The Production Of The Pharmaceutical Industry

1569 Words Apr 28th, 2015 7 Pages
Research, create, market and sell are four processes in a Pharmaceutical industry. It is one of the most booming industries in Canada. This field consists of large number of sub-sectors and different segments that covers all the drug firms, pharmaceuticals companies, biopharmaceutical small and medium sized enterprises (biopharmaceutical SMEs), and contract service providers (CSPs). The first pharmaceutical industry was opened by E.B. Shuttleworth in Toronto in 1879. Today most of the owners of Pharmaceutical companies in Canada are foreigners. The Canadian pharmaceutical industry is diverting towards generic drugs as compared to branded drugs. Pfizer is leading pharmaceutical company and generic manufacturer in Canada. Apotex is fifth largest pharmaceutical manufacturer in Canada for generic drugs.(Canada pharmaceutical industries)
It is contributes 2.5% of sales to global market and makes Canada the 8th largest country in the world in this field. From year 2001 to 2013 the pharmaceutical sector in Canada starts growing and it accounts $22 billion, out of which 89% of the drugs were sold to the drug stores and rest were sold to hospitals.
In Canada, Government is responsible for 42% of drug expenses and the remaining part of these expenses is covered by private companies.

Composition
In Canada, this sector is divided into three categories in terms of production. These are given below:-
• Subsidiaries of foreign MNC manufacturing brand-name drugs
• Generic companies
•…
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