Pharmaceutical Research Strategies

Running head: PHARMACEUTICAL RESEARCH STRATEGIES 1
Pharmaceutical Research Strategies
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PHARMACEUTICAL RESEARCH STRATEGIES 2
Pharmaceutical Research Strategies
Pharmaceutical Research utilizes diversification as a growth strategy. The company
adopts a diverse business model that implements diversification in four ways, namely, investing
in a Research and Development broad range of resources, collaborating with competitors,
acquiring new markets, and diversification of commercial strategies through value and pricing.
The company realizes that re-powering pharmaceutical innovation is a vital requirement as the
need for more medicines persists. For example, the increasing convergence between medical
devises, medications, and diagnostics necessitates establishment of innovative combined
products that will enhance the treatment, diagnosis, as well as prevention of different diseases.
Pharmaceutical research is thus prioritizing and investing in research and development as a
means of honing core capabilities and innovative resources in order to gain competitive
differentiation, coupled with sustainable and profitable growth in the long run. What is more,
diversification of the company’s research portfolio is also been targeted where conventional
dependence on chemical-based drugs has been adjusted to accommodate biological products. As
the assessment revealed, the company leader is a visionary and inventive person who implements
ideas and makes them successful. In this scope, investing in research and development is a core
strategy to ensure success of the company. However, as Burns, Nicholson, & Wolkowaski
(2012) agree, research and development in the pharmaceutical industry is an intricate process
that may take long periods to yield results. As such, the company emphasizes on collaboration
between employees as the assessments suggest.
The company is also utilizing diversification through acquisition of new markets as a
corporate strategy of boosting revenue from existing drugs. As revealed in the assessment, the
focus is on understanding the bigger picture. In this approach, the company attempts to maintain