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Sales Forecasting in Pharmaceutical Industry – Challenges & Opportunities

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Sales Forecasting in Pharmaceutical Industry – Challenges & Opportunities

Author: Arupendra Das is a Lead Consultant at Integrated Capability Aider (ICA) & Krishnamurthy, CEO, VSM. Niels Bohr, the celebrated physicist & Nobel laureate said in one of his amusing remarks:  “It is very hard to predict, especially future.” In light of this comment, Sales forecasting (SF) – monthly/annual becomes a complex exercise where sales folks starting from a Medical Representative (MR) to a Sales Manager juggles with historical facts and figures to provide a credible future result (revenue). The sales…

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Growth in the Pharmaceuticals Market – A Market Research Report

in Pharmaceutical Articles

The global pharma market was worth $934.8 billion in 2017 and will reach $1170 billion in 2021, growing at 5.8%, a report from The Business Research Company shows. This is an accelerated pace compared to 5.2% for the years before 2017, but is slower than the other two large healthcare segments, medical equipment and healthcare services. Healthcare as a whole is growing at over 7% year on year. The factors that affect pharma market size include disease prevalence, drug affordability,…

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Editorial: FDA Approval of a New Cannabis-based Drug ‘Epidiolex’ Shocks the Pharmaceutical Market

in Editors' Picks/Pharmaceutical Articles
Epidiolex by GW Pharma

Epidiolex, the catchy name of a new drug to treat complex seizures, has generated a wave of controversy around the medical world. Federal advisers recommended the approval of the first prescription drug in which the main component is cannabidiol (CBD), a natural cannabis’ derivative with low addictive power. This drug would be approved just for the treatment of seizures caused by the Lennox-Gastaut and Dravet syndromes, Complex Tuberous Sclerosis and Infant Spasms. Epidiolex represents a new hope for people living…

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Validation, Qualification and Calibration: The 3 Most Crucial Processes of a Pharma Industry

in Pharmaceutical Articles

A lot of transformations in the pharmaceutical industry over a period of time have fueled an increase in the outsourcing of activities such as validation, qualification, calibration, auditing etc. Transformations such as the boost in R&D expenses, expiring patents of path-breaking medicines, resulting in the increase in the launch of related generics, etc. are compelling pharma companies to come up with creative business solutions for reducing their overhead costs. Also, numerous companies have emerged which specialize in lab calibration services,…

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How We Can Tackle the National Drug Epidemic

in Pharmaceutical Articles

In 2017, the President of the United States officially declared that the opioid crisis in America has become a national emergency. For many, this came as a welcome wake-up call for the States. Approximately 115 people in the country die every day after using drugs like heroin and prescription pain relievers, and the CDC has long stated that economic and medical burden of opioid use is worrying. Drug addiction has lingered on the edge of social consciousness for too long,…

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