SG7001 Managing Strategy Operations and Partnerships
4a.
| Stage in the industry life cycle | Maturity stage |
| Implications | The pharmaceutical industry falls in the maturity stage of the industry life cycle as it focuses on developing market share, cash flow and profitability (He, et al., 2019). Pharmaceutical industry falling in the maturity stage aim toward developing the R&D process so that better drugs and therapeutic medicines can be developed that are being offered to the customers to gain their attention towards the organisation (Michael, 2022). Pharmaceutical industry falling in the maturity stage aim toward reducing the costs to achieve economy of scale. Development in the production for the pharmaceutical industry led to more efficient ways to manufacture high volumes of particular products (Stark, 2020). The pharmaceutical industry in the maturity stage also helps them in increasing market share through differentiation. |
4b. Development of survival and success factors
| Issues | Survival factor | Success factor |
| Distribution of falsified and counterfeit medicines | The pharmaceutical industry operating in Morocco needs to comply with BMI standards or European quality standards that will help them in eliminating the risk of counterfeit medicines (Schwartzman, et al., 2022). Complying with the regulations will help in checking on medicines’ safety and quality that benefit the pharmaceutical industry in offering high-quality medicines to the people. | The pharmaceutical industry operating in Morocco can also comply with the Moroccan National Laboratory for the control of Medicine which is responsible for conducting a check on medicines’ safety and quality (Lebed & Nemchenko, 2021). |
| High cost of patent license fees, lack of manufacturing sovereignty | Issues of the high cost of patent license fees and lack of manufacturing sovereignty can be eliminated by maintaining intellectual property protections and industry support (Wrightl & Doukas, 2021). This will help the pharmaceutical industry in manufacturing medicines. | Eliminating the high cost of patent license fees and lack of manufacturing sovereignty for the pharmaceutical industry help in innovating the market faster as a result of which turns out to be beneficial for the organisation (Sarmah, et al., 2020). Eliminating the cost of patent license fees also enables generating revenue for the pharmaceutical industry. |
References
He, B., Luo, T. & Huang, S., 2019. Product sustainability assessment for the product life cycle. Journal of cleaner production, 206(1), pp. 238-250.
Lebed, S. & Nemchenko, A., 2021. ScienceRise: Pharmaceutical Science. Problems of false medicines’ distribution and prospects of combat: a survey of specialists and consumers results, 5(33), p. 49–56.
Michael, G., 2022. Product lifecycle management. London: Sage.
Sarmah, A., De Giovanni, D. & De Giovanni, P., 2020. Compulsory licenses in the pharmaceutical industry: Pricing and R&D strategies. European Journal of Operational Research, 282(3), pp. 1053-1069.
Schwartzman, G. et al., 2022. Dermatologic clinics. Dermatologic Consequences of Substandard, Spurious, Falsely Labeled, Falsified, and Counterfeit Medication, 40(2), pp. 227-236.
Stark, J., 2020. Product lifecycle management (PLM). In Product lifecycle management. In: London: Springer, Cham, pp. 1-33.
Wright, J. & Doukas, D., 2021. Health Economics, Policy and Law. Challenges to sovereign ambitions: forces of convergence and divergence within the global pharmaceutical sector, 16(1), pp. 256-272.
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