Question

Write an initial posting of at least 200 words in which you respond to the questions...

Write an initial posting of at least 200 words in which you respond to the questions below.

Questions for the initial 200 word posting are as follows:

How would you describe the current market structure of the pharmaceutical industry?

Do you think that the typical drug firm possesses any market power based on market structure?

Why or why not?

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Answer #1

The current pharmaceutical industry is in a challenging position as it is still trying to gain back the trust from the publich and manage political challenges. Special drugs and brands are being given importance. The marketing trends changed and there has come a need to directly interact with the public and promote the drug. Pricing issues are also a problem for the industry and many drugs are being banned due to their standards. Physicians are supporting selected drugs and this is causing great turbulence in the industry. Drug firm definately possess power on market structure . Marketing needs to be done based on then drug and the way it is manufactured and hence they need to run according to the firm . Hence the firm has power over the market structure and the the drug plays key role.

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