Competitiveness of the Finnish pharmaceutical industry
Jäntti, Jani (2019)
Lataukset:
Jäntti, Jani
2019
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2019121126105
https://urn.fi/URN:NBN:fi:amk-2019121126105
Tiivistelmä
The pharmaceutical business can be considered a highly profitable business which generates the highest added value to the persons employed. The industry also employs four times more workers indirectly than directly. Having an increasingly competitive pharmaceutical industry would be beneficial to a nation. The main objective of this study was to determine the current state of the competitiveness of the Finnish pharmaceutical industry. Similar research was conducted in 1994. Another objective was to compare the results to the 1994 study and see what had changed in 25 years.
The competitiveness of the Finnish pharmaceutical industry was studied through Michael Porter’s diamond model. The same model was also used in 1994. Another task was to determine the strengths, weaknesses, opportunities and threats of the Finnish pharmaceutical industry. The SWOT- analysis method was utilized for that purpose.
The study itself had a qualitative research approach. The data was collected from multiple sources. Secondary data was collected from books, internet articles, internet publications and governmental websites. Primary data was collected by using interviews. The interviewees were experts that worked in important roles in the industry.
In the year 1994, Finland had two major pharmaceutical companies. In 2019, there is only one left although the conditions for the industry to operate were good in 1994, and although they are still good in 2019. The infrastructure supports the industry, and the people working in it are well educated. However, the funding of startups could be improved.
Developing pharmaceuticals is very expensive, and further research is recommended on how governmental resources to support the industry could be increased.
The competitiveness of the Finnish pharmaceutical industry was studied through Michael Porter’s diamond model. The same model was also used in 1994. Another task was to determine the strengths, weaknesses, opportunities and threats of the Finnish pharmaceutical industry. The SWOT- analysis method was utilized for that purpose.
The study itself had a qualitative research approach. The data was collected from multiple sources. Secondary data was collected from books, internet articles, internet publications and governmental websites. Primary data was collected by using interviews. The interviewees were experts that worked in important roles in the industry.
In the year 1994, Finland had two major pharmaceutical companies. In 2019, there is only one left although the conditions for the industry to operate were good in 1994, and although they are still good in 2019. The infrastructure supports the industry, and the people working in it are well educated. However, the funding of startups could be improved.
Developing pharmaceuticals is very expensive, and further research is recommended on how governmental resources to support the industry could be increased.