The Glbal Phamaceutical Industry
1587 words 7 pagesStudent Name : Singh, R.
: Hariram, E. : Marimuthu, V.K.
Student Number : 20054057 : 20101233 : 19852274
Assignment Title : The Global Pharmaceutical Industry.
Date : 10 March 2012
Programme : BTECH-MANAGEMENT IV
Identify the main environmental forces currently affecting the global pharmaceutical industry?
PESTEL analysis of the global pharmaceutical industry:
Political * Governments set stringent regulation and is a powerful purchaser. * Governments around the world focus on pharmaceuticals as a politically easy target in their efforts to control rising health care expenditure. * Inter-country pricing disparities.
* European free trade agreements. * …show more content…
| Patent protection shrinks as clinical trials become ever more cumbersome and costly. | 2. | Genomics provides cost-effective ways to detect disease and develop new drugs. | Emerging markets remain the main areas for antibiotics and generics. | R&D priorities radically change. | 3. | Enhanced R&D and marketing capabilities pay off by bringing more blockbuster drugs faster to market. | Mergers and acquisition activity stops and/or poor performance of vertical integration. | Big pharmaceuticals become a holding company of drug discovery outfits. | 4. | Internal biotechs become the solution to organizational problems. | New marketing channel. | Emergence of virtual companies. | 5. | Harmonization of approval processes within the EU (i.e. single submission) and between the EU and the US. | Intellectual property rights are retained and strengthened across the world, with exceptions being made only in cases of true emergency such as AIDS. | The world`s most populous developing markets are opened up to cheap copy products from countries such as India, and effectively lost as markets for major pharms. | 6. | More and better quality information creates better informed and educated consumers. Medical practitioners welcome and support the empowering of final consumers. | Direct to consumer communication continues to be outlawed in most countries outside the US and informed consumers continue to use the Internet. | Angry consumers force governments to