Lipitor: The Case of a Blockbuster Drug
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Code : BSM0002
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Region : USA
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Introduction:The Pharmaceutical industry of the early 20th century was predominantly a manufacturing industry. It was manufacturing prowess rather than research and innovation that characterized the industry. At the beginning of the 20th century, the major chunk of the global pharmaceutical industry was concentrated in the U.S. In the U.S alone about 3,512 firms failed at the height of the 'Great Depression' in the 1930s and by 1939 the total sales volume of all 1,100 pharmaceutical companies was $150 million at the manufacturing level. The world wars brought disease and famine, stimulating a phenomenal growth of research and discovery. To combat disease companies began to work closely with the government to support the war effort.An outcome of research during this period was the discovery and development of the first antibiotic drug ‘penicillin’. To supply penicillin to its soldiers, the U.S ‘War Production Board’ signed contracts with six companies in 1944 for large-scale production. In June 1945 alone, the production was 646 billion units. |
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