This Is a Essay Based On The Teva Pharmaceuticals Case Study:
Teva Pharmaceutical Industries is the largest manufacturer of generic pharmaceuticals. The company thrives and grows in the competitive market of generic drugs. It has one main competitive advantage that makes it able to compete and win: its operational expertise enables it to produce generic pharmaceuticals faster and in bigger quantities than the competition.
Teva Pharmaceuticals has many resources that help them grow and thrive. These include research facilities, production equipment, a huge workforce, a number of plants across the world, and entrepreneurial leaders. These resources are a necessary element in the growth that Teva has experienced in recent years. The most valuable resources for Teva are production equipment, workforce, research facilities, and its entrepreneurial leaders. These factors are very dynamic, and Teva has managed to optimize on managing them well to their advantage. For example, they have acquired some pharmaceutical companies thanks to their entrepreneurial leaders (Khanna, Palepu & Bullock, 2013). Research has also enabled them stay in the market by rolling out new products. Teva has a workforce that loves what they do and are important to the industry. They enable Teva to research, produce, and distribute its genetic drugs worldwide.
Teva has the potential to make it big in innovative pharmaceuticals and biosimilars. The vast research and development facilities and capital owned by the industry have made this possible. They also work with some of the best researchers in the generic pharmaceutical industry (Teva Pharmaceuticals, 2013). Biosimilars market has not been fully captured, and Teva can be able to secure a leading position given their resources. In innovative pharmaceuticals, Teva has a lot of potential. By conducting vast research and development, they can be able to innovate or even come up with new drugs.
Teva has experienced tremendous growth in the recent past. This is great news but it has a hard task at maintaining that growth and moving forward. To continue being competitive and relevant in the market, Teva should diversify and start exploring pharmaceuticals that do not have generics yet. These drugs include biologics that treat diseases like cancer. These drugs are difficult to produce, but Teva has the capital and resources achieve this. Taking this step will guarantee them a bright future in the pharmaceutical industry.
Khanna, T., Palepu, K. G., & Bullock, R. J. (2013). Winning in emerging markets: A road map for strategy and execution. Boston, Mass: Harvard Business Press.
Teva Pharmaceuticals: Focusing on Generic, Specialty, and OTC Medicines. (January 01, 2013). Pharmacy Times, 79, 7.