Pharmaceutical industry operates under a number of laws and regulations pertaining to safety, quality, patents, etc. Until 1970’s, this industry was relatively small scale. However, with the advent of technology and discovery of new medicine, the industry began to expand at a fast pace. Pharmaceutical companies produce not only drugs that cure diseases but also various nutritional supplements. There is tremendous competition in this industry due to a large number of players worldwide.
The top 10 pharmaceutical companies in world 2013 based on the latest R&D spend figures available.
10. Abbott Laboratories
This is an American pharmaceutical company. It was the first to develop the blood screening test for HIV. Drugs are produced for various diseases like HIV, chronic diseases, thyroid, arthritis, etc. Humira, Norvir, etc are some of its well known drugs.