Companies // Pharmaceuticals
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This company is a constituent of the pharmaceuticals sector. The pharmaceutical and biotechnology sector produces drugs for the healthcare industry. Research, patents and drug sales are the three segments at the heart of the pharma complex. With healthcare costs going through the roof across the world and developing countries in desperate need to access cheaper drugs, there is huge pressure on the industry to fulfill our needs. Pharmaceutical companies produce two types of products: brand and generic drugs. Generic drugs, which could be defined as legally copied brand products, are generally much cheaper but just as effective as the brand, helping bring down the cost of healthcare in the process. However, the path to a new marketable drug is long and expensive, so it is no surprise that pharmaceutical companies are eager to reap the profits first before they allow competitors to produce generic products. Governments constantly apply pressure on them to bring more generic drugs onto the market. The pharmaceutical sector is very research-heavy. Universities and laboratories across the world often cooperate in an effort to keep research costs at a reasonable level. Biotechnology and pharmaceutical companies range from the large multinationals right down to university spin-offs. Pharmaceutical companies serve national health systems, the private healthcare sector and retail clients, usually through pharmacies. Trading over the internet has become very popular for retail clients because many online retailers sell products at a fraction of the price charged at high street pharmacies and surgeries. The bestsellers are for problems such as cardiovascular ailments, which includes drugs for high blood pressure, high cholesterol levels and diabetes. Other major fields are neuroscience, infection, respiratory, inflammation, cancer and gastrointestinal drugs. Global flu fears related to bird and swine flu have also boosted sales of antiviral drugs. Over recent years, research and drug development for the veterinary sector has spiraled with substantial revenues generated from the pet and farm health sector. Watch this space: Pharmaceutical companies discovered long ago that customers are happy to pay for expensive drugs if these products can improve their lifestyle and make them feel good about themselves. Viagra is one example, but there are countless beauty and health pills, as well as products related to diets. Non-pharmaceutical health products like vitamins and health drinks have become a major growth area.
The regulation of the pharmaceutical sector and commodity prices. Other factors include large-scale disease outbreaks, the degree of global competition and the growing demand for pharmaceutical products from the farming and pet care sectors.