Industry Analysis of Pharmaceutical Industry in Bangladesh

Economic: Globalization of the pharmaceutical industry is an exciting opportunity to have research and development done at cheaper prices in other countries. However, this could be a double edged sword for companies because it is easy for other countries, such as India, to produce generic versions of the drug in bulk.

An examination of the format and writing style of the product’s newspaper advertisements over time revealed a formulaic pattern whose content changed little over the period of its promotion (Figs. 3, 5). Each advertisement started with the name of the product and an authenticity statement. Next, the main body introduced the product and extolled it as an “unfailing cure.” Directions on when to use the pills and/or to whom the pills were marketed followed. Veiled warnings and cautionary statements, including an extensive list of ailments the product would cure, as well as a list of the minerals, metals , and chemical

This paper takes the stand that direct-to-consumer (DTC) advertising of pharmaceutical drugs is unethical. This stand is based on the belief that many developed countries in the world have banned such kind of advertising because they believe that it is unethical. I believe that the advertising of pharmaceutical drugs is unethical because it gives consumers hope that a specific drug can cure their disease. However, this might not be the case as only a qualified medical practitioner can prescribe the right medication to treat a particular disease or condition. This is a major issue given that many consumers might prefer to be treated with an advertized pharmaceutical drug, yet it might not be the best drug for their specific ailment. It is believed

Prescription drug prices are increasing and it is becoming much more difficult for people that rely on healthcare to purchase them. Branded prescription drugs, specialty prescription drugs, and even generic products like ibuprofen have been inflating in the last 7 years. There are a number of reasons to attribute to the said inflation over the last 7 years. Newly approved branded and specialty prescription drugs and the rising costs of existing branded and specialty prescription drugs.

The pharmaceutical industry continues to be a major driver of trend. While demand for medicine rapidly increases in emerging economies, a growing number of consumers are also analyzing the economic performance of different medicines. These events will heighten the challenges the

RESEARCH PURPOSE: One of the triumphs of the biomedical revolution of the past 30 years is the development of a large and growing pharmacopeia of therapeutic drugs. Used appropriately, these drugs enhance patient’s quality of life, improve functional capacity and sometimes extend life. However in the aggregate, prescription drugs represent a substantial health care expenditure. To ensure steady demand for their products, pharmaceutical manufacturers have traditionally deployed large armies of sales representatives marketing their ways to physician (1). Lately the pharmaceutical industry had altered its marketing strategy by increasing its reliance on direct- to- consumer (DTC) advertising. The amount to money spent on DTC advertising has risen from 600 million to 8 billion in the last decade (2). Almost 145 million U.S. adults look up for health information online in 2008. Views on DTC ads (DTCA) center on three effects: cost, communication, and health of the public. Critics claim that DTCA raises health care costs by stimulating consumers to demand newer, more expensive drugs, often with high profit margins (3, 4). The pharmaceutical industry rejects arguments that DTCA is inflationary, and while not denying the profit motive, it points out that DTCA serves a patient education function. The industry’s argument is that patients are highly motivated to

Direct-to-consumer drug advertising (DTCDA) has grown rapidly during the past several years and considers now the most prominent way of health communication that the public admires and this type of advertising could be distributed through different channels most commonly include television, radio, magazines, newspapers, the Internet, and another mass media forms like billboards and direct mailings (Abel GA, Penson RT, Joffe S, et al., 2006).

Joseph Dumit announces how pharmaceutical organizations are exploiting us shoppers, control with showcasing procedures and making it so we return for more solution. These brings up the issue do pharmaceuticals have our best enthusiasm to make us more beneficial or are they just in it for the cash. Dumit states that in 2011 pharmaceuticals made about $880 billion dollars and is relied upon to grow 5% consistently later on (18). Dumit thinks something is wrong with these organizations and takes a gander at the ceaseless development in medications, conclusion, expenses and weakness, he adopted the strategy to take after cash and following associations between the benefits of organizations and ailment extension (10).

There are advantages of starting a pharmaceutical firm in India. It has emerged from being an enzyme-producing firm to a biotech powerhouse under the guidance of Ms Kiran M. Shaw. They have a well-established pharmaceutical industry that has been growing since 1947. After the purchase of Hindustan Antibiotics Ltd. and India Drug and Pharmaceuticals Ltd. they were able to compete with the MNC’s (Multi National Corporaton) from overseas (Kalegaonkar, Locke, Lehrich, 2008, p. 2). In the beginning the pharmaceutical industry saw substantial growth. “By the beginning of the 21st century, over 20,000 pharmaceutical companies were operating in India” (Kalegaonkar, Locke, Lehrich, 2008, p. 2). “The pharmaceutical industry in India is ranked third

Nowadays, the role of the pharmacist in the new era of health reform is not only just pill-bottle fillers, but also transform into an entrepreneur who can maximizing their skill sets to assist patients, as well as gaining market in pharmaceutical community store. There are several

By 2020 the pharmaceutical market is anticipated to more than double to US$1.3 trillion, with the E7 countries — Brazil, China, India, Indonesia, Mexico, Russia and Turkey — accounting around for one fifth of global pharmaceutical sales. Further, incidence of chronic conditions in the developing world will increasingly resemble those of the developed world.

Be that as it may, the principle favorable position is its moderate estimating and accessibility, as it is sold in each pharmacy.Accept these tips and utilize them in wellbeing.

The pharmaceutical industry includes companies that research, develop, market or distribute generic and branded drugs. The industry expanded during the 1980’s and drugs to treat heart disease and AIDS were prominent. Consumer demand for nutritional supplements and alternative medicine increased during the 1990’s with the Internet facilitating direct purchases of drugs. Advertising for direct consumption of pharmaceutical drugs became more prominent; pharmaceutical companies were criticized for over medicating personality or social problems.

We analyzed the Indian Pharmaceutical industry on these five forces and the findings of industry competitiveness and profitability are written under the relevant competitive forces.

This report provides an analytical strategic review of the global pharmaceutical industry; its origin, evolution,