Retail Pharmacies Essay

This section we are analyzing the Indian Pharmacy at which the Ajanta Pharma belongs and the overall external environment in which the company is operating.

Eli Lilly had the right strategy finding Ranbaxy when moving into the Indian market. In 1992, India had loosened restrictions on foreign direct investment to 51%. Both companies had good previous experience and were each considered to be strong players in the industry. Eli Lilly benefitted from the relationship immediately by accessing Ranbaxy’s distribution network including access to difficult international markets such as Russia, getting government approvals, licenses, and low cost supplies. Ranbaxy gained the branding of a foreign name, which suggested ‘good quality’.

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

I am currently a Senior Certified Compounding Pharmacy Technician in the only compounding Walgreens in Gainesville, FL. In the past two years as a technician, I have learned what being a retail pharmacist “really” entails. I can embellish it by saying that being a retail pharmacist is all about customer interactions and helping the patient through insightful review of the medications that they are taking, but that is only a small sliver of what is required on a daily basis. There are endless phone calls, insurance issues, consults, complaining customers, and immunizations that all need to be taken care at the same time on top of reviewing prescriptions. A lot of pharmacists get extremely stressed out and they have reason to.

With technology changing, the future of pharmacy is quickly changing as well. The pharmacy provider is not a want, but a need for the future of pharmacy. Technology is making a big impact on the future of pharmacy. We have machines counting pills, and dispensing kiosks processing prescription refills after hours. This technology helps speed up drug preparation and verification for customers. It is also belived that these machines are replacing pharmacy technician and pharmacist roles.

India is standing on the threshold of a retail revolution and witnessing fast changing retail

Albeit most drug store professionals get casual at work preparing, businesses without a doubt support the individuals who have finished formal preparing and have been certificated. Formal drug store professional training programs require some classroom and research center work in an assortment of territories, including therapeutic and pharmaceutical phrasing, pharmaceutical counts, drug store recordkeeping, pharmaceutical systems, and drug store law and morals. Experts additionally are required to learn drug names, activities, uses, and measurements. Many preparing programs incorporate temporary jobs, in which understudies pick up hands-on involvement in genuine drug stores.

•  India's $250 billion retail business is the eighth largest in the world and has the potential to grow 7 per cent by 2011. [McKinsey Report] For a company already dominating the world markets, this is an un-passable opportunity.

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 highly favourable competitive environment, in which drug companies obtained patents to protect them from rivals, meant that competitors were effectively blocked from manufacturing and marketing drugs with the same chemical composition for 17 years, which equates to between eight and 12 years once the drug actually gets to market.

India for that case has already established a global footprint, supplying generics to many countries . They are enthusiastic about the direction of their strategy – global expansion. The reason is simple as healthcare systems around the world are pushing for the use of generics. It is desired even in the USA as huge savings have been made in the healthcare system and penalties have been issued when generic prices rise ahead of inflation . Also, there is a positive forecast that generic usage will be increased close to 40% by 2020 . Knowing that exporting of generics is a lucrative part of the business, is also a big reason to why Indian companies and the government are beefing up the standards of pharmaceutical factories within the country . Strategies for global expansion are set out for long term goals, by being loyal to their plans, eventually the quality standards of ‘Pharmerging’ countries will be accepted

India’s retail market is expected to nearly double to US$ 1 trillion by 2020 from US$ 600 billion in 2015, driven by income growth, urbanization and attitudinal shifts. While the overall retail market is expected to grow at 12 per cent per annum, modern trade would expand twice as fast at 20 per cent per annum and traditional trade at 10 per cent.

The vast and diverse nature of the Indian consumer provides ample variety of needs for retail stores to address. Mom & pop stores, departmental stores, e-commerce platforms, all target different needs of a variety of customers. With consumers becoming more and more comfortable with

Before the entry of organized retail sector in India, in unorganized retail sector, millions of people are forced to get their livelihood in the informal way as this was the sector where easy entry was possible with low capital and infrastructure needs and it acted as shelter for many unemployed. Traditional forms of low cost retail trade, from the owner operated local shops and general stores to the handcart and pavement vendors together form the bulk of this sector. But the growth of the supermarkets and the malls has reduced the business of these retailers nowadays. The report of BIMTECH (Birla Institute of Management Technology) says that the consumers may be benefited from the entry of such retail companies but the sufferers will be the unorganized retailers at large. They have clearly stated that such kind of sudden flow of the foreign retailers in the market may create huge unemployment and the social unrest. In the suggestion they state that the retailers of the unorganized sector should be trained properly before made face such type of competition. The scope of strong regulating mechanism is there for such a reform. It is fine to say that the training should be given to the unorganized retailers but is it really feasible? Can millions be trained and motivated in the direction? It is difficult in reality. Today almost every customer is used to of foreign brands when the goods consumed of Electronics, automobiles, mobiles etc. Even majority have not been