About Pharmaceuticals and Biotech Field:
Pharmaceuticals are medicines created from tiny, synthetically produced molecules. These medicines are marketed and sold by drug manufacturers. In U.S., there are a number of pharmaceuticals companies including GlaxoSmithKline, Pfizer and Merck. These pharmaceuticals companies are known as Big Pharma, as these are enormous research, development as well as manufacturing firms with their units all over the world. Big Pharma generates the most sales in the industry.
Pharmaceutical business is among the top businesses in U.S., which provides various pharmaceuticals and biotech careers opportunities. The Pharmaceutical business, one of the most rewarding business was ranked third in 2003, fifth in 2005 and second in 2006.
Most of the large pharmaceutical firms started around the late 19th century or early 20th century. When these firms had commenced, there were not drug manufacturers. In 1863, Bayer was founded by Frederich Bayer to produce synthetic dyes. Around the 1920s, scientists had discovered sensational drugs like insulin and penicillin. With this invention, pharmaceutical firms started to manufacture and market life-saving drugs. During the 1950s and 60s, firms began to manufacture and market new drugs on a large sale. These drugs included blood-pressure drugs, birth control tablets and Valium.
In 1970, pharmaceutical firms invented and developed cancer treatments. This treatment comprised of chemotherapy. Genentech, invented by Robert Swanson and Herbert Boyer gave birth to modern biotech business. Pharmaceuticals companies had to adhere to new environmental as well as safety rules and regulations around the 1980s. They also had to face enormous pressure from economic bodies. In 1990, Big Pharma had to go through a turbulent time. During this period, there were various mergers and acquisitions that took place in the pharmaceutical industry. Also pharmaceutical companies started to outsource Research & Development work to research organizations.
Pharmaceuticals firms and biotech firms are integrating slowly but surely. Most of the big pharma companies are collaborating with the biotech industry through mergers and acquisitions. This tendency of acquiring companies will continue in the next decade or so, as it becomes difficult to invent new drugs without contemporary science. Thus, innovation or research is the biggest challenge of the pharmaceutical industry. To cope with this challenge, industries are taking help through acquisitions and alliances. Nowadays leading manufacturers are involved in research, manufacturing and selling of both synthetic small molecules drugs as well as injectable large molecules drugs.
As per the Pharmaceutical Research and Manufacturers of America (PhRMA), there are around 100 pharmaceutical manufacturing companies. The big ten companies are referred to as Big Pharma. Also, there are more than 1400 biotech companies in U.S. The Pharmaceutical and Biotech companies in U.S. is a very big industry which provides various pharmaceuticals and biotech careers.
Please refer to the following articles regarding the Pharmaceuticals and Biotech Career: