Abstract
This paper examines the various environmental pressures facing the pharmaceutical industry and discusses some of the strategic approaches that companies are implementing in response. The challenge is to provide innovative therapeutic modulates that, on the one hand, satisfy a medical need and, on the other hand, provide financial rewards that stimulate the industry to maintain its traditionally high level of investment in research and development. The challenge is to improve the quality and increase the quantity of novel pharmaceutical products without a commensurate increase in expenditures. The industry is attacking these problems by streamlining their organizations, establishing globalized management procedures, and forming various cooperative relationships such as strategic alliances, joint ventures, mergers, and acquisitions.
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