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BIOTECHNOLOGY INDUSTRY.
Term Paper ID:30802
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Essay Subject:
Biotechnology as a global enterprise.... More...
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7 Pages / 1575 Words
3 sources, 4 Citations,
APA Format
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Paper Abstract:
Biotechnology as a global enterprise. A growing part of the pharmaceutical world. Environmental threats and opportunities of the neurobiology and endocrine disorder segment. Competition among manufacturers. Political and ethical considerations. Problems the industry faces. Costs of clinical trials and high cost to consumers. Technology. Importance of research.
Paper Introduction:
Biotechnology Industry—Environmental Threats and Opportunities Profile: Neurobiology and Endocrine Disorder Segment
Currently, the biotechnology industry is controlled by a few big global as well as American companies. This is about to change.
Over the next five years, patents on nearly $40 billion in drugs manufactured by the nation’s large pharmaceutical companies are set to expire…This should crack open the door…for smaller biotech companies to help medicate the world (Business and Company Resource Center, 2002, n.p.).
Competition:
Genentech, “at 25 is regarded as the industry’s elder statesman. It markets an industry-record 10 products and has a
Text of the Paper:
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As peoplelive longer, as the continue to eat fast foods and become obese, the drugsthey need to retain good health are breaking their budgets. "Amgen Inc." Business & Company ResourceCenter accessed via The Gale Group.com "Endocrine Trials Network Established" DrugDiscovery & Technology News, Nov. Whether theindustry will be forced to sell their drugs for less is surely in thefuture. British and American firms are either buying one another, orforming joint ventures. Keeping up to date, not plagiarizing technical data, and honesty abouttrial results are important.International: More and more companies are globalizing. (2 1). Itmarkets an industry-record 1 products and has about 2 products in itspipeline" (Rae-Dupree, 2 2, p. Education is important. References Rae-Dupree, J., Lim, P.J., Sherrid, P. 2 1 accessed via the Gale Group, 2 2. Over the next five years, patents on nearly $4 billion in drugs manufactured by the nation's large pharmaceutical companies are set to expire...This should crack open the door...for smaller biotech companies to help medicate the world (Business and Company Resource Center, 2 2, n.p.).Competition: Genentech, "at 25 is regarded as the industry's elder statesman. Amgen is the industry's largestcompany, but has only four products on the market. 21, 2 2. The second reason, mentioned earlier, isthat some governments have easier approval processes than the U.S.Technology: This segment is important not with newfangled machinery, but indeveloping production and research and testing techniques that can speed upgetting efficacy in a product out to trial and approval faster.Social: The importance of endocrine research and innovations is more importantthan ever. and Boyce, N (2 2)."Biotech's Big Bazaar" U.S. 36). "One of the EndocrineSociety's recent initiatives has been to increase the society's educationand inform members about current and upcoming trials" (Gale Group, 2 2, p.1). government has forbidden it. This is election year, so perhaps some bill will pass Congress thisyear.Ecological: Compared with most industries, ecological concerns are not veryimportant., If there is one concern it is by animal rights groups who feelthat experimentation on animals is inhumane.Energy: Except for the use of some high powered electronic equipment, thebiotech industry is energy-efficient.Economic: The cost of R & D, of clinical trials, of drugs not meeting theirexpectations costs hundreds of millions of dollars in the global biotechindustry. So is the potential of the human genome project, and the use ofaborted fetuses to develop new vaccines and drugs. "In August, Eli Lilly committed more than $2 million to IsisPharmaceuticals.....J(ohnson) & J(ohnson) became a biotech powerhouse bybuying Centacor in 1999 for $4.9 billion" (Rae-Dupree, 2 2, p. The fact that patents are expiring has led some of the largestmanufacturers to not only increase their biotech units, but to create jointventures. This is about to change. News & World Report, Jan. Biotechnology Industry-Environmental Threats and Opportunities Profile: Neurobiology and Endocrine Disorder Segment Currently, the biotechnology industry is controlled by a few bigglobal as well as American companies. Is cloning on thehorizon? However, the American companies claim that the FDAis much too slow, compared to overseas regulatory agencies, to approve newdrugs. Congress has a number of bills about medical costs. Biotechnology is a growing part of the pharmaceutical world, andmergers, acquisitions, joint ventures and increased R & R make it a multi-=billion dollar global enterprise, with large and small companies racingfor approval of their drugs.Political: As long as there is no human genome project underway, there is littlegovernment interference. For this reason, many of the companies are either buying, beingbought by, or creating partnerships with overseas companies in order tosell their drugs where restrictions are not as tight as in the U.S. No author listed. Serono is the world'sthird-largest biotech firm, successfully focusing on reproductive health"The 95-year old Swiss drug manufacturer has six biotech drugs on themarket: three fertility treatments, two versions of a growth hormone, and amultiple sclerosis drug. Nevertheless, likewith Dot.Com new companies, investors are putting money into the newbiotech companies, expecting one of their products to hit it big.Spirit/Ethics As mentioned above, the use of animals in research is causingproblems. One major problem that the industry faces is the high cost to theconsumer. 39). The reason is two-fold.First, the economy of scale: larger companies can somehow reduce theiroverhead and R & D, specializing in various endocrinogical products as wellas biotech products, instead of each company doing a separate researchproject. While there are profits, of course, the bottom line could be muchhigher if so much revenue was not spent on research and development of newdrugs. This is not an excuse for high prices, according to the industry,but a verifiable fact of doing business in the future. What raw materials are used.And even how fair and honest clinical trials are make the ethical behaviorof the industry important. The U.S. No author listed (2 2). Statistics now show that one of every 5 Americans is overweight.Many now go not to Weight Watchers but to their doctors for medication toreduce their hunger pangs. So is the Swiss giant, Hoechst, Dow, Lilly, Johnson& Johnson, Pfizer and Schering-Plough are some other companies now withoverseas partners, or vice versa. BIOTECH INDUSTRY THREATS AND OPPORTUNITIES: Impact of Importance Threat/Factors factors of factor Opportunity RankCompetitive -5 1 -5 1Political -3 6 -18 2Ecological +1 1 1 3Energy +1 1 1 4________________________________________________________________Economic 4 7 28 5________________________________________________________________Spirit/Ethics 2 4 8 6International 5 5 25 7Technology 4 6 24 8Social 5 9 45 9 124 ______Impact is ranked from -5 (strongly negative) to +5 (strongly positive)Importance is ranked from 1 (unimportant) to 1 (very importantThe reason "Social" ranks so much higher than technology is the increasedimportance of health- conscious efforts that affect longevity, such asobesity, diabetes and neuroscientific innovations that are endocrine-related. Billions are going to be spent by consumers in the next few yearsfor weight- and hunger-reducing drugs. Obesity is related to the endocrine process inthe body.
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