RIZALYN JOY CRISTOBAL

BSPh 3E
Pharmaceutical Marketing and Entrepreneurship

TLA: (CO2) Understanding the Lesson

Instruction: Read and examine the link provided below and write your OWN VIEWS about the
challenges faced and is still facing Pfizer. Answer the following questions as accurately as
possible.

1. Why has the pharmaceutical industry been so successful historically?

Pfizer has a massive research and development structure. With this
advancement, the company continues to develop and launch novel products that
benefit both the business and consumers. In addition, the company’s unceasing
investment to research and development of potential pharmaceuticals lead to their
Pfizer’s top-performing products which has a patent protection which dominated the
market accordingly. Correspondingly, their research and development capabilities
maintain an aggressive approach in facing competitions within the industry.

2. What is your assessment of the pharmaceutical industry at the time of the case? How is
competition changing? What factors are driving the changes?
Pharmaceutical industry is dynamic. Pfizer’s products with patent protections
have an end as well. After their expirations, generic companies are likely and expected
to produce drugs with the same active ingredient as Pfizer’s. Ultimately, competition is
highly based on price, making Pfizer experience changes in its business competencies.

3. What will competition in pharmaceuticals look like in 10 years?

Rising research and development (R&D) consumptions by drug companies are
considered an outcome of changing industry structure, especially the rise of the
biotechnology area. The making of a business opportunity for biomedical science and
 expanded competition inside the business are probably going to spike advancement and
raise efficiency. As advancement progressively dependent on financial aspects,
speculation may be getting more sensitive to price controls or other expense regulation
measures.

References:

Cockburn I (2004) “The Changing Structure Of The Pharmaceutical Industry” retrieved from
https://www.healthaffairs.org/doi/10.1377/hlthaff.23.1.10

Gregory L (2008) “Pfizer Inc. Analysis: Products, Markets, Strengths, Risks, Recommendations”
retrieved from http://panmore.com/pfizer-company-analysis-overview

Kratochvil R., Nell P. (2019) “Pfizer and the Challenges of the Global Pharmaceutical Industry
2019 – A” retrieved from https://research.cbs.dk/en/publications/pfizer-and-the-
challenges-of-the-global-pharmaceutical-industry-2-6

IvyPanda. (2019). Pfizer and the Challenges of the Global Pharmaceutical Industry. Retrieved
from https://ivypanda.com/essays/pfizer-and-the-challenges-of-the-global-
pharmaceutical-industry/