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Name: Tutor: Course: Date: Strategy in 21 century pharmaceutical industry: Mark and Pfizer Why was the pharmaceutical industry one of the most profitable industries in the world through the 1980’s? Collis David and Troy Smith (1) states that pharmaceutical industry in the world experienced growth through the years of 1980s with its sales averaging up to six hundred and two billion US dollars up from two hundred and ninety eight billion in the year nineteen ninety eight. The growth can therefore be attributed to such factors such as increased in life expectancy which was coupled with The dynamics of the industry demanded that direct contact with doctors be minimized. Pfizer has failed to adopt that despite its large sales force. The industry has been advocating use of science more than aiming at growing in size. Pfizer should therefore revert to direct to consumer ways of marketing. This will enable its growth easily since its strategies will be in line with those of the industry. (13) Work cited Collis David and Troy Smith. Strategy in 21 Century Pharmaceutical Industry: Mark and Pfizer. 1st ed. Boston: Harvard Business School Publishing 2007. Web. 29 Mar. 2017. [...]
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You had to answer this 3 questions in one page : 1. Why was the pharmaceutical industry one of the most profitable industries in the world through the 1980s? 2. What have been the most important changes in the pharmaceutical industry's structure during the past two decades? What does each change imply for the strategy of an effective pharmaceutical firm? 3. How do you evaluate the strategies that Merck and Pfizer have pursued in light of the changing industry structure? What would you recommend to Richard Clark and Jeffrey Kindler as they become CEOs of Merck and Pfizer, respectively? thanks!
Subject Area: Health Care
Document Type: Dissertation
