topic study on financial_research

May 28th, 2015
Studypool Tutor
Abraham Lincoln University
Price: $20 USD

Tutor description

The functional area my project focuses on is marketing. Marketing as defined by the American Marketing Association is "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."

Word Count: 6867
Showing Page: 1/46
CHAPTER 1THE PROBLEM AND ITS BACKGROUNDIntroductionA pharmacy features two types of medicines: generic and branded. Generic drugs have the same components as the branded ones. Active ingredients are the chemicals that treat medical conditions. Because they contain similar active ingredients, generics also lead to similar side effects as the brand-name ones. As such, generic drugs are bioequivalent to their branded alternative.Why then do branded medicines cost more than generic drugs? The difference lies in the copyright details, not necessarily in the medicine's components. Whenever a drug-making establishment comes up with a new drug, it pays to retain the rights of advertising and selling it. The new product has a patent, enabling the company to profit exclusively from the drug's sales. The establishment needs the patent in order to earn back the research and development finances.Upon patent expiry, other pharmaceutical establishments can reproduce the branded medicine into generics. As these other companies did not spend for research and testing, they can sell their drugs cheaply. A lower price is also necessary for appealing to customers. As more people go for affordable drugs, the generic manufacturer earn faster than brand-name companies. a. Background of the StudyMedicines also contain inactive ingredients, which are used to formulate the active ingredient into a tablet, liquid, cream or other preparation. These inactive ingredients are called excipients

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