The companies in the Pharmaceutical Industry that are most global are located in the UK, Switzerland, Germany and the US. Since the Pharmaceutical Industry requires sophisticated manufacturing techniques and high-cost research and development, the most profitable firms are in advanced, developed economies. The following companies are still in the lead today for global revenues, even after the continually changing market.
Pfizer is the leading global pharmaceutical company with global revenues of $51.3 billion in 2005, even with a 2.4% decline in 2004. It has the largest pharmaceutical research and development organization in the industry and had superior success with Lipitor, which is the best-selling drug in the world.
GlaxoSmithKline is next;this company is headquartered in the UK and is located in 116 countries. They also market their products in 125 countries. The US is its largest market, followed by Europe. In 2005, their global revenues were $39.5 billion and increased by 19% from 2004 to 2005.
Two other companies are Sanofi-Aventis and Novartis. Sanofi-Aventis operates in 100 countries and is headquartered in Paris, France. Its revenues in 2005 totaled $33,946.5 million in 2005, which was an 8.5% increase over 2004. Novartis headquartered in Switzerland, and was created in 1996 after Ciba-Geigy and Sandoz Laboratories merged. Their major products include Benefiber and Lamisil.
The key to success of these companies in other countries has been their ability to translate their objectives into achievable targets, clearly communicate them and found the right resources to achieve them. Also, they have been able to work internally and understand to value diversity and, most importantly, they have been able to adapt to changes.
In the Pharmaceutical Industry, if major companies do not produce a successful, high valuable drug one year, they will see a major impact on their revenue and profit numbers at the end of their fiscal year. Shifts in the market share over the past years have been mostly because companies have not been able to come up with new medicines to replace the ones on which patents have expired. Consequently, patents are a huge part of the industry and companies' successes rely on them. The discovery and development of important new medicines is what will ensure that major companies remain competitive.
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