The pharmaceutical industry develops drugs to diagnose,
cure, treat or prevent diseases. Pharmaceutical companies produce both generic
and branded drugs. Pharmaceutical drugs are subjected to various laws and
regulations that deal with patenting, testing, safety, efficacy and marketing.
Pharmaceutical drugs are intended for human or veterinary use presented in
their finished dosage form.
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The global pharmaceutical drugs
market grew at a compound annual growth rate (CAGR) of 5% in 2017. This can be
attributed to factors such as aging population, economic growth of individuals
and other reasons mentioned in the report. By 2021, this market is expected to
grow at a CAGR of about 6%.
Novartis emerged among the top competitors for the oncology drug market in
the pharma industry in 2017, with an estimated 11% share of the market.
Novartis is a multinational pharmaceutical company that develops, manufacture
and markets healthcare products. The company was founded in 1970 and is
headquartered in Basel, Switzerland.
Novartis generated estimated
revenues of $14 billion from the sale of oncology drugs during the financial
year 2016. The revenues are TBRC estimates based on the various products/services
offered by the company.
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The company’s business divisions
are supported by Novartis Institutes of Biomedical Research, Novartis Business
Services, Global Drug Development, and Novartis Technical Operations
organizations.
Novartis’ growth strategy in
the pharmaceutical market aims at introducing new products into the market by
investing in research and development activities. In 2016, the company spent $9
billion for research and development of new products and therapies amounting to
18.6% of net sales. The company received five breakthrough therapy designations
from the US Food and Drug Administration in inflammatory diseases and oncology,
including the investigational cancer compound.
TBRC’s report gives the pharmaceutical
industry overview, pharmaceutical statistics, pharmaceutical industry analysis,
pharmaceutical market size, pharmaceutical industry data, and all the top competitors
and their company profiles, along with future trends that will affect the
market.
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