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.
The painkiller Vioxx was introduced in 1999 by Merck & Co. It has been used by over 20 million Americans since it was put on the market. Vioxx remained on the market for approximately five years without adequate warnings about its risks. In September of 2004, Merck took Vioxx off the market after a study revealed that it doubled the risk of heart attack or stroke for patients that used it for more than 18 months. Although Merck claimed that they had no idea of these possibly lethal side effects, some internal documents imply that they had been aware of the problem for years and had not made moves to change it. Over 300 lawsuits have been filed against Merck, and it is expected that thousands more will arise.
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.
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 world of healthcare changes every day. Technology, as we know it evolves and changes the actual care that patients receive and even post care as well. It has been determined that most faults are caused by system failures. When a break in the system has occurred it must then be decided where the,” inefficiencies, ineffective care and preventable errors” to then influence changes within the broken system (Hughes, 2008). Improvements sometimes can begin with measurements and benchmarks which in turn will allow organizations to assess the trouble spots and broken areas within the system. Many times those broken areas within the system will be owned by the humans who operate within these systems. According to the Institute of Medicine (IOM)
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.
Threat of new entrants is relatively high. Companies forming alliances are potential rivals. Even if earlier such company was not considered to be a threat, after merging with some research and development company or forming alliance with another pharmaceutical company it would become a rival to Eli Lilly. The threat is however weakened by significant research and development costs necessary to successfully enter the business. Eli Lilly’s focus on a relatively narrow market of sedatives and antidepressants weakens the threat of new entrants, but other products that form lesser part of company’s sales such as insulin and others are exposed to high threat of new entrants. The need of obtaining certificates and licenses also weakens the threat of new entrants. Discussed above leads to the conclusion that threat of new entrants is medium.
Likewise, being analytical is critical in this field, because it will help me during the job when I have to manage the warehouse or improve the production
Within this paper, the scenario “Noninvasive Cardiovascular Laboratory” dances around the facts of lab orders being backlogged. However, the fragments within the scenario are staff, budget, performance, productivity lag, and time restraints. Quality improvement and adjustments will lead the lab in the direction of producing effectively. Furthermore, the lab requires competent leadership for the department to meet its goals. The methodology of a leader varies and that their focus remains on reducing waste, identifying all moving parts, diverting back to the fundamentals, and utilizing all available resources. Therefore, to increase the lab productivity, the leader in this scenario must find a way to reach the results of concluding that the lab has eliminated all unnecessary measures and implemented change. Overcoming the possibility of not maintaining production poses a challenge. Nevertheless, problem-solving decreases deficiencies by promoting quality improvements and effective leadership.
Over the past decade, scientists have made significant advancements in the treatment of certain diseases. Unfortunately, just like any new product, the cost of developing these new technologies and treatments is extremely high. Plus, unlike other technology, heath technolo...
A partner to the business brings an advantage of providing additional capital, resources, and other material to develop the ABX-EGF drug program, all the while limiting the amount of risk that Abgenix takes on. For example, the drug may not develop correctly and fail in trail(s), or possibly the turns out to be unsuccessful, this after Abgenix provides a large amount of their limited resources. It’s also a benefit that the partner will have complementary knowledge, assets, and resources to market, sale, test, and develop the drug for market and/or testing. A significant hurdle is the testing phases and other regulation under the FDA Center for Drug Evaluation and Research (CDER). When the drug demonstrates its effects and the company moves forward, or makes required changes, it develops experience and knowledge that will be needed for future drug compounds. A mosaic of studies have further shown that collaboration can be a powerful tool towards higher achievement and increased productivity since collective efficacy can significantly boost groups’ aspirations, motivational investment, morale, and resilience to challenges. It’s noted that there is presence of competition in the market (AstraZeneca and Genetech), producing similar products or are in the development phase of copying the cancer fighting techniques. With that being said, adding a partner further assists Abgenix in pushing the ABX-EGF to market quicker, which decreases various costs to adapt to sudden changes. Overall, it’s in the best interest for Abgenix to join with a partner to increase the chan...
Johnson & Johnson is an American transnational pharmaceuticals company founded in 1886. J&J specializes in medical device production, goods manufacturing, and consumer packaging products. J&J is based in New Brunswick, New Jersey, with a secondary Consumer division based in Skillman, New Jersey. J&J possesses subsidiary companies spanning over two hundred fifty companies functioning throughout the span of fifty seven countries. Johnson & Johnson businesses and sales incorporate over one hundred seventy five countries and produce a whopping sales record of seventy four billion dollars in the year 2014.
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 .
PROBLEM STATEMENT Teva Pharmaceuticals, the first multinational pharmaceutical company in Israel, has become a successful global giant in the industry of generic drugs. After experiencing a long period of success and growth in the generic drug industry against some big western pharmaceuticals, the company had acquired many well known pharmaceutical companies and had achieved its goal of $1 billion. theory seemed to be in trouble in building a new strategy and vision to compete with the rapidly growing generic industry. They confronted two big issues as key hurdles in their way.
Pfizer has a senior leadership that is strongly committed to using analytics to reduce operating costs while increasing revenues. One of the ways senior leadership has accomplished this was to focus on real-time data collection as a strategy in customer analytics. Sales personnel are now equipped with tablets that allows Pfizer analytics teams to collect large amounts of data from customers in real-time. The data is synced daily thus giving Pfizer the ability to detect patterns which allows them to make decisions concerning sales more efficiently (Davenport& Harris 2011).
Companies have transformed technology from a supporting tool into a strategic weapon.”(Davenport, 2006) In business research, technology has become an essential means that many organizations use in their daily operations. According to the article, Analytics is a major technological tool used. It is described as “the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions."(Davenport, 2006) Data is compiled to enhance business practices. When samples are taken, they are used to examine research and understand how to solve problems or why situations are as they are. Furthermore, in this article, Thomas Davenport discusses analytics from a business standpoint. He refers to organizations that have been successful in their usage of data and statistical analysis. In addition, he also discusses how data and statistics can be vital in the efforts to improve the operations of businesses.