Pharmaceutical companies have a major social responsibility while performing on a profitable motive. Several public platforms are shared by major pharmaceutical companies for this very purpose.
The pharmaceutical industry has several issues to contend with for profitable survival. The United States does not have regulations for drug prices, but several other regulations monitor the functioning of pharmaceutical companies in the country. Fierce competition from illegal drug imports is also an issue that cannot be ignored by major pharmaceutical companies.
There are several associations that represent pharmaceutical company. The International Federation of Pharmaceutical Manufacturers and Associations is an organization that is at the apex. It is a non-profit and non-governmental organization. Its members are several research based pharmaceutical, biotech and vaccine companies from both USA and other countries as well.
Organizations such as these, work for a global policy environment that is conducive to innovation in the pharmaceutical field. A survey of major pharmaceutical manufacturers indicates that collectively the industry has almost 700 medicines in the pipeline. These medicines are aimed at providing relief to people suffering from various diseases like HIV/AIDS, cancer, heart diseases and stroke among others.
The existence of a platform like an international association provides opportunities to major pharmaceutical companies to have collaborative relationships among themselves and foster industry growth in such a manner that provides avenues for overall improvement in public health while being commercially profitable.
One of the major pharmaceutical companies is Eli Lily, a global player. Their specialties include drugs for cancer, cardiovascular diseases, neurological disorders, endocrinal disorders, diabetes and several infectious diseases. Cephalosporin, erythromycin, insulin and Prozac are among Eli Lily’s major pharmaceutical breakthroughs. Pfizer is another major pharmaceutical company that has contributed a lot to alleviate human and animal suffering. Based in New York, Pfizer has been around since 1849.
Parke-Davis, Proctor & Gamble, Bristol-Myers Squib, Johnson & Johnson, 3M Company, Mars Incorporated, Bayer AG, Quest Diagnostics, Tyco International and Cardinal Health Incorporated are a few of the major pharmaceutical companies in the USA.