U.S. Pharmaceutical Industry
A Standard for Success
Although United States pharmaceutical companies experienced a sharp decline in their overall international market share during the latter half of the twentieth century, these companies were globally revered as paradigms for business excellence, esteem that was garnered due to their philosophical approach to managing risk, innovation, research and development, quality, and dynamics. This article examines the techniques that one, U.S.-based Stuart Pharmaceuticals, uses to manage its project resources and risks when developing new products. In doing so, it describes the business success of the top U.S. pharmaceutical companies and explains the difficult process of developing new projects in this highly competitive and regulated industry. It then analyzes the management styles used in U.S. industries and describes the project activities practiced within pharmaceutical companies.