Auxilium Pharmaceutical Corporation Research Paper

Auxilium pharmaceutic Corporation - Research Paper ExampleIn relation to the arena the company which has been selected is Auxilium Pharmaceutical, a firm that has been in business since 1999. The firms common stocks are traded publicly in NASDAQ under the symbol AUXL. The mission statement of the company is To improve the lives of patients throughout the world by rapidly and efficiently identifying, increaseing and commercializing innovative specialty biopharmaceutical products. The firms products target the following healthcare market places hand and plastic surgeons, endocrinologist, rheumatologists, urologists, and primary care physicians. The two top selling brands the company has are Testim and Xiaflex. The set of the company include integrity, quality, innovation, teamwork, and result oriented. In fiscal year 2010 Auxilium Pharmaceutical generated $211 million in revenues. The system of rules has 565 employees. The pharmaceutical industry is one of the largest and most p owerful industries in the world with 2010 global gross revenue of $875 billion. The joined States has the most expensive healthcare system in the world. One of the challenges that U.S. healthcare companies face when trying to develop a new-fashioned drug is that it takes a lot of time and money to bring a new drug to market. During the last five years the comprise of bringing a new drug to market have gone up from $800 million to $1.3 billion. One of the primary reasons companies receive lengthy patent security department is to allow companies sufficient time to recover its investment and make a reasonable profit. All the be across the entire healthcare system in the United States are on the rise. The medical outgo per capita in the United States is twice as high as other developed countries such as the members of the European Union. In 2009 the United States spend $7,410 in healthcare spending per capita, while Europe in the same period spend only spend $3,615. Quality is not the main issue thats driving the costs up since the Europeans receive equal if not better healthcare than American citizens. The cost of education may be a factor that is affecting the salary scales for doctors in the United States. just about medical students borrow over $250,000 in student loans to finance their education. Once they start practicing doctors are seeking higher salaries than ever before. Drugs are becoming more expensive due to higher development costs and medical plans are charging astronomical yearly fees in comparison with the past. In 2009 the average cost of family healthcare plan was $13,375. Medical insurance plan inflation increased 5% in comparison with 2008. due to the rising cost of medical insurance the amount of Americans that are uninsured has increased to over 50 million. This hurts the sales of pharmaceutical companies because uninsured citizens typically cannot afford to pay for their prescription drugs in cash payments. Auxilium Pharmaceutical ha s multiple strengths that are helping the company stay competitive. The firm has build up a prim brand value during its 13 years operating in the industry. During 2010 the company had very solid sales results of $211.4 million which represent an increase of 29% in comparison with the previous year.