UDC: 339.13:661.12(497.11)005.591:005.21

DOI: 10.7595/management.fon.2015.0001

Business activities of pharmaceutical companies, especially in the last three decades, present numerous challenges. In the times of market changes, strengthening of competitors, development of new products, intensified statutory regulations, for a modern pharmaceutical company to retain its place in the market, it is necessary that it should change continually and adapt to new business conditions. This paper presents an analysis of the pharmaceutical industry and its position in the contemporary economic flows. The basic intention of the author is to point out the importance of the pharmaceutical industry in particularly turbulent times, as well as to closely acquaint all interested parties, especially the general and professional public, with events within the industry. The main objectives of the paper are to analyze: the current situation in the pharmaceutical industry globally; basic challenges encountered by the industry; its perspectives for the future; to identify and analyze business activities of the pharmaceutical companies in the Serbian market, and to identify the initiators of its future development considering external factors that influence it, especially the state policy in the health caresector, as well as economic problems featured in all developing countries.

Keywords: pharmaceutical industry, innovative and generic companies, transformation, therapeutic substitution

Željko Jovanović¹, Dejan Petrović²

¹Actavis Ltd., Belgrade, Serbia

²University of Belgrade, Faculty of Organizational Sciences, Serbia

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