Novartis AG Emerged As One Of The Top Companies In Oncology Drug Industry For The Pharmaceutical Drugs Market (Companies Included: Novartis AG, Gilead Sciences, Inc., Bayer AG, Takeda Pharmaceuticals, Johnson & Johnson)

The pharmaceutical industry develops drugs to diagnose, cure, treat or prevent diseases. Pharmaceutical companies produce both generic and branded drugs. Pharmaceutical drugs are subjected to various laws and regulations...

The pharmaceutical industry develops drugs to diagnose, cure, treat or prevent diseases. Pharmaceutical companies produce both generic and branded drugs. Pharmaceutical drugs are subjected to various laws and regulations that deal with patenting, testing, safety, efficacy and marketing. Pharmaceutical drugs are intended for human or veterinary use presented in their finished dosage form.

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The global pharmaceutical drugs market grew at a compound annual growth rate (CAGR) of 5% in 2017. This can be attributed to factors such as aging population, economic growth of individuals and other reasons mentioned in the report. By 2021, this market is expected to grow at a CAGR of about 6%.

Novartis emerged among the top competitors for the oncology drug market in the pharma industry in 2017, with an estimated 11% share of the market. Novartis is a multinational pharmaceutical company that develops, manufacture and markets healthcare products. The company was founded in 1970 and is headquartered in Basel, Switzerland.

Novartis generated estimated revenues of $14 billion from the sale of oncology drugs during the financial year 2016. The revenues are TBRC estimates based on the various products/services offered by the company.

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The company’s business divisions are supported by Novartis Institutes of Biomedical Research, Novartis Business Services, Global Drug Development, and Novartis Technical Operations organizations.

Novartis’ growth strategy in the pharmaceutical market aims at introducing new products into the market by investing in research and development activities. In 2016, the company spent $9 billion for research and development of new products and therapies amounting to 18.6% of net sales. The company received five breakthrough therapy designations from the US Food and Drug Administration in inflammatory diseases and oncology, including the investigational cancer compound.

TBRC’s report gives the pharmaceutical industry overview, pharmaceutical statistics, pharmaceutical industry analysis, pharmaceutical market size, pharmaceutical industry data, and all the top competitors and their company profiles, along with future trends that will affect the market.

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