Wednesday, April 25, 2018 5:07

Pharmaceutical Industry Still Stronger in Recession

Posted by on Thursday, July 30, 2009, 22:39
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pharmaceutical-industryAs per the latest survey done by the International Business Council, it has been noted that pharmaceutical industry is still stronger in recession. All the factors including the share value of the company, financial gains this year, total profits, recruitment, and many more things are being considered in this survey. All the different industry sectors were considered while conducting the survey. Final conclusion was declared that pharmaceutical industry is only sector that is making the substantial profits in spite of the recession. It has been noted during the survey that the profits of pharmaceutical industry are increasing every year much more than any other sector. The main reason that was identified behind this was that the demand of the medicines is increasing every year.

The economy of the pharmaceutical industry is considered to be the strongest in the world as every year many new companies are investing in it along with the old pharmacy giants. Pharmaceutical industry is considered to be the very profitable industry through all the market experts as the money invested is always doubled. That is the reason why large numbers of investors are putting their money in the pharmaceutical sector. Whether branded drugs or generic version, both the types of medicines are in great demand worldwide. You will be surprised to know but “weight loss drugs” is the maximum searched term in the Google search. This shows how much important medicines are for the people.

The IT sector has been hit hard by the recession, but IT sector that was linked with the pharmaceutical industry projects is still able to survive in these financial crises. The recruitments in the Pharmaceutical industry are still going on. Today, it is the only sector that is providing the maximum salaries to its employees. Even this year the bonuses are being given to the employees by some pharmaceutical giants. This shows that how strong the pharmaceutical industry is progressing. Many new drugs are being launched that have maximized the profits of the companies. Some people even call the pharmaceutical sector as “Recession Proof Business.

Medicines are the basic requirement of an individual after food, clothing, and shelter. So, if a person is ill he needs the medicines. This is what making the pharmaceutical industry to stand strong even in this recession times. Many from the IT and aviation sector are removing the employees or cutting back their salaries, but pharmaceutical sector is still stable and there is no news about removal of the employees from any pharmaceutical industry. In fact many new industries are being started and lot of employment opportunities are being made available to the fresher as well as experienced candidates. You can call the career in the pharmaceutical industry as evergreen.

Generic drugs have played  a very important role in making the position of the pharmaceutical industry stable in this tough time of recession. The option of the generic drugs is favorite among the customers as they provide the same effect like the branded drugs and are equally effective like the branded drugs. Generic drug industry is having a share of about 45% in the pharmaceutical industry, which is found to be the most profit earning industry last year. So, these all factors together have contributed to make the pharmaceutical industry stand strong even in the tough time of recession.