Abbvie, one of the world’s leading biopharmaceutical company that spans across 170 countries around the globe with 25,000 dedicated employees involving scientists, researchers, manufacturing specialists, communicators and other value adding professionals is a top competitor in pharmaceutical industries (Abbvie, 2013). Abvie is an offshoot of Abbott Labs has evolved primarily focusing on capturing information about world’s greatest health challenges, innovating solutions in conjunction with variety of areas and through the help of scientific & technological advancements.
The capabilities of Abbvie in developing and innovating therapies, nutritional products, medical products and life-changing products to patients needing the most have recognized Abbvie as a top notch pharmaceutical leader. The projects undertaken with the technology and scientific advancements at Abvie demonstrate a greater level of Leadership qualities in administering, delivering and managing such high volume of products, sales, commercial, supply chain management systems etc.
Keywords: Abbvie, Abbott Labs
Abbvie
Leadership and Technology Exposure
On a daily basis I see the work me and my team delivers in accomplishing the needs of the projects at Abbvie is incomparable. The amount of in-flow and out-flow of data associated to the patients, several hundreds of products, testing results, analysis, modeling and other areas is humungous in number. On daily basis, an estimated amount of data that Abbvie handles is close to 3 million records per day. The team I work for her is product analysis and production support through in which I work in identifying the data and applying a quantitative and statistical method in capturing and formalizing the actual numbers from the expected numbers. These daily reports and results are the key business metric figures that will allow our department to further generate reports in layman terms which is the basic to control the performance of the product support. As a part of my daily activity, I involve completely into the supply chain management system, understand the functionality of the products, capture the hierarchy of the products, ensure proper product support and knowledge items are delivered to the agents and end users and finally capture the huge number of quantitative success percentage of Abbvie’s products that provides the management a deep insight of what product would need more focus in improving its ranking among the areas of community health, health, psychological positivism of the customer about the products. These figures on an overall scale, indirectly help Abbvie to improve and streamline its product line in terms of confidence of selling and as well using the products by the agents and end-customers.
Bristol-Myers Squibb is a worldwide health and personal care company with major businesses in medicines, beauty care, nutritionals, and medical devices. BMS is a leader in innovative therapies for cardiovascular, metabolic and infectious diseases, central nervous system and dermatalogical disorders, and cncer. They are also leaders in consumer medicine, orthopaedic devices, ostomy care, wound management, nutritional supplements, infant formulas, and hair and skin care products.Some of the very well known products manufactured by Bristol-Myers Sqibb are Bufferin, Excederin, Enfamil, Clairol, and Sea Breeze. Another large part of BMS is their research and development of new pharmecutical products. Their annual budget for research and development is in excess of one billion dollars.
The American Red Cross, a non-profit organization is implementing a new industry standard system called BioArch to track and process its blood products. The new infrastructure will improve the quality of its blood products since employees will be able utilize products based on inventory and age. The system also improves the product tracking process currently in place and it promises to improve customer relations since most competitors are already using the BioArch system. Currently, systems regionally are different and therefore inventory is kept separate. This creates challenges in meeting customer demands and it increases manufacturing manual processes.
In the recent years the drug industry underwent a significant transformation. Many of the big companies generate high revenues, which allow them to expand. Some of them expand on their own others through mergers and the buying of smaller companies.
“Filling the shoes of a remarkable, experienced, and thoughtful leader such as Mr West is a formidable task. However, I am really honored to have been given such a wonderful opportunity and excited about the challenges and opportunities that lie ahead,” said Mr. Leschly. This is a huge step forward in my career and I am looking forward to leading the company as we embark on this new journey. The company has a reputable history of leadership and success in the pharmaceutical industry and I hope to
• It allows pharmaceutical companies to create awareness of their products among patients and healthcare professional, increase sales, create consumer loyalty and fight against the threat of generic products.
A blockbuster drug is the one which generates more than $1 billion of revenue for the pharmaceutical company that sells it each year."In the pharmaceutical industry, a blockbuster drug is termed as the one that achieves acceptance by prescribing physicians as a therapeutic standard for, most commonly, a highly prevalent chronic (rather than acute) condition. 'Blockbuster’ drugs play a key role in the pharmaceutical industry. However, discovery and development alone are not enough to create a blockbuster; the firms must be able to market the drug aggressively to achieve the potential gains from their innovation. A report from URCH Publishing estimated that one third of the pharma market is accounted for by blockbuster drugs by value. Between 2000 and 2005 drugs with more than $1billion in sales accounted for 28 to 36% of global sales changes in the sales of these drugs can cause large changed in a firms profitability .There are arguments that while many firms are capable of discovering and developing new drugs, only a handful of firms are capable of successfully commercializing a breakthrough innovation. This commercialization capability is what creates a blockbuster: without this capability, even a major innovation would not reach blockbuster status For example: Cimetidine was the first drug to reach a $1 billion target thus making it a blockbuster drug.
A pharmaceutical company is the number of patients tested, to test their new drugs to fight cancer. Some marketing decisions, or fine-tune the new product ...
Main Issue In 2000, Rich Kender, Vice President of Financial Evaluation and Analysis at Merck & Company was discussing the opportunity of investing in licensing, manufacturing and marketing of Davanrik, a drug originally developed to treat depression by LAB Pharmaceuticals. LAB proposed to sell the rights of all the future profits made from the successful launch of Davanrik at the cost of an initial fee, royalty payments and additional payments as the drug completed each stage of the approval process. Merck & Company's organizational goal is to constantly refresh its drug development portfolio and reach as many customers as possible during the patented period. So there was not only the potential of financial gain or quantitative aspect of the offer, but also the qualitative value which will be added by getting better positioning in the risky pharmaceutical industry.
Throughout many generations the success of medicine has been dog-eared throughout history, from penicillin being created through colonized bacteria on an agar plate to chemotherapy being used to combat the ailments of cancer, we as a society rely a great deal on the effectiveness of medicine. Due to this realization one can agree that it is imperative that the medications that are being distributed and placed on the pharmaceutical market are tested and analyzed at all angles and perspectives to ensure they work effectively and successfully resulting in moderate to no side effects. The progressive industry of medicine has greatly increased since the early nineties thanks to the advancement in medical technology making
There are a lot of people who are working hard to acquire great innovations which can prove to be beneficial for them and also for others. The industry of medical has profited a considerable measure due to the these people. We now have more assortment and more items in the therapeutic market than the older times.
This week’s case study concerning Genzyme’s strategic direction was very interesting in that they essentially pursued a strategy that seemingly was purposely avoided by other players in the pharmaceutical industry (Schilling, N.D.). Their strategy centered on developing prescriptions for rare diseases. Typically “developing a drug takes 10 to 14 years and costs an average of $800 million to perform the research, run the clinical trials, get FDA approval, and bring a drug to market,” and in turn it is normally intuitive, from an economic standpoint, to attempt to develop drugs that will have a substantial market so to be able to assure enough revenue is generated to produce a significant profit. In turn, drugs marketed towards treating
Since its humble beginning as a small drugstore, Merck has placed a large amount of importance on improving the health and well-being of its customers. As drug patents expire and genetic forms of their top products become available, Merck’s strategy is to do the unexpected; instead of raising the price of their older products in favor of patent protected new drugs, Merck focuses on reducing their cost in order to better compete with their generic counterparts. Additionally, Merck’s plan for growth now encompasses a much more aggressive pursuit of new drugs in their pipeline through extensive research. Merck became the second largest health care company in the world after the merger with Schering-Plough in 2009 and has contributed great discoveries like the first cervical cancer vaccine and great resources like the Merck Manuals which are utilized as a source of information to doctors, scientists and consumers worldwide .
There is an increasing pressure within pharmaceutical markets to reduce prices in line with medical budgets, as well as maintaining patent expirations. Being a global brand means disturbance in the operations when the market fluctuates. There is an internal weakness in the pharmaceutical industry, which includes theft and counterfeiting of drugs, and therefore is a weakness of Johnson & Johnson. While Johnson & Johnson has these specified weaknesses they deal with, there are even more opportunities which gives them an advantage for strengthening their position in the market. They already have the strength of meeting a broader range of customer needs with their products falling under three categories. Expiring patents on brand name drugs lead to an increase in the sales of generic drugs, Johnson & Johnson could capitalize upon this opportunity. With diagnostic markets growing, this positions the company in a good place as well as new medical therapies and findings that align with some of the company’s primary capabilities. Threats the company faces is with product recalls, extreme competition in pharmaceuticals that results usually in the first to enter is generally where success is determined. With technology developments, biotech concepts might possibly move the traditional pharmaceutical methods out of the
The company shows a flat organization in which there are few layers of management but has broad span of control. According to the chart, the company develops a decentralized authority in the level of their management due to which they focus more on adapting to what customer wants based on decision making from the lower level managers who are more familiar in the local conditions. This type of authority allows them to understand customers such as patients’ needs in order to develop strategies to fulfill this requirement According to Figure 1, they primarily focus more on the health care system and invested in about $7.5 billion dollars in research and development to create a strong product portfolio. The culture of this organization demonstrates a formal organization in order to guide the lines of authority as well as the responsibility for the company. According to Johnson and Johnson Credo statement, their main focus is towards the responsibilities of the doctors, nurses, and patients as well as their employees. They also state their growing responsibilities toward the shareholders and to the communities in order to research and develop new innovations in towards civic improvement to the communities. This entails that they fully care for their customers and employees in which its shows in
Pfizer’s idea of removing these tedious and extremely time consuming items and placing them with another company is a genius move in so many ways. They have been able to reduce costs and improve the bottom line by giving these tasks to people that are making a lot less than the Pfizer employees. Efficiently speaking, this allows the Pfizer employee to focus on the tasks that they were hired to do. Why have someone doing a job that cost $5 an hour when you are paying them $20? This question now has an answer – you don’t. Hadley Baldwin (2015) provided four improvements needed for success as a leader today. They were embracing collaboration, knowing your business better, following the money and thinking about you and your team. PfizerWorks addresses all of t...