Biotechnology Companies Challenge the Future of Pharmacy
The pharmaceutical industry finds, develops, manufactures, and sells pharmaceuticals or medicines for the purpose to heal them, to treat them, cure them, or relieve their symptoms. Pharmaceutical industries can specialize in biotechnology, generic or brand medicines and medical devices. A manufacturer can also be a distributor of the same or similar products under different brand names.
Recently, the article continues to ask ourselves, will the pharmaceutical industry of tomorrow be the “acea” to all health-related problems or can it be nothing but a “scorched-earth policy” when it comes to new diseases and technologies? To answer this question, we need to look beyond the traditional view of what a pharmaceutical company can do. Traditional pharmaceutical companies focus on the development, manufacture, marketing, and distribution of medications. Biotechnology companies on the other hand focus on the development of medicines, but in the biological manner. In the article, we shall see how the two organizations are unique and what separates them from one another.
The article continues to explain the challenges that face the pharmaceutical manufacturing industry and the impact that the changes can have on the international pharmaceutical market. It is true that the business is primarily concentrated in developing and commercializing the new pharmaceuticals. But the changes in regulation and laws can greatly affect the way pharma is marketed, distributed, and consumed. So, we cannot discount the importance of these issues when we are discussing the future of pharma.