Pharmaceutical - In the past quarter of a century, the pharmaceutical industry has undergone huge steps towards globalization. Pharmaceutical globalization has resulted in the creation of at least a couple of companies that have achieved nearly ten percent market shares. And ten percent of global pharmaceutical sales and revenue is not small pickings.
Globalization of the pharmaceutical industry actually is a fairly recent trend considering the overall existence of the industry. Globalization has occurred primarily through the merger of different pharmaceutical companies. These mergers have resulted in huge companies with operations spanning the entire globe.
Most industry analysts believe that on balance globalization has been beneficial to the pharmaceutical industry. These industry analysts cite a number of difference examples as to how globalization has benefited the industry.
One benefit to pharmaceutical globalization is found in the area of research and development. Globalization has increased the revenue stream of pharmaceutical companies which these companies contend expands their ability to undertake significant research and development programs.
These companies argue that absent globalization and the significant revenue and profit streams enjoyed currently by pharmaceutical companies, these companies could not undertake research and development on the various drugs they are working on at this time. The companies contend that, for example, research on drugs to control or even rid the world of AIDS and HIV could not be undertaken absent the revenue currently flowing into the pharmaceutical industry in this day and age.
The pharmaceutical industry also contends that one of the benefits of globalization has been to make certain drugs available to impoverished nations. The pharmaceutical industry contends that globalization has brought drugs that never would have reached these poorer countries to clinics so that these medicines can be more readily available to end use consumers.
Others counter the arguments put forth by the pharmaceutical industry. These experts and analysts contend that globalization really has not resulted in increasing the availability of drugs to poor countries. These men and women sight the case of African nations afflicted by AIDS as an example, countries with populations that see no relief coming at any time in the near future.
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