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Essay / Research Paper Abstract
This 4-page paper provides a PEST analysis for the pharmaceutical industry in the United States. Bibliography lists 3 sources.
Page Count:
4 pages (~225 words per page)
File: D0_MTppest.rtf
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Unformatted sample text from the term paper:
long-term, pharmaceuticals tend to be recession-proof; even if people are cutting back on entertainment and food expenses, they are likely always going to need certain types of drugs. As
a result, the pharmaceutical industry represents a nice portion of the United States GDP. In the following paper, we will perform a
specific analysis to determine current trends in the pharmaceutical industry. In developing up political, environmental, sociological and technological (PEST) analysis for the
pharmaceutical industry, we came up with the following information. Political. From a governmental and regulation standpoint, the Food and Drug
Administration (FDA) is working hard to accelerate faster drug approval on newer drugs (Boekman, 2003). Included among the FDAs goals is the implementation of a fast-track approval plan, especially for
badly needed therapies that are urgent in nature (Boekman, 2003). By the same token, the FDA is also starting to crack down
on drugs that are being purchased in Canada or Mexico and brought into the United States. While this might help in terms of profits of Big Pharma, it will
likely not endear the FDA to elderly people who at this point cannot afford medication and are forced to go over the border to purchase it.
In fact, although it was reported in 1998 that increasing disparity in prescription drug coverage was anticipated to be a hotly contested political issue (Serafini, 1998),
it still remains one even to this day. Envoronmental. Although Big Pharma is still resented by many of its customers, there
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