Effects of exposure of childhood to domestic violence

 
Running Head: Effects of exposure of childhood to domestic violence





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Introduction 
Pharmaceuticals industry is both inevitably vital for the health sector and also subject to most stringent safety regulations; two factors which prominently affects it. This document discusses the SWOT analysis for the industry as influenced by these factors and others impacting on ordinary business venture. The document begins by depicting the picture of the industry in the future, the prospects, in terms of signs of success and of challenges facing it as a result of legislations and/or policies put in place. The policies and legislations affecting the industry emanates from both regulatory bodies and organizations that control commerce. These together constitutes external environment of the industry, (Hill & Jones, 2011, pp. 9-10).
The concerted effort to ban live TV advertisements of new drugs could reduce the pharmaceutical companies’ ability to access market. However, there has been promising rise in the internet marketing which is predicted to overtake the TV advertisement. The companies may consider embedding their products advertisements in the “smart phone” applications. The social media advertising may be considered as another means of advertising by the industry due to its access to large number of population and speed with which information is spread. The new healthcare reform legislation may see pharmaceutical industry growth rate increased. This will promoted by the expected rise in the demand of drugs in the US an even in the emergent economies where there is increase in middle income earners. The recent quest by the congress to create approval process which will allow the Food and Drug administration (FDA) to approve generic versions of drugs known as follow-on-biologics is likely to provide branded pharmaceutical drug companies with an unprecedented competition which would easily beat them off market share. The generics are cheaper and therefore guarantees affordable healthcare as the branded drugs have continued to be expensive. With development in technology and sources of information, the patients are steadily becoming aware of their rights to proper healthcare and are empowered to make critical decisions on the choices of healthcare options as pharmaceutical continue to face even more scrutiny. This is also partly influenced by the high cost of healthcare since they will demand equally better healthcare in return of their expenditure.
Opportunities in pharmaceutical industry
Amid the great deal of threats and challenges in the pharmaceuticals industry, there are a number of opportunities which can be opted for. Pharmaceuticals could choose to ride safely on the benefits of health reform process to give them leverage on the market share by beating the competition posed by the generics. The reform could see the generic companies face regulatory scathe. The branded pharmaceutical companies may also prefer to venture into biosimilars to shrug of the competition from the generics, (Ledford, 2010). These drugs may not be easily aped by the generic companies and therefore stand a hence of surviving the competition. There are also huge opportunities in orphaned drugs: drugs which are manufactured for rare, chronic or degenerative conditions. Most drug companies have ignored this market because it looks small. However the drugs are relatively cheaper to manufacture and the cost of treatment is high which makes it a viable venture. Lastly, the growth of middle income earners in emerging economies provides a potential market for drug industry.
Threats facing pharmaceutical industry
(Kessel, 2011), discusses a number of these threats. To begin with, the synergistic effect of fast expiring patents, longer timeline taken for introduction of new drug and the fast proliferation of the generics has presented one of the most difficult threats in the industry to deal with. When patents are fast expiring while timeline taken for drug to be brought into the market has remained longer, the branded pharmaceuticals has in many occasions lost competitive strength to the fast growing generics. Two, a lot of time taken in identifying commercially viable drug substances coupled with conduction of expensive trials and expensive marketing and sales. Definitely, this has made branded pharmaceutical companies experience slow growth in its revenues over time.
Three, the safety regulations; drugs are faced with the most strict safety precautions. Therefore, they have to take time in carrying out large number of expensive trials. This not only takes time, it also consumes a lot of resources and severs the profit margin. The trials are inevitable and cost is a must to earn the much needed credibility. With the healthcare reform put in place, most drug companies could easily frantically engage in even more expensive undertaking to earn the trust and acceptance of