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Pfizer: Mergers Essay

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Below is an essay on "Pfizer: Mergers" from Anti Essays, your source for research papers, essays, and term paper examples.

The pharmaceutical industry is one of the most innovative industries in the world. The pharmaceutical industry focuses on creating treatments and drugs that are made to benefit our mental and physical health for us and animals alike. Throughout history we had Penicillin and other drugs shaped the way that we live and by obtaining patents for the drugs it makes it so that the intellectual property will not be copied. Pfizer focuses its efforts to be able to control the industry itself by purchasing the patents themselves by merging with other companies to fight competition. When more companies are merged with Pfizer it reduces the R&D department in the industry. Pfizer by merging with companies like Pharmacia and Wyeth to stay afloat with already existing patents harms the pharmaceutical industry long term by limiting the development for new drugs and services.
Pharmaceutical corporations are corporations that invent pharmaceuticals and then is protected as intellectual property then sold. If pharmaceutical corporations create a unique drug that isn’t similar to other drugs then they can file for a patent for the drug. This patent will make it so that other pharmaceutical corporations will not be able to sell a similar drug until the patent has expired and that they can be able to make one. In order to be able to compete with other pharmaceutical companies they buy out other firms and make them part of a merger and therefore will own their intellectual properties and patents. Patents and mergers make the pharmaceutical industry an oligopoly because of the high border to enter the market without making an original drug without a really good R&D team and not risk being bought out by a bigger firm like Pfizer. Innovation has declined in the industry for only bigger firms because smaller firms will be merged and take advantage of what they make.
With the rising costs of Research and Development to be innovative it’s a lot easier for other corporations to be...

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