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Pharmaceutical industry competition
Pharmaceutical industry global strategy
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President and CEO of Paragon Biosciences Jeff Aronin is a high-level strategic business executive and generous humanitarian all rolled into one. He has dedicated his life to starting companies that serve the sole purpose of helping others by curing lesser known diseases that plague thousands of lives. With Jeff's guidance, numerous pharmaceutical companies have been able to greatly speed up the process of testing revolutionary medicines so that thousands of patients can get the benefits from the drugs as soon as possible. Paragon Biosciences has been at the forefront of aiding the creation of new innovative pharmaceutical companies since the first day it was founded. The highly successful business strategy that Paragon Biosciences duplicates
on a daily basis is simple yet effective. First, they identify untreated diseases that other companies have deemed unsolvable, then they study the science behind the disease in order to create specific medicine that can lead to a cure. Once the science behind the diseases is fully understood, they either create or incubate an existing pharmaceutical company and give it the specific goal of finding a cure for that disease. So far this process has led to the successful creation of 13 new drugs that have been approved by the FDA which are now bringing relief to thousands of patients. While Jeff Aronin has built a wildly successful professional career, his main focus in life has always been on putting his family first and catering to the needs of others. He uses his knowledge of entrepreneurship to mentor many young budding entrepreneurs each year. Numerous up and coming business professionals go to Jeff with a simple idea for a product and end up leaving him with an established business put in place. Jeff's enthusiasm for his work and helping the community around him is simply undeniable. With the combined efforts of himself and his company, he will no doubt continue to make the world a better place to live in 2018.
The pharmaceutical and biotech industries must be free to develop and research life saving medicines and other advancements that will benefit society. If this cannot be done, progress would never be made. People would still be contracting polio a...
Phar-Mor was known as one of the major discount chain retailers in the late 1980’s - early 1990’s. It was founded by Mickey Monus, a gambler in nature, who with the help of senior management was “cooking the books” for years to cover up his loses. The reason why senior management agreed to do this fraud is the belief in unique ability of their leader to fix everything later on. This case is known as one of the biggest accounting frauds in the corporate history of the U.S. This paper will analyze who was affected by this fraud, the motives behind it and what systems of control failed to prevent it.
RESPONSE: There are alternatives methods to replace animal testing and the technology for it will advance and continues to do so. The glass vasculature model, used to study fluid dynamics in cardiovascular studies, is a compact step in the right direction. Hopefully, a time will come when scientists do not have to use animals for scientific purposes. Other methods for curing Alzheimer’s disease, cancer, sickle cell disease, stroke, spinal cord damage and etc will develop. (74 words)
Nucleon is a small biotechnology start-up with a very promising potential product (CRP-1), which is also the first product that Nucleon is planning to go into the clinic market. Nucleon has reached to human clinical trials phase with its product and it has no manufacturing facilities that satisfy the guidelines for these clinical trials and testing. Nucleon is on the verge of making a critical choice of manufacturing strategy, which will affect Nucleon’s survival in the intense competition in the long haul. Nucleon management is aware of the facts that they have a limited budget to start with, the financial environment in biotechnology is rapidly changing and establishing the safety and efficacy of products like CRP-1 is complex, time-consuming and expensive; that’s why they want to evaluate risks and rewards of each manufacturing strategy before making their final decision.
This fact validates the incentive pharmaceutical companies have to get a patent and acquire more power. Pfizer encourages R&D because of the incentives and a desire to obtain patents to receive more profit. Pfizer has to promote itself to be successful, creating a brand image that consumers will trust. If the company can advertise successfully, more consumers will purchase their products. Pfizer must also be generating products efficiently in order to save and use existing resources, while manufacturing their products at low costs to stay competitive....
In 1938 amongst a team of scientist working for Sandoz Pharmaceuticals in Basil, Switzerland was University of Zurich graduate, Dr. Albert Hoffman. Hoffman was working in a chemical research laboratory at a time when pharmaceutical companies were deeply...
team in an agreement that the ARO-CRO model will turn out to be “the new model” for new drug discovery, trial and approval. An examination of recent trends between ARO-CRO and ARO - Big Pharmaceuticals partnerships, I have concluded that there is a different paradigm than Goldenberg et al. team has described. AROs were uncommon before Goldenburg et al, exposed the ARO-CRO model, available in “Blood” in 2011. This paper has described the significance of the roles and accountabilities for chief partners, including AROs, CROs, pharma organizations and regulators. We are learning the importance of the AROs that compete with the current paradigm of clinical development in outsourcing of clinical trials to CROs. AROs play a more essential role in pharma clinical research and development
Over the past decade, scientists have made significant advancements in the treatment of certain diseases. Unfortunately, just like any new product, the cost of developing these new technologies and treatments is extremely high. Plus, unlike other technology, heath technolo...
...f ivermectin in the first place. Furthermore, we wouldn’t want to risk Merck going out of business, as it seems they had the capability to produce many useful medications. They’d already proved to make six useful, safe, and powerful drugs—the medical world wouldn’t want to lose such able creators. The best choice, therefore, would have Merck contributing to the research, but include other pharmaceutical companies and private donors to help with the financial and personnel costs. This funding would allow Merck and the other companies to sell at low costs, or even give, the medication to those who desperately need it. In order to implement such this type of plan, Merck would have to take the lead. They would have to actively seek out organizations, companies and private donors and explain the wonderful consequences for huge populations with the success of ivermectin.
Since its humble beginning as a small drugstore, Merck has placed a large amount of importance on improving the health and well-being of its customers. As drug patents expire and genetic forms of their top products become available, Merck’s strategy is to do the unexpected; instead of raising the price of their older products in favor of patent protected new drugs, Merck focuses on reducing their cost in order to better compete with their generic counterparts. Additionally, Merck’s plan for growth now encompasses a much more aggressive pursuit of new drugs in their pipeline through extensive research. Merck became the second largest health care company in the world after the merger with Schering-Plough in 2009 and has contributed great discoveries like the first cervical cancer vaccine and great resources like the Merck Manuals which are utilized as a source of information to doctors, scientists and consumers worldwide .
Jason Hope is an Internet entrepreneur, who is hoping to use, not only his money, but his influence as well. He wants to use his resources to bring attention to his rejuvenation biotechnology. Rejuvenation technology focuses on age related diseases.
Over the years the company has survived by focusing on its internal development in addition to a series of mergers, acquisitions, and corporate restructurings. Being a pharmaceutical company, the entire population is impacted: patients, physicians, employees, hospitals, and investors are some of the most important stakeholders. We first began our analysis of Novartis by evaluating the company’s strategic direction. Novartis’ mission statement is to care and to cure. They are a company that wants to discover, develop, and successfully market innovative products to prevent and cure disease, to ease suffering, and to enhance the quality of life.
“It is a simple fact that many, if not most, of today’s modern medical miracles would not exist if experimental animals had not been available to medical scientists. It is equally a fact that, should we as a society decide the use of animal subjects is ethically unacceptable and therefore must be stopped, medical progress will slow to a snail’s pace. Such retardation will in itself have a huge ethical ‘price tag’ in terms of continued human and animal suffering from problems such as diabetes, cancer, degenerative cardiovascular diseases, and so forth.”
The vision of the project is to increase efficiency and service levels of pharmaceutical firms.
William Weldon quickly rose through the ranks of the enterprising business world. He held managerial positions with different corporate units such as McNeil Limited, Ortho-Silag Pharmaceutical and Ethicon Endo-Surgery (Barrett, 2003). These divisions spanned the United States, Korea and the United Kingdom. In 1998, Weldon’s international experience offered a smooth transition into the position of Worldwide Chairman of Pharmaceuticals (Barrett, 2003). As was his practice, he found himself striving to cover new territories and implement new ideas. Establishing enhanced research, development, sales and marketing departments changed the pursuit and implementation ...