Swot analysis
STRENGTHS · Voted a top companies for women executives · Voted a top diversity employer · Management authority is delegated very well focusing on their expertise in that area · Products marketed in 125 countries · Profit rose 15% in 2013 · In depth and user friendly company website · 8 drugs in phase III |
WEAKNESSES · Drug rules and stipulations are constantly changing causing management to keep changing · Battling lawsuits · Its hard to market medicine because it has to be prescribed to the patient by a doctor, its not over the counter · Decline in profit by 12% due to loss of patent on Cymbalta · 2014 only predicted to get worse because drug Evista patent expires · Profit decrease causing R&D cuts · High cost of R&D and long process |
OPPORTUNITIES · Global societies growing older so it leaves a larger market to purchase their products · People today rely heavily on medication to feel better · 34% of the United States managers are women, and 40% of their employees are women · Advanced technology now makes it easier for the company to research new products and put those products into their production timelier · Putting patents on products help take competition away from that product · They teamed up with Pfizer to develop Tanezumba and in exchange will split the profits |
THREATS · As the economy struggles, and unemployment rises people lose their insurance causing them to pay out of pocket for medicine which without insurance most can not afford medicine · Drug regulations and stipulations always changing · Some people prescribed to medicine may have a side effect to it · Involved in a lawsuit with Canada about the North American Free Trade agreement · People putting reviews online that have had bad experience with the drug · Considerable increase in generic brands of medicine
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