A pharmaceutical company, or drug company, is a commercial business whose focus is to research, develop, market and/or distribute drugs, mostly in the context of healthcare.[1] They can deal in generic and/or brand medications. They are subject to a variety of laws and regulations regarding the patenting, testing and marketing of drugs.

Pharmaceutical is one of the most intense “Knowledge Driven” industries, which is continually in a state of dynamic transition. The long gestation period between “learning“, “knowledge generation“ and its transformation to “value added knowledge“ necessitates the creation of “Proprietary Knowledge“ which is of paramount importance in establishing and sustaining a global competitive posture. Patents build fortresses around inventions, Trademarks establish and identify brands, Copyrights provide protection to accompanying literature, and Designs Registrations cover novelties in shapes, forms and ornamentation which visually impact consumers.  Globally, these tools of Intellectual Property Rights (IPR) are key components of strategy formulation and implementation by Pharmaceutical Corporations. Protected intellectual assets preserve exclusive markets, maintain profit margins, provide market access and give freedom to operate. IPR portfolio has now become an effective platform for benchmarking of intellectual assets and innovative capabilities of corporations, business entrepreneurs and researchers.  This is extensively being used in today’s world of mergers, acquisitions, strategic alliances, and collaborations, licensing arrangements and Venture Capital Funding in Pharmaceutical and Allied Industries. Corporate houses are restructuring their businesses and focusing in core areas and acquiring technical expertise through collaborations, mergers or acquisitions.

Pharmaceuticals Industry Challenges

·         Attracting and retaining a skilled workforce

·         Controlling operating costs

·         Generic competition

·         Intellectual property protection

·         Managing regulatory compliance

·         Pricing pressures and shrinking margins

·         Realising tangible value from strategic alliances, joint ventures (JVs) and partnering arrangements

·         Reputation management

·         Successfully developing innovative drugs and enhancing research & development productivity

·         Sustaining growth in global markets