Abstract
The paper analyzes the role of lagged profitability, lagged sales revenue, lagged R&D expenditure and marketing expenditure on firms’ amount of sales revenue in pharmaceutical industries. The model was estimated for multinational pharmaceutical companies using annual data, gathered from thirteen large multinational pharmaceutical companies in the world, during the period 2003 to 2010. The regression analysis method uses a fixed effect model method, with generalized least squares (GLS) method. The result further shows those firms one-year lagged profitability (t-1), one-year lagged sales revenue (t-1), one-year lagged R&D expenditure (t-1), and marketing expenditure to be positive and affect significantly the firms’ sales revenue in the multinational pharmaceutical companies.
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