Pharmaceutical Industry

London boasts the largest and most profitable pharmaceutical industry in the whole of the United Kingdom, and this is where many of the major pharmaceutical companies are based. This industry provides tens of thousands of jobs to people who live in London or are willing to commute to the capital.

However, the major pharmaceutical companies are being forced to contend with the global recession like so many other industries. They also have to battle the increased pressure of increased competition and also the near expiry of patent laws on popular drugs, and also the lack of innovated new designs on popular drugs that have been available for some time, and are out of patent.

Pfizer and various similar companies are being forced to try and find new ways to set apart the products that they produce from the ones that their competitors produce, and this is good news for the smaller firms hoping to increase in their size and capacity to compete on a larger scale with the more established companies in the field.

The chief executive officer of Oxford Pharmascience, Nigel Theobald, believes that the direction of all of the major pharmaceutical companies is due to the new higher risk of introducing newly formulated medication into the pharmaceutical market, along with more direct competition from smaller companied eager to take advantage of their ability to produce generic medication that have now been available on the market and are no longer covered by patent laws.

Oxford Pharmascience believes the way forward for the company is to use all of its vast experience gained in the many years that they have been in the field to increase the performance of already existing medications, and are looking into ways of creating different ways in which the pre-existing medications can be delivered and administered.

Oxford Pharmascience are in the process of creating new products to compliment the medications that it produces, and sees this as way of furthering the company's growth in these newly competitive times in the pharmaceutical sector. They are hoping that their new types of medication will soon be available over the counter (OTC). They are also looking into designing a new liquid versions of various types of existing medications, to take advantage of the market of people like the older and younger generations who may suffer from dysphagia, which is a difficulty in the swallowing of medication in tablet form.

Previously, Oxford Pharmascience had focused its production in the calcium supplements area, in Nutraceuticals business. The company will continue to produce these supplements, as they do very well in the Middle East region, and are a good and stable market for them. But they have the ability to move the already developed technologies to the more expansive and lucrative field of pharmaceutical market, and will begin to compete on both fronts.

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