01-09-2012, 03:55 PM
PHARMACUTICAL INDUSTRY
PHARMACUTICAL.doc (Size: 61.5 KB / Downloads: 56)
INDUSTRY PROFILE
THE HISTORY OF PHARMACUTICAL COMPOUNDING
The History of the Pharmacy and Pharmacology dates back to the medieval times with priests, both men and women, who ministered to the sick with religious rites as well. Many peoples of the world continue the close association of drugs, medicine, and religion or faith. Specialization first occurred early in the 9th century in the civilized world around Baghdad. The notion of an Egyptian origin has a certain romantic appeal, but in all likelihood the word "pharmacy" and its many cognates derive, like so many other scientific terms, from the Greek.
GREEK NATURAL PHILOSOPHY
The first culture to consider these ideas scientifically was that of the Greeks. From the time of Thales, about 600 BC, Greek philosophers were making logical speculations about the physical world rather than relying on myth to explain phenomena. Thales himself assumed that all matter was derived from water, which could solidify to earth or evaporate to air. His successors expanded this theory into the idea that four elements composed the world: earth, water, air, and fire.
THE INDUSTRIAL REVOLUTION
The rapid change from hand methods to machine methods of production that characterized the Industrial Revolution found a ready application in pharmacy, especially under the impact of the scientific developments of the nineteenth century. Phytochemistry and synthetic chemistry created new derivatives of old drugs and new chemical entities of medicinal value that strained the capacity of the individual pharmacy. Large scale drug manufacturing had its strong hold on society with the advent of machines and patents.
The progress made by this new industry is demonstrated by the catalogue of the American firm G.D. Searle, which by the late 1880’s listed 400 fluid extracts, 150 elixirs, 100 syrups, 75 powdered extracts, and 25 tinctures and other drug forms.
THE TWENTIETH CENTURY PHARMACIST
The most notable change in pharmacy in modern times has been the virtual disappearance of the preparation and compounding of medicines. Whereas in the 1920s, 80 percent of the prescriptions filled in American pharmacies required a knowledge of compounding, by the 1940s the number of prescriptions requiring compounding had declined to 26 percent. As far back as 1971, only 1 percent, or less, of all prescriptions combined two or more active ingredients.
Pharmaceutical Industry
Marketing changed dramatically in the 1990s, partly because of a new consumerism. The Internet made possible the direct purchase of medicines by drug consumers and of raw materials by drug producers, transforming the nature of business. In the US, Direct-to-consumer advertising proliferated on radio and TV because of new FDA regulations in 1997 that liberalized requirements for the presentation of risks. The new antidepressants, the SSRIs, notably Fluoxetine (Prozac), rapidly became bestsellers and marketed for additional disorders.
Drug discovery is the process by which potential drugs are discovered or designed. In the past most drugs have been discovered either by isolating the active ingredient from traditional remedies or by serendipitous discovery. Modern biotechnology often focuses on understanding the metabolic pathways related to a disease state or pathogen, and manipulating these pathways using molecular biology or Biochemistry. A great deal of early-stage drug discovery has traditionally been carried out by universities and research institutions.
Drug development refers to activities undertaken after a compound is identified as a potential drug in order to establish its suitability as a medication. Objectives of drug development are to determine appropriate Formulation and Dosing, as well as to establish safety. Research in these areas generally includes a combination of in vitro studies, in vivo studies, and clinical trials. The amount of capital required for late stage development has made it a historical strength of the larger pharmaceutical companies.
Increasing Political Attention:
Over the years, the industry has witnessed increased political attention due to the increasedrecognition of the economic importance of healthcare as a component of social welfare. Politicalinterest has also been generated because of the increasing social and financial burden ofhealthcare. Examples are the UK’s National Health Service debate and Medicare in the US..
The Social Dimension:
Good health is an important personal and social requirement and the unique rolepharmaceutical firms play in meeting society’s need for popular wellbeing cannot be
underestimated. In recent times, the impact of various global epidemics e.g. SARS, AIDS etchas also attracted popular and media attention to the industry. The effect of the intense mediaand political attention has resulted in increasing industry efforts to create and maintain goodgovernment-industry-society communications.
Technological Advances:
Modern scientific and technological advances in science is forcing industry players to adapt everfaster to the evolving environments in which they participate. Scientific advancements have alsoincreased the need for increased spending on research and development in order to encourageinnovation.
Legal Environment:
The pharmaceutical industry is a highly regulated and compliance enforcing industry. As aresults there are immense legal, regulatory and compliance overheads which the industry has toabsorb.
Increased Competition:
A major issue facing the industry is the intense competition and the changing face the
pharmaceutical market. The industry has seen a legion of new market entrants, increased
competition among key players and industry consolidation. A host of large-scale mergers andacquisitions have taken place over the last two decades. Competitive advantage within theindustry is being constantly redefined and to maintain their presence, key industry players arebeing forced to revamp their organisational structure, overcome huge barriers in R&D, clinicaltrials simply to ensure continuity and maintain profitability.
PHARMACUTICAL.doc (Size: 61.5 KB / Downloads: 56)
INDUSTRY PROFILE
THE HISTORY OF PHARMACUTICAL COMPOUNDING
The History of the Pharmacy and Pharmacology dates back to the medieval times with priests, both men and women, who ministered to the sick with religious rites as well. Many peoples of the world continue the close association of drugs, medicine, and religion or faith. Specialization first occurred early in the 9th century in the civilized world around Baghdad. The notion of an Egyptian origin has a certain romantic appeal, but in all likelihood the word "pharmacy" and its many cognates derive, like so many other scientific terms, from the Greek.
GREEK NATURAL PHILOSOPHY
The first culture to consider these ideas scientifically was that of the Greeks. From the time of Thales, about 600 BC, Greek philosophers were making logical speculations about the physical world rather than relying on myth to explain phenomena. Thales himself assumed that all matter was derived from water, which could solidify to earth or evaporate to air. His successors expanded this theory into the idea that four elements composed the world: earth, water, air, and fire.
THE INDUSTRIAL REVOLUTION
The rapid change from hand methods to machine methods of production that characterized the Industrial Revolution found a ready application in pharmacy, especially under the impact of the scientific developments of the nineteenth century. Phytochemistry and synthetic chemistry created new derivatives of old drugs and new chemical entities of medicinal value that strained the capacity of the individual pharmacy. Large scale drug manufacturing had its strong hold on society with the advent of machines and patents.
The progress made by this new industry is demonstrated by the catalogue of the American firm G.D. Searle, which by the late 1880’s listed 400 fluid extracts, 150 elixirs, 100 syrups, 75 powdered extracts, and 25 tinctures and other drug forms.
THE TWENTIETH CENTURY PHARMACIST
The most notable change in pharmacy in modern times has been the virtual disappearance of the preparation and compounding of medicines. Whereas in the 1920s, 80 percent of the prescriptions filled in American pharmacies required a knowledge of compounding, by the 1940s the number of prescriptions requiring compounding had declined to 26 percent. As far back as 1971, only 1 percent, or less, of all prescriptions combined two or more active ingredients.
Pharmaceutical Industry
Marketing changed dramatically in the 1990s, partly because of a new consumerism. The Internet made possible the direct purchase of medicines by drug consumers and of raw materials by drug producers, transforming the nature of business. In the US, Direct-to-consumer advertising proliferated on radio and TV because of new FDA regulations in 1997 that liberalized requirements for the presentation of risks. The new antidepressants, the SSRIs, notably Fluoxetine (Prozac), rapidly became bestsellers and marketed for additional disorders.
Drug discovery is the process by which potential drugs are discovered or designed. In the past most drugs have been discovered either by isolating the active ingredient from traditional remedies or by serendipitous discovery. Modern biotechnology often focuses on understanding the metabolic pathways related to a disease state or pathogen, and manipulating these pathways using molecular biology or Biochemistry. A great deal of early-stage drug discovery has traditionally been carried out by universities and research institutions.
Drug development refers to activities undertaken after a compound is identified as a potential drug in order to establish its suitability as a medication. Objectives of drug development are to determine appropriate Formulation and Dosing, as well as to establish safety. Research in these areas generally includes a combination of in vitro studies, in vivo studies, and clinical trials. The amount of capital required for late stage development has made it a historical strength of the larger pharmaceutical companies.
Increasing Political Attention:
Over the years, the industry has witnessed increased political attention due to the increasedrecognition of the economic importance of healthcare as a component of social welfare. Politicalinterest has also been generated because of the increasing social and financial burden ofhealthcare. Examples are the UK’s National Health Service debate and Medicare in the US..
The Social Dimension:
Good health is an important personal and social requirement and the unique rolepharmaceutical firms play in meeting society’s need for popular wellbeing cannot be
underestimated. In recent times, the impact of various global epidemics e.g. SARS, AIDS etchas also attracted popular and media attention to the industry. The effect of the intense mediaand political attention has resulted in increasing industry efforts to create and maintain goodgovernment-industry-society communications.
Technological Advances:
Modern scientific and technological advances in science is forcing industry players to adapt everfaster to the evolving environments in which they participate. Scientific advancements have alsoincreased the need for increased spending on research and development in order to encourageinnovation.
Legal Environment:
The pharmaceutical industry is a highly regulated and compliance enforcing industry. As aresults there are immense legal, regulatory and compliance overheads which the industry has toabsorb.
Increased Competition:
A major issue facing the industry is the intense competition and the changing face the
pharmaceutical market. The industry has seen a legion of new market entrants, increased
competition among key players and industry consolidation. A host of large-scale mergers andacquisitions have taken place over the last two decades. Competitive advantage within theindustry is being constantly redefined and to maintain their presence, key industry players arebeing forced to revamp their organisational structure, overcome huge barriers in R&D, clinicaltrials simply to ensure continuity and maintain profitability.