Country Analysis Report
In the fiscal period from year 2000 to 2004, Allergan Inc. has seen a continuous rise in sales and profits. In the year ended 2004, net income reached a high of $377 million and there is certainly no reason to believe that number won't continue to grow . Although most of our company's sales comes from our line of eye care pharmaceuticals, It is the BOTOX/neuromodulators line that sees the most promise in growth.
With 80% of our BOTOX products being used for cosmetic purposes, a great market potential is seen in South Korea where the demand for skincare and cosmetic products is soaring. With sales capabilities in over 100 countries, direct sales offices have only been established in a little over 20
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For Allergan, the current legal environment in Korea is favorable for marketing many of its products. With pricing regulations, Allergan won't have to worry about tough price competition from domestic companies. Although intellectual property laws are more complex in Korea, there is little worry for the BOTOX line which currently doesn't even have a patent in the U.S. The process of making BOTOX is complicated and only known to Allergan. Even without a patent, there is little chance of other companies cultivating their own process of making similar products.
Infrastructure Analysis
Human Resources: Tough Labor Laws Handling distribution of Allergan products in South Korea will be crucial in a successful operation, requiring a significant amount of labor. While Korea's workforce is well-educated and hardworking, foreign investment into the country is impeded by some of the most stringent labor laws in the world. According to a Swiss-based international institute that ranked 60 countries based on labor flexibility, South Korea ranked 44th. Many foreign investors have also cited very volatile relations between the labor force and management2. Much of South Korea's labor laws were developed at a time when the government could not afford to provide security for the labor force, and
Thesis - Not enough is known about "the long term use and the long term side effects of the toxin, despite the fact that Botox has been approved by The Food and Drug Administration and is being used for a variety of medical conditions."
The pharmaceutical industry continues to be a major driver of trend. While demand for medicine rapidly increases in emerging economies, a growing number of consumers are also analyzing the economic performance of different medicines. These events will heighten the challenges the
Expanding into Asia (including India) so as to implement lower cost clinical testing and share opinions with leaders in the medical industry appeared to be a viable option. Drug prices however were substantially lower in India, profits were capped at 6% and post manufacturing costs were limited at 100%.
Rough Draft & Thesis Statement Minorities are faced with housing discrimination on levels much higher than that of white people which is considered white privilege. Residential segregation has been strategically planned and carried out by multiple parties throughout history and persists today ultimately inhibiting minorities from making any of the social or economic advances that come from living in affluent neighborhoods and communities. From our research, the scholarly sources have depicted multiple causes of racial disparity. Housing segregation perpetuates negative circumstances for people of color, as looked at through history, laws, segregation, real estate, and ... The end of the Civil War and the start of the Industrial Revolution and
As the pharmaceutical giants from US, Germany and Japan take advantage of the knowledge clusters in China, India and Singapore, the domestic firms in these emerging economies also catch up through the knowledge spillovers and human resource poaching.
In 2000, botox injection treatments were also approved for treating cervical dystonia, a neurological movement disorder associated with sever neck and shoulder contractions. Finally in April 2002, The FDA granted approval to BOTOX® COSMETIC, the brand used by Allergan Inc. for the temporary improvement in the appearance of moderate to severe glabellar or frown lines in adult men and women ages 18 and up to 65. The approval specifically applies to the vertical lines between the eyebrows. Now Allergan is the one of the main producer and distributor of botox for aesthetic uses world wide.[7]
In John Cho’s article “Global Fatigue- Transnational Markets, Linguistic Capital, and Korean-American Male English Teachers in South Korea,” the author analyzed Korean American male migrants’ psychological transition activities when they had returned to South Korea and taught English there as English teachers. Cho argues that Korean American male English teachers have been struggling in “contradictory feelings of privilege and anxiety in South Korea” and he also deems these feelings originate from their linguistic capital of English. (Cho, 219) According to Cho’s words, he explains this proud feeling is original generated from Korean-American males’ linguistic privilege of proficiency in both English and Korean languages while the feeling
Hello Everyone. When you hear the word Botox, what is the first thing that comes to your mind? Is it celebrities, people who want to look younger or maybe you just don’t care. Personally for me, when I heard the word Botox before I did my research for this informative speech, I thought of Kim Kardashian or Joan Rivers. But, Botox is more than just social media hype. Botox is a neurotoxin protein called botulinum toxin, that can be used medically to treat certain types of muscular conditions, and cosmetically to remove wrinkles temporarily by paralyzing facial muscles. You may think that Botox used for cosmetic purposes is just for females trying to look younger, but studies have shown that the number of American men
Economic: Globalization of the pharmaceutical industry is an exciting opportunity to have research and development done at cheaper prices in other countries. However, this could be a double edged sword for companies because it is easy for other countries, such as India, to produce generic versions of the drug in bulk.
Japanese industry and infrastructure, which were virtually destroyed during World War II, were systematically rebuilt to transform the country into a global economic leader by the mid-1960s. Post-World War II, the seven-year U.S. occupation of Japan proved to be a blessing in disguise as the Japanese received $2 billion in aid from the U.S. in the form of food, fertilizers, petroleum products and industrial materials.
1. Pricing: Many Asian and African countries are poor and cannot afford the costly medicines. The Pharmaceutical firms spend vast amounts on R&D in creating and marketing drugs, thus charging high prices enables for cost of capital recovery and profit generation.
South Korea loves sport, sport is not only a popular physical activity but is a significant social practice. Sport operates as an important cultural resource and produces and disseminates nationalism. Indeed, in recent years, south korea has shown competence in hosting, playing, and managing sport. South Korean athletes have created notable results at major international sport events. For example, since 1984, the national Summer Olympic team has unfailingly been ranked in the top 10 nations on the medal table, with the only exception being the 2000 Sydney Olympic Games. The country has also produced a number of major world sporting events, including hosting
North Korea (officially named the Democratic People's Republic of Korea, or DPRK) is a single-party Communist state in south-east Asia, ruled since 1949 by the Korean Workers' Party (KWP). Regarded by many in the international community as a pariah state (meaning that it is an outcast), North Korea has in recent years become increasingly poverty-stricken, with many of its citizens having barely enough food to survive.
Moreover, one may be able to find more potential business partners in exporting to other countries. One may find a business partner that is willing to cater to and audience of Pfizer’s pharmaceutical products from another country.
Thesis Statement: Though South Korea may be a small country, the style of cuisine, community culture, and generosity are just a few uniquenesses that outshine its stature.