Pharmaceuticals in Europe, comparison to the rest of the world.

A Comparative Study of the European Pharmaceutical Industry

Having healthy citizens is vital to the development of a country Introducing effective and new methods of using drugs is the key to the improvement of an individual 's quality of life , which could minimize the amount of confinement and medical intervention (House of Commons 2005 3

In the economy of Great Britain , the pharmaceutical industry is the third most viable income generator next to tourism and finance . Although the United States is still the leader as far as the pharmaceuticals industry is

concerned , the United Kingdom remains as the vanguard of the industry in Europe . It constitutes 10 of pharmaceutical research development costs in the world . According to estimates , the United Kingdom funds 65 of all health-related research development (House of Commons 2005 : 3

The State of European Pharmaceutical Industry

Since the 19th century , the pharmaceuticals industry has been the vanguard of the European industry , providing the biggest contribution to the European trade balance in the field of high technology and research development . However , when compared to the United States , the pharmaceutical industry would find itself in the losing end (Gambardella . Orsenigo and Pammolli 2000 : 1

During the last twenty years , the industry has been marked with vital changes in its structure as a result of technological and institutional shocks that had a great impact on its value chain . Consequently , this paved the way for changes in the firms ' composition as well as in the structure of the market in both...