These companies hold licenses to perform research on different types of drugs, and are also responsible for preparing and marketing those drugs.
Licensure is mandatory and is controlled by the government of the companies' home country.
There are currently about 200 major pharmaceutical companies in the world; all are in competition with each other to make new and more marketable medicines.
This competition theoretically provides patients with new, more effective, and less costly medicines.
Some pharmaceutical companies produce bio-pharmaceutical drugs by working with living organisms and biological systems. This type of research is becoming more widespread.
Companies will often modify old products in order to increase sales and efficacy. Many pharmaceutical companies are also trying to understand traditional medicine and attempting to develop effective, modernized versions of these.
For the purpose of research and making new medicines, pharmaceutical companies invest heavily in laboratories. These laboratories provide scientists and chemists to look for the roots of and possible cures for diseases. They mainly conduct research on cellular structure and genetics.
Once potential drug formulas are discovered, a company tests those drugs on certain animals in their laboratories. Such clinical testing requires government approval. Once the permission is granted, the three-stage clinical test procedure starts. These tests are meant to find out the exact effects of the drug on human beings.
After obtaining satisfactory results, companies work through marketing representatives to promote their drugs. These representatives convince doctors to prescribe the product, meaning that doctors play a major role in the fate of the company.eful for the customers and turning out to be a winning strategy.