Strategies in the Pharmaceutical and Medical Device Industry (Philanthropy and/or Venture Capitalism)

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Authors
Potter, Brittany L.
Mott, Lindsay N.
Issue Date
2014-04-26
Type
oral
Language
en_US
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Abstract
Med-tech and pharmaceutical companies have had to implement smart business strategies to respond to changes in the FDA approval processes, introduction of government regulated medical insurance, and new tax and environmental policies. Insurance companies' reimbursement policies are also forcing these companies to reduce pricing. To compensate for these costs, medical device and pharmaceutical companies develop products in the bottom of the pyramid markets that can help world health initiatives, get funding from philanthropic organizations, and be re-marketed in the U.S. with relatively little developmental costs. These companies are also "actively seeking alternative capital sources including government, non-profit foundations, and commercial partners in both developed and emerging countries. ” (Chen, B. p., and Nicholas, C. 2012). This research project reviews these strategies and focuses on pharmaceutical and medical device companies' trending towards philanthropic over normal investors. Key Words: Philanthropy Medical Device Pharmaceutical Alternatives Funding FDA Taxation Reimbursement
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