Assignment 3- Pfizer

Assignment 3- Pfizer - prices to different medicines. The...

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Myers Elliotte 4/18/2011 International Marketing http://www.guardian.co.uk/business/2008/jun/29/pharmaceuticals Companies such as Pfizer and Eli Lilly are starting to complain about the parallel trading of drugs in Europe. Many companies are buying medicines in Greece and exporting them throughout Europe at a much cheaper price than they actually are. The APA has tried to challenge this practice in Greek courts but under the Treaty of Rome it is legal to move drugs just like it is legal to move cars or other merchandise. The parallel trading to other countries in Europe is now creating a shortage of medicine in Greece for people that actually need the medicine. Pfizer and Eli Lilly say that parallel trading is compromising the security of the drugs and the safety of the patients that really need them. The wholesalers throughout Europe disagree saying that the safety of the drugs are fine and that it is helping people out by providing cheaper
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Unformatted text preview: prices to different medicines. The United Kingdom pharmacists are the biggest importer of the wholesaler medicines, it is estimated that they saved 237 million pounds in 2004. With reduced rates from 15-18% in the United Kingdom it is hard to understand why they wouldnt buy from wholesalers. Pfizer and Eli Lilly say that because of the wholesalers dominating the British market by selling cheaper medicine that they have lost over a billion dollars in revenue. Counter-fitting is now becoming a big problem because of these wholesalers. There have been 9 recalls in the past 3 years in the United Kingdom and that is expected to rise since the profitability is so high on medicine. Pfizer is now pulling some of their products out of certain European countries to stop the re-selling of their drugs in hopes to fix parallel trading....
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This note was uploaded on 08/15/2011 for the course MKTG 4704 taught by Professor Ince during the Spring '10 term at Virginia Tech.

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Assignment 3- Pfizer - prices to different medicines. The...

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