MPG’s Business Operations
Mayne Parma Group Ltd was incorporated in 1845 and at that time it was known as FH Faulding & Co. The company is listed on ASX-list.The company conducts its operation in Salisbury located in South Australia.The main operation of the company is the development and manufacturing of branded and generic products which are distributed both locally and internationally.(mayne pharma)
MPG operates through the following segments: Generic products, specialty brands, metrics contract services and Mayne Parma International.(Market Watch, 2017)
Generic products: In this segment company manufactures and distributes generic and branded pharmaceutical products.
Specialty Brands: Through this segment company distributes branded pharmaceutical products.
Metrics Contract Services: In this segment company provides contract pharmaceutical services.
Mayne Parma International: Under this segment, company manufactures and sells branded and pharmaceutical products and provides contract manufacturing services to third parties within Australia.
Industry Overview
MPG operates in the pharmaceutical industry. Bio-medical research, biotechnology firm, originator and generic medicines companies and service related segments including wholesaling and distribution comprise the pharmaceutical industry of Australia. In 2011-12 Australian pharmaceutical industry employed approximately 16500 peoples in manufacturing and spent almost $404million on pharmaceutical research. Furthermore, sales of medicines are worth around $2billion per year.
Mayne Parma Group (MPG) Harvard Case Solution & Analysis(Pharmaceutical)
Furthermore, total expenditure in 2011-12 for health care was around AUD$140.2billion from which 42.4% was contributed by Australian government (state), 27.3% was contributed by local government and remaining by private health cares.(pecial subcommittee of ISPOR-Australia, 2015)
In 1996, to obtain optimal health outcomes and economic objectives, Australian Government developedNational Medicines Policy that lays emphasis over:
• Timely access to the medicines which areneeded by Australia at affordable cost.
• Meeting the requirement relating to quality standards, safety and efficiency.
• Maintenance of the medicines industry.
There arealso stiff regulations over the pharmaceutical companies in Australia which is described below:
Legal requirements for pharmaceutical goods
Therapeutic Goods Act 1989
In Australia only thosetherapeutic goods can be sold which areapproved by Therapeutic Goods Administration (TGA). TGA is agovernment department of health responsible for ensuring the standards of therapeutic goods. The act under which the standard of the goods are determined is the Therapeutic Goods Act 1989 which saves the community from ineffective and unsafe therapeutic goods.(Federal Register of Legislation, 2016)
Pharmaceutical Benefit Scheme
After getting passed by TGA, pharmaceutical products have to be approved by Pharmaceutical Benefit Scheme (PBS).PBS works under Pharmaceutical Benefits Advisory Committee (PBAC). PBAC is an independent body established by National Health Act 1953 which is responsible for determining the needs of drugs in Australia, the efficiency of the treatment through drug and price effectiveness of the drug in comparison with other products.(The Department of Health, 2015)
ACPA
Regulations for the pharmacy in Australia also consist of the community pharmacy authority of Australia which is abbreviated as (ACPA) which is a statutory body. It discusses the national act for pharmaceutical and health products’ marketing and distribution. It is used for recommending the health and providing medical services. It requires approval of ministry(Laetitia, 2011)...................
This is just a sample partial work. Please place the order on the website to get your own originally done case solution.
Related Case Solutions & Analyses:
GEs Imagination Breakthroughs: The Evo Project
Flipping Orthodoxies: Overcoming Insidious Obstacles to Innovation
Being a Mad Man – Without Losing the Plot: Advertising Guidelines for the Ages
Kimura K.K.: Can This Customer Be Saved
E-Prime Language
Rob Parson at Morgan Stanley (C) (Abridged)
Enman Oil, Inc. (F)
Spanish Vines
Mount Everest—1996
Ktm-Venture Capitalist Exit
