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Biotechnology In Pharmaceutical Industry

796 Words4 Pages

Development of biotechnology in pharmaceutical industry provides benefits for both patients and firms. On one hand patients prosper ability to achieve much safer and specific treatment due to advanced biotechnological drugs which leads to better quality of life. Innovations in pharmaceutical industry plays critical role in improving total health in society. On the other hand pharmaceutical firms benefits from entering biotechnological industry by increasing market share and profitability and decreasing threat of imitation by competitors.
With reference to above issues, this study will try to discover new information and knowledge into important subject of development of biotechnology in pharmaceutical industry in Iran. Existing studies show …show more content…

Discovery, development and prescribing drugs save people’s life or improve quality of their lives. Proper using of medicines reduces the need for surgical intervention and prevents or decreases the length of time of hospitalization and therefore manages the healthcare costs.
Pharmaceutical industry is one of the most profitable and critical industries for each country. The market of the industry includes enormous portion of population, therefore pharmaceutical industry represents a considerable economic weight and is a strong driver of local and national economy. It employs a large number of people directly and indirectly, and makes a huge contribution to the balance of trade each year.
The industry is located in the center of world class sciences and each year a substantial amount of revenues are spending on R&D in order to access to new products and advance technologies to stay competitive in the market. Although the research process is long and expensive, with low odds of success, the medicines that do eventually gain approval greatly improve patients’ lives. The research investments of the industry provide a better life for millions of patients and a strongeconomy for …show more content…

Many of large pharmaceutical companies changed their strategies and implemented new ones such as strategic alliances with small startups and other parties to access necessary resources and capabilities to achieve competitive advantage and increase their market shares.
Biotechnology is a growth factor for many countries from their governments’ point of view. This is an economic resource and a national asset for each country. Because of importance of biotechnology development in pharmaceutical industry, it is vital to determine level of development of these advances in the world and in different countries. Several studies are done to determine development of biotechnology in various countries.
A study by Fontes and Novais (1998) about development of biotechnology in Portugal shows that development of biotechnology in different countries depends on characteristics

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