MAJOR STAKEHOLDERS

IN PHARMACEUTICAL
INDUSTRY
SUBMITTED TO:
Dr Abhishek Dadhich
SUBMITTED BY:
Priya Rathore
COURSE: Pharm MBA, 1st sem.
What is a Stakeholder?
A stakeholder in a pharmaceutical organization is an individual or a group of
people with one common goal and interest towards the ownership and activities
of the organization.

Without their support the organization would cease to exist.

In a general organizational setup, stakeholders can be divided into two

categories:--
a. The primary stakeholder
b. The secondary stakeholder
The primary stakeholders have the utmost responsibility in a company.

The primary stakeholders form the basic fundamental foundation towards a

company’s success or failure because of their participation in the direct
economical situation. 

They include:--
a. The company suppliers
b. The Consumers
c. The Employees
d. The medical research team
The secondary stakeholders do not have an integral part in the economic
process but they are as useful as the primary stakeholders are.

These include:--
a. The government
b. Trade unions
c. The media
d. Political Parties
Stakeholders in a pharmaceutical company are divided into stages.
1. Corporate management
The first stage of stakeholders includes the key management of the company
like:--
The corporate executives, marketing, and the leaders who offer their opinion
regarding the pharmaceutical industry like the consultants.

Key Role:-
a. Establish a growth strategy
b. Manage potential harm
c. enhance transparency
d. Maintain code of ethics among the various departments
e. Maintain and adapt to the corporate social responsibility
2. Regulatory Institutions

The second stage of pharmaceutical stakeholders includes the regulatory

institutions.

Regulatory institutions ensures that the drugs manufactured are of the right
quality, and manufactured as per the stipulated mandate and drug
manufacturing requirements.

When a drug has been developed and it meets the requirements, it obtains
permit for consumption by the society by the relevant drug regulatory body.
Key Role:-

a. It helps prevent the sale of low quality drugs.

b. Responsible in promotion of manufactured drugs to the market thus
they help influence the company’s investments and expertise
c. Act as consultants regarding drug related issues.
3. Marketing
The third stage of pharmaceutical stakeholder involves the marketing team in the
company.

Marketing pharmaceutical drugs require strategic marketing, good advertising

skills and sufficient consumer research.

This method also helps in dealing with companies that produce similar drugs
known as “Me-Too” drugs.
Key role:--
a. Good marketing strategy will ensure drugs are sold at a fairly reasonable price.
b. Curb competition from other companies
4. End User
The end user is the fourth stage of pharmaceutical stakeholder ship. 
Includes:--
a. General public
b. Patients
c. Health providers
d. Health related institutions
e. The government

The doctors and hospitals as the health providers ensure that approved drugs
manufactured and sold by the pharmaceutical companies are put to the right use.
e.g. Certain drugs like morphine are addictive and if misused, they could turn to
be dangerous and lethal.
The government has a major role to play in the pharmaceutical industry.

Role:--
a. Funding of research and development of medical related devices

b. Help creating incentives for smaller pharmaceutical companies thus assisting them with
an independent research on new patent drugs. 

c. Approval of safe drugs that are effective through the Food and Drug Administration (FDA)

d. Rules regarding the manufacture of drugs and fraud related cases by pharmaceutical
companies.
5. Research and Development
Another important stakeholder in this stage is the team that takes part in
research and development of a pharmaceutical drug.

The biopharmaceutical research and industry paves way to discovering new and
efficient drugs.

Due to modernized biological technology, research has focused on

understanding the different diseases and how they affect the human immune
system.

Through research, development of new drugs has become possible.

As stakeholders in the pharmaceutical industry, scientists carry out
biopharmaceutical research with the help of doctors, chemists and regulatory
experts work together to facilitate their key role mentioned as below.

Key role:--
a. Development of a drug
b. Ensure drug has been approved for consumption 
THANK YOU