Pharmaceutical companies are companies licensed to discover, manufacture and distribute pharmaceutical medicines or drugs.
Currently there are about 200 major pharmaceutical companies in the world and some of them use biotechnology to produce drugs.
This particular technique uses biological systems or living organisms to obtain derivatives.
Drugs thus obtained are typically known as biopharmaceuticals, which are turning out to be another important aspect for the companies.
In recent times technology has developed more efficient methods and informatics systems through which the companies study diseases that cause infections and other symptoms.
This study is further used to invent new medicines by identifying active ingredients of traditional medicine.
Pharmaceutical companies have full-fledged laboratories that are equipped with latest infrastructure.
Wherein chemists and scientists work continuously to identify factors such as genetics and cellular structure that play an important role in various diseases.
Establishing this facility is an expensive affair.
The companies are required to have post approval, sales surveillance and a license from the government prior to clinical test of the drugs.
Clinical testing involves three stages, of which the first stage determines the safety and tolerability of the drug.
The second and third stages determine the effectiveness of these drugs.
Extensive drug tests are done on animals before they are administered to humans.
Physicians play a major role in the sales of medicines of pharmaceutical companies.
It is through their prescriptions, that medicines reach patients and have a potential for widening the market.
Hence, these companies advertise and market their products to the physicians first.
Pharmaceutical marketing is complex and requires indigenous discipline.
The Top 5 CEOs of Major Pharmaceutical Companies
1. Werner Baumann
Werner Baumann is a CEO of Bayer, an organization with 118,900 workers, which was established in 1963 Barmen, Germany.
Baumann joined the organization in 1988.
Baumann was CEO of Bayer starting at 2010 and afterward conveyed the title of Chief Strategy and Collection Official.
He also became Chairman of the Panel of Management before being appointed CEO in 2016.
In 2016, Baumann helped bring home $6.6mn.
Bayer is an expanding group, which made $25.27bn in 2016.
2. Oliver Brandicourt
Oliver Brandicourt is CEO of Sanofi.
The business was proven in 2004 and Brandicourt participated in 2015.
This is a long periods of involvement in the pharmaceutical business.
He is a professional doctor who has been doing good job at Pfizer for years.
He was pointed as CEO of Bayer Health care AG before getting to be CEO of Sanofi.
In 2017, Brandicourt brought home $11.6mn.
Sanofi made a good thing about $36.57bn in 2016. The company has more than 110,000 individuals working for the company.
3. John Milligan
John Milligan is CEO of Gilead Sciences, a California-based company which was set up in 1987.
The company now has more than 9,000 individuals working in it.
The organization made $30.39bn in 2016.
Milligan became a member of Gilead in 1990.
Already, he previously worked in a variety of positions in the biotechnology business.
In 2000, he was transferred and becoming Leader of Corporate Development before being made CEO in 2016.
This past year Milligan helped bring home $13.9mn.
4. Jeffrey M. Leiden
Jeffrey M. Leiden is CEO of Vertex Pharmaceuticals.
The organization was set up in 1989 and at the moment has more then 1800 individuals.
This turned a benefit of $1.6bn.
Leiden is a researcher as well as doctor with a diploma from the University of Chicago.
Due to his vocation, he tiresomely worked as an atomic researcher, cardiologist.
He put in the newest three decades to improve the pharmaceutical and biotech businesses.
Leiden joined Vertex in 2000 and this past year he brought home $28.1mn.
5. Alex Gorsky
Alex Gorsky is the CEO of Johnson and Johnson.
The organization was set up in 1886 and turned into a traded company by using an open market firm in 1944.
They have more than 127,100 workers and this past year made $71.89bn.
Gorsky became a member of the organization in 1988 as a company agent for Janssen.
This is a business inside Johnson and Johnson.
He was involved in supervision, deals and advertising before addressing be innovator of Janssen.
He was then made the Company Group Chairman of Johnson as well as Johnson through Africa, European and the Middle East countries.
He was promoted toward and becoming CEO in 2012. This past year Gorsky helped bring home $21.2mn.
Pharmaceutical companies are expanding rapidly due to their utmost need to the society.
Companies present in the industry strive hard to perform better and serve their best to the society, that is, by producing high quality medical devices and drugs for the needy individuals.
These companies need to adopt best practices in the functioning of the company so that they receive appreciation, which would help them create a standard for them self in the market.
Companies need to adopt best practices to improve in the processes that are involved in the execution and production procedures.
As it is said, customer satisfaction is the ultimate goal for any company.
Even pharmaceutical companies strive for the same, as, in this particular industry customer satisfaction is the ultimate, since this is an industry which deals with humanitarian services.
They need to produce the best medical services and medical devices to their patients, so that they could recover faster, and this is the goal of every pharmaceutical company.
If the medical services prove advantageous to patients, it would elevate the number of individuals approaching that particular hospital for all kinds of health related issues.
The companies must produce best quality equipments and drugs so that the sale of the products elevate along with the publicity of the hospital.
The hospital that involves best practices would view success sooner and the service it would provide would prove beneficial to the patients in many ways.
This will make them get back to the same hospital again and again and believe in the medicines developed by a particular brand.
Trust factor needs to be built with the quality services and products, and this is how the bond strengthens.
Some of the major pharmaceutical companies that are known all over the world are Pfizer, Glaxosmithkline and Sanofi-Aventis.
These companies patent all their products, as the risk of forgery is substantially large in this field.
Development in the field of medicine has enabled doctors to provide solutions for diseases, which were incurable earlier.
Pharmaceutical companies play the role of lifesavers.