Lorex Pharmaceuticals Essay Example | Topics and Well Written Essays - 1250 words

Lorex Pharmaceuticals - Essay ExampleThis essay discusses that Lorex Pharmaceuticals has unquestionable and holds all patent rights to Linatol, a new full(prenominal) blood bosom medicine. Since the pharmaceutical industry operates in a monopolistically competitive atmosphere (where no specific pharmaceutical company dominates the commercialize), the patent-holder of a new fruit can have considerable marketplace advantage over other companies. Lorex pharmaceutical is therefore pursuit solutions to optimize this competitive advantage by balancing cost, productivity, and quality with regards to the production of Linatol. To reach this end, the managers of Lorex Pharmaceuticals must chink and select a target amount to which each of the 10-ounce bottles of the product would be filled. This task takes into status ii issues 1) Specifying higher fill targets will lead to higher material cost but fewer seconds, and 2) custom of the one-standard-deviation rule can cause production delays. Using tests to determine the optimal fill-line, it has been established that 10.17-ounce mark would endpoint in optimal production and maximum returns. Since probability analysis is only suggestive and the accuracy increases with samples size, it is recommended that more than tests be conducted to reach more accurate results. Quality arrogance managers of Lorex Pharmaceuticals must determine and select a target amount to which each of the 10 ounce bottles of Linatol, a new high blood pressure medicine, would be filled. ... The pharmaceutical industry is ever changing, as can be seen from the many changes in the construction of markets and organizations that occur over the years. Competition in the industry is intense, which means that mergers, acquisitions, etc. are not uncommon.In the pharmaceutical industry in the U.S., there is an extreme contrast between a specific products market during patent enforcement (where a patent holder may control over 80 percent of the pro ducts market and can charge premium prices) and after the patent expires (where market control is reduced to about 30 percent because of the many sellers and buyers that soon emerge after patent expiration).Lorex Pharmaceuticals has developed Linatol, a new high blood pressure medicine, and the company holds all patents right to it. A company that develops a new do drugs has the potential to realize very large profits. Decisions in manufacturing budgets and product specifications influence the capacity of a particular proposition product line. These, in turn influence the productivity and actual profit of the company. Thus, manufacturers must take into consideration the cost and quality factors that go into production. It is not unusual for companies to pursue trade-offs in cost, productivity, and efficiency in drift to pursue specific markets. This however, can result in poor product quality. This case analysis aims to show some solutions that would help Lorex Pharmaceuticals str ike a balance between cost, productivity, and quality. Possible Decision AlternativesQuality assurance managers of Lorex Pharmaceuticals must determine and select a target amount to which each of the 10 ounce