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Essay / Research Paper Abstract
This 4 page paper is written in two parts. Using GlaxoSmithKline as example the first part of the paper discusses the key to success factors for pharmaceutical companies and which of the success factors can be transferred to generic drug manufacturing companies. The second part of the paper discusses what lessons can be drawn from the development of sustainable competitive advantage for other companies outside the pharmaceutical industry. The bibliography cites 3 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEpharmsuc.rtf
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Unformatted sample text from the term paper:
at the different factors it is possible to consider which could be transferred to the large and generic manufacturers. In a pharmaceutical
market there is a high level of competition and a demand for new types of treatment. For this reason a key success factor for many pharmaceutical companies are their abilities
and core competencies in research and development. The competitive value of the first mover advantage in a pharmaceutical company can be worth millions of dollars, especially where the develop drug
is a new treatment rather than simply an improvement. A good example of this has been Viagra, which gave its company a major first mover advantage. There are a large
number of areas with demands for drug treatments that are currently being developed. Research and development is essential to develop these treatments. It is not only the ability to undertake
research and development, but the way this is undertaken and its scope. This means that there is a reliance on the internal resources as well is the aspects such as
intellectual capital that is required for the research and development. The pressure that this places on resources and the benefits which are obtained from economies of scope and scale had
been a major driving factor behind the level of mergers and acquisitions which are taken place in pharmaceutical market. GlaxoSmithKline is the result this type of activity.
Many development projects will not reach fruition. Financial results of pharmaceutical companies are notoriously volatile, reflecting the lead time taken to develop and then gain licences
to market the drug. Once developed the company can protect its development for a set period of time, but the advantage is likely to be lost as other companies reverse
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