E-Commerce Application In the Pharmaceutical Industry

The Internet and electronic commerce have enhanced access to goods and information, as well as competition, by enabling goods and services to be market worldwide. It is understandable that such revolutionary applications should considered for the marketing of pharmaceutical as well. More often R&D intensive industries like the pharmaceutical industry implements innovative technologies to gain competitive advantage in the market. E-commerce provides the pharmaceutical industry with better mode of transaction to achieve competitive advantage and sustained growth. E-commerce has a considerable impact on the business – to – business (B2B) application, when a diverse group of enterprises become involved in the decision making process particularly in the pharmaceutical industry. This enhances the value of the industry through key underlying processes such as, high value drug innovation, clinical development and trial, project and people management , marketing and sales. This synchronization of E-commerce and corporate strategy creates significant value for this industry . the achievement of real value through E-commerce has three major impacts, First, it enhances the value of the latest clinical developments; second, it increases shareholder’s value and third , It successfully reduces the time-cycle of research and application . these achievements add substantial value to the industry . therefore, this article reviews the application of E-commerce and discusses its significance in the pharmaceutical industry. The theoretical discussion used in previous studies is also presented and six major aspects are highlighted explaining the success of E-commerce in the pharmaceutical industry.

Keywords:

E-commerce , Development Pharmaceutica Industry , Value creation for Pharmaceutical Industry