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Book Cover
Author Kim, Rachel.

Title Economics and Management in the Biopharmaceutical Industry in the USA : Evolution and Strategic Change
Published Milton : Routledge, 2018
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Description 1 online resource (151 pages)
Series Routledge Studies in the Economics of Business and Industry Ser
Routledge Studies in the Economics of Business and Industry Ser
Contents Cover; Half Title; Series Page; Title Page; Copyright Page; Contents; Author's words: overview of strategic management and corporate practice in the United States; 1 Introduction; Main contributions of the biopharmaceutical industry; Current public health issues in the United States; 2 In the early days of the pharmaceutical industry worldwide; Aspirin in Germany and penicillin from the United Kingdom to the United States; Aspirin discovery in Bayer, Germany; Penicillin discovery in the United Kingdom; Pfizer from 1849-1939: fermentation innovator
Dogfight 1: AbbVie's Humira® versus Amgen's Amjevita®Dogfight 2: AbbVie's Humira® versus Samsung Bioepis Co.'s Imraldi®; Dogfight 3: Johnson & Johnson's Remicade® versus Samsung's Renflexis®; The future of biosimilars; AbbVie: best strategist with innovative drugs; Generic brands: now very important business models; 8 Opportunistic business models in the generic drug market; Mylan: the path to becoming a giant generic drug company; Unanticipatedly strong patents defense of Bristol-Myers Squibb; Turing Pharmaceuticals: too opportunistic, yet legal business model
Drug Act Amendments of 1962: scientific evidence of safety and efficacyDrug Price Competition and Patent Restoration Act of 1984 for generic drugs; The Orphan Drug Act of 1983 for rare diseases; Off-label prescribing practice; The Prescription Drug User Fee Act (PDUFA) in 1992; 7 Law and strategies: how biopharma's strategies adapted in response to US law changes; Health-care spending in the United States: the economics of biosimilars; Law changes since 2009; Implications of the Biologics Price Competition and Innovation Act; Biosimilars: new business models
New biotechnology firms' emergence in a social context: response of science communities, science departments at UCSF, UC Berkeley, and StanfordNew biotechnology firms' emergence in the legal environment; Case study 1: Genentech, the first biotechnology firm; Case study 2: Amgen, the second biotechnology company; 5 New biotechnology firms' emergence from a pharmaceutical management perspective; Case study 3: Eli Lilly's open innovation; Early history of Eli Lilly; Case study 4: Bristol-Myers Squibb (BMS); 6 US regulations on the biopharmaceutical industry and their impact
Pfizer in the 1940s: large-scale penicillin manufacturerPfizer in the 1950s: new pharmaceutical company with Terramycin®; Streptomycin discovery by Waksman and patented by Merck; Shift from Germany to the United Kingdom and United States: 1950s-1960s; 3 The birth of biotechnology; Slow progress despite gene splicing technology breakthrough; Breakthroughs from the two collaborators; Fear of the unknown; The first patents in the recombinant DNA area; Genentech was born; 4 Emergence of biotechnology firms in the 1970s-1990s; Threats of young competitors with new knowledge
Summary From a managerial perspective, the biopharmaceutical industry represents a competitive, fast-changing, intellectually-powered, innovation-driven sector. Many management scholars have studied this discontinuous era to make sense of strategic behavior and the cognition of firms and top managers. A past look at the biopharmaceutical industry provides answers to questions that most managers have. For example, what options do you have and what actions do you take when new firms enter your industry? In the 1970s, new biotechnology firms, funded by venture capitalists, appeared in the pharmaceutical industry with new knowledge. Successful pharmaceutical firms decided to collaborate with the new entrants and forge relationships to develop and create new, biotechnology engineered drugs. Thus, the addition of new biotechnology firms ushered in a new business model based on strategic alliances. Strategic alliances have now become an industrial norm called open innovation. The author looks at the historical path of the biopharmaceutical industry, particularly in the United States. While the pharmaceutical industry's main contributions to society are substantial, there are pressing challenges the industry must face, such as an increase in infectious disease outbreaks or the global aging population, which require new types of care, additionally, mental health care and prescription painkiller addiction are persistent issues with economic repercussions to both federal and local governments. This book presents a holistic view of the biopharmaceutical industry, putting it in a historical context. It will best serve those who are eager to learn about this dynamic, fast-evolving industry andwho would like to tackle current biopharmaceutical industry issues in the United States and be prepared for future industry challenges
Notes 9 Low productivity of drug companies
Print version record
Subject Knowledge management.
Pharmaceutical industry -- Economic aspects -- United States
Pharmaceutical industry -- Management.
BUSINESS & ECONOMICS -- Research & Development.
Biopharmaceutical industry.
Economics of industry.
FDA regulations.
Industrial Innovation.
Knowledge management.
Pharmaceutical industry -- Economic aspects.
Pharmaceutical industry -- Management.
Regulatory reform.
SCIENCE -- Biotechnology.
Strategic alliances.
United States.
Form Electronic book
ISBN 1351012681