Several factors were attributed to business booming between North Carolina’s Southeast, an economic development partnership, and international firms from nations such as Australia, China, and South Africa. Among the factors were its waterways, such as Wilmington’s seaport; advantageous infrastructure, such as highway connectivity; military members that are also viewed as lucrative potential employees; comparatively lower costs, such as corporate tax rate.
Prabhavathi Fernandes spent over three decades developing drugs for bacterial infections. On the brink of developing a treatment for pnemonia, Fernandes' Chapel Hill-based Cempra, Inc. was halted by federal regulators. Although Fernandes abruptly left the company, Cempra seeks to rebound.
East Carolina University’s Pharmaceutical Service Center, also called PSC@ECU, promised a positive economic and occupational impact on the local community and state. Among the project’s goals to ensure this positive impact: educating students and workers for the highly regulated pharmaceutical development and manufacturing environments; enabling workers to be immediately productive in complex jobs requiring multi-disciplinary skills.
Medical advancements possible over the next decade included cryopreservation, controlling prosthetic limbs with the mind, and nanotechnology. Areas projected for improvement or further development over the next ten years included gene therapy, noninvasive technology, and cure of Dementia diseases. As for an area the author acknowledges is not clear, it involves medical ethics: when to cease providing procedures, especially where age is concerned.
Community colleges, traditionally considered a second rate form of higher education, is increasingly making a first grade contribution to the state’s economy and work force. North Carolina’s fifty-eight community colleges are proving themselves an asset for fields such as biotechnology, welding, law enforcement, aviation, and manufacturing.
Along with education, ECU is making a difference in fields such as medicine, life sciences, engineering, technology, and business. Graduates are a particular boon to rural communities, most vulnerable to the economic and occupational challenges the region has known the past few decades. Another industry noted as a potential booster to a region without textiles and tobacco as occupational powerhouses is ecotourism.
The Supreme Court ruled in FTC vs. Actavis, that courts are required to apply a rule of reason analysis in determining whether a reverse payment settlement violates antitrust laws. The reverse payment settlement, which is unique to pharmaceutical litigation, enables a patent-holder to maintain exclusivity in the relevant market and keep prices higher than they would or should be.
GlaxoSmithKline (GSK) is the world's eighth-largest pharmaceutical company and its U.S. headquarters are in Research Triangle Park. Despite high productivity, the company's profits have plummeted. This article surveys the profit plunge and layoffs while also discussing the future of the company and North Carolina's pharmaceutical industry as a whole.
The Research Triangle in North Carolina is composed of 13 counties and is the number one region in country for high-tech and biotechnology area in the country. More than 500 life-science companies from large pharmaceutical giants to small biotech startups make the Research Triangle their home.
The Merck and Co. deal, in which the company would build a vaccine plant in Durham, raises questions about where the state is going with economic incentives.
Factors that include good location, quality of schools, and recruiting have combined to make the state first in the nation from 1989 to 1995 in the numbers of new and expanded pharmaceutical facilities and first in Southern biotechnology firm locations.
Calling on small-town doctors as a sales representative was the start of Robert Ingram's career in the pharmaceutical industry. Today he is president and CEO of Glaxo Wellcome's U.S. operations.
By 1995, health maintenance organizations (HMOs) are projected to account for 75% of the health care market. In response to this trend, pharmaceutical firms are adjusting their business and marketing practices.
Chapel Hill resident David Jones recently testified before the U.S. Congress on the unethical practices in the pharmaceutical industry. Jones recounts stories from his career in the industry on how pharmaceutical companies boost profits through false demand and manipulate the market. These practices harm the consumer. Frustrated, Jones is now a lobbyist and has worked in NC politics on behalf of the consumer helping specifically with anti-discrimination legislation and privacy regulations for AIDS victims.