Brand Name Pharmaceutical Management- Industry Profile

In: Business and Management

Submitted By adshaver
Words 1160
Pages 5
Due to its increasing demand and globalization, the Brand Name Pharmaceutical Manufacturing in the United States will continue to be profitable despite competition from generic pharmaceuticals, barriers to innovation, and safety regulation.
An industry overview
Brand Name Pharmaceutical Manufacturing in the United States is one of the largest industries in the world today. This industry produces prescription and over-the-counter drugs as well as biologic products that are primarily intended for the treatment of human illnesses (Zhong). Its major products and services include other pharmaceutical preparations, biological products, oncological products, medicinal and botanical products, respiratory agents, lipid regulators, anti-diabetics, and in-vitro diagnostic substances (Turk).
Similar industries include generic pharmaceutical, cosmetic and beauty products, scientific research and development, and biotechnology manufacturing in the United States (Zhong). The Center of Drug Evaluation and Research (CDER) of the Food and Drug Administration (FDA) (Zhong) is the government agency in charge of regulation and oversight of this industry. It consists of 1,575 businesses. Major players and their market shares consist of Pfizer Inc. (10.9%), Merck and Co. Inc. (10.4%), Johnson & Johnson (8.0%), Amegen (7.4%), Eli Lilly & Company (7.2%), and Abbvie Inc (6.4%) (Turk). In 2013 it brought in $165.0 billion dollars in revenue and $35.6 billion in profits. Between the years of 2012 and 2017, the brand name pharmaceutical industry will have an annual growth of 0.4% (Zhong).
Increased globalization and healthcare coverage lead to gains in profitability

Globalization in this industry is high. Pharmaceutical manufacturing has many firms in multiple markets across the world including 15 multinational companies that dominate the industry (Turk). Firms are starting to go…...

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