The core of the pharmaceutical industry problems consists of the expiration of patents, rising R&D expenses, and uncertainties facing new researched products and their abnormal methods of circulation of returns from said product.
As rooted in the topic of this case AstraZeneca upholds the gold of innovatively changing the way medicine reaches patients. When patents are first granted there are procedures that followed before a drug reaches the marketplace. Due to the extended timeframe that is required for clinical trials, studies and organizational processes to tested and developed the revenue phase of the drug decreases (Hitt, Ireland, & Hoskisson, 2015). More specifically after the developed drug is ready for sale the patent remaining on these products are near expiration. The way …show more content…
Although at times there are delays in the R&D process, AstraZeneca still manages to implement cutting edge technology to develop and provide pharmaceutical products to the marketplace with what little capital is available while preserving quality in contrast to their competitors. Additionally AstraZeneca proves competitive advantage amidst delayed patents, the healthcare reform in their ability to remain competitive. Strategies were articulated and implemented to support the company R&D advancements. Further instances where AstraZeneca remained at a competitive advantage within the pharmaceutical industry was their achievement in decreasing the time-line for developing medicine (Trivedi, 2015). Other ways how AstraZeneca shone above their competitors was by capitalizing on the patents and generic drugs. This is seen with the successful sale of their drug schizophrenia and with them taking on specialized areas to concentrate their research and development for cardiovascular or respiratory drugs among
As rooted in the topic of this case AstraZeneca upholds the gold of innovatively changing the way medicine reaches patients. When patents are first granted there are procedures that followed before a drug reaches the marketplace. Due to the extended timeframe that is required for clinical trials, studies and organizational processes to tested and developed the revenue phase of the drug decreases (Hitt, Ireland, & Hoskisson, 2015). More specifically after the developed drug is ready for sale the patent remaining on these products are near expiration. The way …show more content…
Although at times there are delays in the R&D process, AstraZeneca still manages to implement cutting edge technology to develop and provide pharmaceutical products to the marketplace with what little capital is available while preserving quality in contrast to their competitors. Additionally AstraZeneca proves competitive advantage amidst delayed patents, the healthcare reform in their ability to remain competitive. Strategies were articulated and implemented to support the company R&D advancements. Further instances where AstraZeneca remained at a competitive advantage within the pharmaceutical industry was their achievement in decreasing the time-line for developing medicine (Trivedi, 2015). Other ways how AstraZeneca shone above their competitors was by capitalizing on the patents and generic drugs. This is seen with the successful sale of their drug schizophrenia and with them taking on specialized areas to concentrate their research and development for cardiovascular or respiratory drugs among