The healthcare industry has undergone major scrutiny in the political and private sector in the last decade. “Increases in prices for existing branded prescription drugs accounted for $20 billion of the industry’s 2013 sales growth before discounts and rebates.” (http://www.businessweek.com/articles/2014-05-08/why-prescription-drug-prices-keep-rising-higher) Rising prescription drug prices have been a significant aspect of the larger healthcare discussion. An analysis of prescription drug development, marketing, and consumer pricing by the largest contributing pharmaceutical companies reveal substantive challenges for consumers in affordability and availability. “In 2012, Americans spent $263 billion or 11 percent more than the $236 billion in 2007, according to government data.” (http://www.businessweek.com/articles/2014-05-08/why-prescription-drug-prices-keep-rising-higher) “According to IMS Health, a worldwide leader in health care research, the global market for pharmaceuticals is expected to top $1 trillion in sales by 2014.”
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Johnson and Johnson is known to consumers by its multifaceted line of healthcare products ranging from Band-Aids to Tylenol. Johnson and Johnson is touted as a “family” oriented company with significant brand loyalty. While its product line include much more than prescription drugs (J&J is made up of around 250 subsidiaries and 129,000 employees), it has a formidable presence in the drug market drug market. It falls among the highest revenue makers with 2013 revenue of $71.312 billion and a preceding 2012 year of $67.200 billion (www.fiercepharma.com/special-reports). The pharma division provided most of last year's growth; this included rheumatoid arthritis medication Remicade and the HIV treatment
Johnson and Johnson is known to consumers by its multifaceted line of healthcare products ranging from Band-Aids to Tylenol. Johnson and Johnson is touted as a “family” oriented company with significant brand loyalty. While its product line include much more than prescription drugs (J&J is made up of around 250 subsidiaries and 129,000 employees), it has a formidable presence in the drug market drug market. It falls among the highest revenue makers with 2013 revenue of $71.312 billion and a preceding 2012 year of $67.200 billion (www.fiercepharma.com/special-reports). The pharma division provided most of last year's growth; this included rheumatoid arthritis medication Remicade and the HIV treatment