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.
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.
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.
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.
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 North Carolina pharmaceutical industry is rapidly expanding its research and production facilities. This article presents the top pharmaceutical companies in North Carolina and how they are helping expand the business in the state.
Burroughs Wellcome Company discovered that the drug AZT can prolong the lives of many people with AIDS, but at an annual cost of about ten-thousand dollars per patient. North Carolina has a share of the federal safety-net program to help AIDS patients who can’t afford AZT. Others who are without federal aid are organizing boycotts against Burroughs and considering lawsuits.
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.
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.
Despite pinching of a contracting economy, North Carolina's health product industry is growing and expanding. The value of products and the amount of them being produced in and shipped from North Carolina has rapidly grown in the last decade, sometimes quadrupling the numbers seen in 1980.
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 author highlights some recent NC business news, including an acquisition of a pharmaceutical company by R.J. Reynolds Tobacco Company. In other news, the Mylecraft Manufacturing Company owned by Mrs. L. V. Myles was willed to the town of Rich Square upon her death.
Burroughs Wellcome Foundation, Ltd., is a biomedical research foundation based in Research Triangle Park, North Carolina. The foundation has a partnership with the Duke University Medical Center and Hospital, fostering collaboration between the pharmaceutical industry and medical research.
Health products manufacturing has become an important asset to North Carolina’s economy. A study commissioned by the North Carolina Health Products Manufacturers Association surveyed fourteen manufacturing firms which produce pharmaceuticals or medical devices. These firms are attractive because they offer high wages, increasing employment opportunities and largely pollution-free production processes.