Strategies in the pharmaceutical industry Literature review

Strategies in the pharmaceutical industry - Literature review Example2009, p.5). If the toxicity of the compound is prove to be high, then the development of the drug stops (Nishimura et al. 2009). The exclusion of a drug from the drug pipeline female genitals take place anytime up to the move part of the drug development process for example, even if a drug has been made available to the public the unattackable involved can decide to recall the drug from the market (Nishimura et al. 2009). A drug that is proved to have severe side effects that had not been identified in the pre-clinical or the clinical interrogatory is an example of the above case.Firms operating in the pharmaceutical industry could secure the success of their New Product Development process by employing the Critical succeeder Factors approach (Schuh et al. 2012, p.3). The specific approach promotes the idea that the chances for the success of a business strategy can be significantly increased if the strategy is designed ground on a series of factors (Schuh et al. 2012). These factors, as presented in Figure 1a, can affect the design of the business strategy at lower or at higher level depending on the industry involved and the conditions in the business environment (Schuh et al. 2012). In any case, the use of these factors could help a pharmaceutical firm to secure the competitiveness of its new products, as manageable (Schuh et al. 2012).On the other hand, Figueiredo and Loiola (2012) explain that a drug development process is characterized by the continuous mass meeting of ideas during the process many of these ideas are rejected while news can also appear. However, because the issues that need to be taken into consideration during the particular process can be many it should be wise for the managers working on such projects to screen each stage of the process as carefully as possible (Figueiredo and Loiola 2012, p.21). The economic aspects of drugs, as reflected in their Net