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Pfizer and the Challenges of the Pharmaceutical Industry Study Notes

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Running head: PHARMACEUTICAL INDUSTRY 1
Pfizer and the Challenges of the Pharmaceutical Industry
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PHARMACEUTICAL INDUSTRY 2
a) introduction
The discovery, development, production, and marketing of pharmaceutical drugs to be
administered to patients are done by the pharmaceutical industry. These drugs are made to
cure, vaccinate or reduce symptoms for patients who are in need. Pharmaceutical companies
mainly deal in generic or brand medications and medical devices. Just like any other company
this industry is also subjected to a variety of laws and regulations to govern them and ensure
there is safety and efficiency in the marketing of the drugs (Harrison et al, 2017).
Pfizer is one of the pharmaceutical companies with their headquarters located in
America. It is a multinational pharmaceutical corporation and one of the world’s premier
innovative biopharmaceutical companies. The company produces over 170 different medicines
and vaccines health care products to help improve the lives of millions of people around the
world. The revenue produced by Pfizer makes it a leading global pharmaceutical corporation.
But although the demand for pharmaceutical products keeps rising the industry is still
challenged by a lot of issues and problems.
b) problems
The entire pharmaceutical industry was being accused of taking advantage of people by
increasing the prices of drugs. Pfizer was one of the companies that come under scrutiny back
in 2018 when the then president of the United States Donald Trump accused them of raising
their prices for no reason and taking advantage of the poor and those who cannot depend on
themselves. Generally, pharmaceutical companies face common problems such as parallel

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Running head: PHARMACEUTICAL INDUSTRY 1 Pfizer and the Challenges of the Pharmaceutical Industry Name: Date: Course: Institution: PHARMACEUTICAL INDUSTRY 2 a) introduction The discovery, development, production, and marketing of pharmaceutical drugs to be administered to patients are done by the pharmaceutical industry. These drugs are made to cure, vaccinate or reduce symptoms for patients who are in need. Pharmaceutical companies mainly deal in generic or brand medications and medical devices. Just like any other company this industry is also subjected to a variety of laws and regulations to govern them and ensure there is safety and efficiency in the marketing of the drugs (Harrison et al, 2017). Pfizer is one of the pharmaceutical companies with their headquarters located in America. It is a multinational pharmaceutical corporation and one of the world’s premier innovative biopharmaceutical companies. The company produces over 170 different medicines and vaccines health care products to help improve the lives of millions of people around the world. The revenue produced by Pfizer makes it a leading global pharmaceutical corporation. But although the demand for pharmaceutical products keeps rising the industry is still challenged by a lot of issues and problems. b) problems The entire pharmaceutical industry was being accused of taking advantage of people by increasing the prices of drugs. Pfizer was one of the companies that come under scrutiny back in 2018 when th ...
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