The modern era of pharmaceutical industry

The pharmaceutical industry is a large and complicated industry in the modern era. It has transformed completely in the 20^th century as there is no way to halt the diseases which are increasing day by day in every corner of the world. There is no country from where the signs of diseases have been eradicated. Hence, the formation and growth of the pharmaceutical industry and companies comes lively in order to take care of this matter. As the world of science and technology has been advancing every now and then, scientists are trying their best to get the cure in long term for every disease. Guardian reported that “There were times not long ago that drug companies were merely the size of nations. Now, after a frenzied two-year period of pharmaceutical mega-mergers, they are behemoths, which outweigh entire continents.”Most of the pharmaceutical companies are based in Europe, Japan, and South America which include ARENA pharmaceuticals, Pfizer, and Roche etc. In today’s world, the pharmaceutical industry is very profitable hence countries are looking forward to invest more and more in the development of their infrastructures in order to expand and compete with others. In earlier times companies lacked development in the pharmaceutical industry which did not result in favor of the companies. The market of the pharmaceutical industry is very strong and firm as they cannot stop manufacturing their products. However, in recent times, ARENA pharmaceuticals have faced a major downfall. Regardless of being named as one of the top manufacturing pharmaceutical companies, it has failed to cope up with the market. The company used to dictate drug prices. Therefore, the prices of pharmaceuticals have increased at a higher rate than inflation. This tells that new companies are being made or the existing companies are developing in order to meet the market targets.Hence in a nutshell, despite of such an extensive and diversified industry, it still needs a lot of improvement in order to cater the needs of every human being. ARENA pharmaceuticals and other companies are looking forward to develop within them in order to meet the standards as well as compete in the global market.