Global pharmaceutical companies Novartis

The development of a new drug is both a time-consuming and a cost-intensive process. It takes 12 to 15 years and costs up to 800 million to bring a new drug to the market. As measured by the market capitalization, the pharmaceutical companies play a pivotal role in the global economy. In February 2003 Pfizer was ranked at position five worldwide, with a market capitalization of 163 billion. Ranking third as far as the market capitalization in Europe is concerned was GlaxoSmithKline, with a current value of 101 billion. Novartis was number five in Europe with 82 billion. 

In India, many global pharmaceutical players (Pfizer, Novartis, AstraZeneca, Eli Lilly, GSK, Aventis, Novo Nordisk, Bristol-Myers Squibb, Roche and Amgen - to name but a few) have expanded their existing clinical research investment and infrastmcture Table VI). According to estimates from Chiltem International, in 2005, outsourced clinical trials generated an estimated 71 million in revenues for Indian companies in this sector, and were predicted to grow to 318 million by 2010. 

The UK should retain its position of strength within the global pharmaceutical industiy if it can continue to attract the major companies (2). A report commissioned by the ABPI showed that the UK s reputation amongst the major companies remained veiy positive. AstraZeneca, GlaxoSmithKline, and Pfizer accounted for more than 70% of total R D expenditure in the UK and other companies with a significant presence in the UK included Merck Sharp Dohme, Organon, Lilly, and Novartis (51). In fact, empIo3nnent in pharmaceutical R D has increased 50% since the early lS>90s (2, 47, 51). 

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