Abstract
Copyright: © 2015 Sharma H. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. The pharmaceutical is one of the most regulated industries across the globe. Its success story lies in ensuring essential drugs at affordable prices to therapeutic naive population. Until recently, pharma investments in RD patients accepted the prescription and payers footed the bill. Lean practices were not essential in the business, which helped to increase the value of the global pharmaceutical market. By 2020, it is estimated that the expected growth will be worth nearly $ 1.6 trillion.
Highlights
The pharmaceutical is one of the most regulated industries across the globe
Lean practices were not essential in the business, which helped to increase the value of the global pharmaceutical market
Every big and small pharmaceutical firm is seeking an advantage to maximize its value in terms of R & D efforts, quality products, cheaper medicines and public trust instead of volume
Summary
The pharmaceutical is one of the most regulated industries across the globe. Its success story lies in ensuring essential drugs at affordable prices to therapeutic naive population. The business was lucrative since physicians prescribed these new expensive drugs; patients accepted the prescription and payers footed the bill. Lean practices were not essential in the business, which helped to increase the value of the global pharmaceutical market. Foot Note: The growth markets include, in descending order of size China, Brazil, Russia, India, Mexico, Turkey, Poland, Venezuela, Argentina, Indonesia, South Africa, Thailand, Romania, Egypt, Ukraine, Pakistan and Vietnam. Every big and small pharmaceutical firm is seeking an advantage to maximize its value in terms of R & D efforts, quality products, cheaper medicines and public trust instead of volume
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