EFFICIENCY ASSESSMENT AND STRATEGIC INSIGHTS FOR ENHANCING PHARMACEUTICAL INDUSTRY PERFORMANCE IN PAKISTAN A DATA ENVELOPMENT ANALYSIS APPROACH

http://dx.doi.org/10.31703/gpsr.2023(VIII-I).12      10.31703/gpsr.2023(VIII-I).12      Published : Mar 2023
Authored by : Muhammad Gulraiz Tariq , Muhammad Ziaullah , Asghar Hayyat , Aatzaz Hassan , Muhammad Yousif

12 Pages : 78-91

References

  • Acemoglu, D., & Johnson, S. (2007). Disease and Development: The Effect of Life Expectancy on Economic Growth. Journal of Political Economy, 115(6), 925–985. https://doi.org/10.1086/529000
  • Akhtar, G. J. I. J. o. H., and Science, S. (2013). Indian pharmaceutical industry: an overview [B].
  • Barro, R. J. J. A. o. e., and finance. (2013). Health and economic growth [J]. Annals of Economics and Finance, 14(2): 329-366.
  • Blake, H. (2013). A history of… Eli Lilly and Co. https://pharmaphorum.com/views-and-analysis/a-history-of-eli-lilly-co
  • Blanc, L. (2015). The European Pharmaceutical Industry in a Global Economy: what drives EU exports of pharmaceuticals? [B] (Vol. 31): College of Europe Bruges, Belgium.
  • Bloom, D. E., Canning, D., & Sevilla, J. (2004). The Effect of Health on Economic Growth: A Production Function Approach. World Development, 32(1), 1–13. https://doi.org/10.1016/j.worlddev.2003.07.002
  • Board, P. S. A. S. (1992). Definition and recognition of the elements of financial statements: Australian Accounting Research Foundation [B]
  • Cosmina Lelia Voinea, & Van, H. L. (2017). Non- market strategic management. London Routledge
  • Cung, N. H. J. A. i. S. S. R. J. (2020). Determinants of Tax Burden in Vietnam [J]. World Economic, 7(6), 12-28
  • DANZON, P. M. (1997). Price Discrimination for Pharmaceuticals: Welfare Effects in the US and the EU. International Journal of the Economics of Business, 4(3), 301–322. https://doi.org/10.1080/758523212
  • Danzon, P. M., & Chao, L.-W. (2000). Cross-national price differences for pharmaceuticals: how large, and why? Journal of Health Economics, 19(2), 159–195. https://doi.org/10.1016/s0167-6296(99)00039-9
  • Danzon, P. M., Mulcahy, A. W., & Towse, A. K. (2013). Pharmaceutical Pricing in Emerging Markets: Effects of Income, Competition, and Procurement. Health Economics, 24(2), 238– 252. https://doi.org/10.1002/hec.3013
  • Díaz, R. F., and Sanchez-Robles, B. J. M. (2020). Non-Parametric Analysis of Efficiency: An Application to the Pharmaceutical Industry [J].Quantitative Methods of Economics and Finance, 8(9), 1522-1549
  • Duxbury, P., and Tuck, E. J. N. M. I. P. (2008). Pharmaceutical patents need a new lease of life [B]. 42
  • Haq, S. (2014). Industry woes: Drug shortage feared as consignments stuck at ports. https://tribune.com.pk/story/769399/industry-woes-drug-shortage-feared-as-consignments-stuck-at-ports
  • Hayat, D. K. (2012). Merck Pharmaceuticals (Private) Limited [OL]. https://medimoon.com/2012/09/merck-pharmaceuticals-private-limited
  • Hess, A. M., & Rothaermel, F. T. (2011). When are assets complementary? star scientists, strategic alliances, and innovation in the pharmaceutical industry. Strategic Management Journal, 32(8), 895–909. https://doi.org/10.1002/smj.916
  • Hickson, K. J. R. o. I., and Wealth. (2014). The GDP Value of Twentieth-Century Health Improvements in Developed Economies: Initial Estimates for England [B]. 60(2): 385- 399.
  • Junaidi, I. (2015). No law to stop pharma companies from importing raw materials [OL]. Retrieved from https://www.dawn.com/news/1195030
  • Bharathi Kamath, G. (2008). Intellectual capital and corporate performance in Indian pharmaceutical industry. Journal of Intellectual Capital, 9(4), 684–704. https://doi.org/10.1108/14691930810913221
  • Khan, N. (2016). Pharmaceutical industry of Pakistan. https://www.slideshare.net/NaushiiKhan/pharmaceutical-industry-of-pakistan
  • Kirim, A. S. (1985). Reconsidering patents and economic development: A case study of the Turkish pharmaceutical industry. World Development, 13(2), 219–236. https://doi.org/10.1016/0305-750x(85)90006-3
  • Kumah, A. J. I. J. o. C. I. R. (2017). Minimum wage compliance in developing countries among the informal sector workers in Ghana [B]. 3(04),
  • Langley, P. C. (1996). The November 1995 Revised Australian Guidelines for the Economic Evaluation of Pharmaceuticals. PharmacoEconomics, 9(4), 341–352. https://doi.org/10.2165/00019053-199609040-00007
  • Lee, J.-Y., & Hunt, P. (2012). Human Rights Responsibilities of Pharmaceutical Companies in Relation to Access to Medicines. The Journal of Law, Medicine & Ethics, 40(2), 220–233. https://doi.org/10.1111/j.1748-720x.2012.00660.x
  • Leeflang, R. L. I., Klein-Hesselink, D. J., & Spruit, I. P. (1992). Health effects of unemployment—I. Long-term unemployed men in a rural and an urban setting. Social Science & Medicine, 34(4), 341–350. https://doi.org/10.1016/0277-9536(92)90294-z
  • Greve, J. (2008). Healthcare in developing countries and the role of business: a global governance framework to enhance the accountability of pharmaceutical companies. Corporate Governance: The International Journal of Business in Society, 8(4), 490–505. https://doi.org/10.1108/14720700810899220
  • Madrid, Y., Velásquez, G., and Fefer, E. J. R. P. d. S. P. (1998). The economics of pharmaceuticals and health sector reform in the Americas [B]. 3, 343-350.
  • Majumdar, S., & Asgari, B. (2017). Performance Analysis of Listed Companies in the UAE-Using DEA Malmquist Index Approach. American Journal of Operations Research, 07(02), 133– 151. https://doi.org/10.4236/ajor.2017.72010
  • Mubarik, S., Chandran, V., & Devadason, E. S. (2016). Relational capital quality and client loyalty: firm-level evidence from pharmaceuticals, Pakistan. The Learning Organization, 23(1), 43–60. https://doi.org/10.1108/tlo-05-2015-0030
  • MURATOÄžLU, G. J. J. o. Y. U. (2017). Does pharmaceutical industry boost economic growth? A Competitiveness-related approach [J]. Journal of Economic Development, 12(48), 296- 314
  • MURATOÄžLU, G., MURATOÄžLU, Y. J. J. o. E., and Economy, P. (2016). Determinants of export competitiveness: evidence from OECD manufacturing [J]. Journal of Economics and Political Economy, 3(1), 111-118.
  • Nath, S. D., Islam, S., & Saha, A. K. (2015). Corporate Board Structure and Firm Performance: The Context of Pharmaceutical Industry in Bangladesh. International Journal of Economics and Finance, 7(7). https://doi.org/10.5539/ijef.v7n7p106
  • Ofoegbu, G. N., and Onodugo, V. A. (2016). Liquidity management and profit performance of pharmaceutical manufacturing firms listed in Nigeria Stock Exchange. [J] International Journal of Management Sciences and Business Research, 28(7): 141-162.Pakistan's PharmaceuticalIndustr https://primeinstitute.org/author/mohsin/
  • Mardani, A., Zavadskas, E. K., Streimikiene, D., Jusoh, A., & Khoshnoudi, M. (2017). A comprehensive review of data envelopment analysis (DEA) approach in energy efficiency. Renewable and Sustainable Energy Reviews, 70, 1298–1322. https://doi.org/10.1016/j.rser.2016.12.030
  • Shewell, P., & Migiro, S. (2016). Data envelopment analysis in performance measurement: a critical analysis of the literature. Problems and Perspectives in Management, 14(3), 705–713. https://doi.org/10.21511/ppm.14(3-3).2016.14
  • Shin, K., Lee, D., Shin, K., & Kim, E. (2018). Measuring the Efficiency of U.S. Pharmaceutical Companies Based on Open Innovation Types. Journal of Open Innovation: Technology, Market, and Complexity, 4(3), 34. https://doi.org/10.3390/joitmc4030034
  • Urias, E. (2017). The contribution of the Pharmaceutical Industry to the health status of the developing world. International Business and Management, 41–67. https://doi.org/10.1108/s1876-066x20170000033003
  • Graf von der Schulenburg, J.-M., & Hoffmann, C. (2000). Review of European guidelines for economic evaluation of medical technologies and pharmaceuticals. HEPAC Health Economics in Prevention and Care, 1(1), 2–8. https://doi.org/10.1007/s101980050002
  • Weinstei n, M. C., Siegel, J. E., Gold, M. R., Kamlet, M. S., & Russell, L. B. J. J. (1996). Recommendations of the Panel on Cost- effectiveness in Health and Medicine [J]. JAMA, 276(15), 1253-1258.
  • Yesyurun, P. J. E. J. o. M. (2021). The Determinants Factor of Dividend Payout Ratio: an Empirical Study of Bank Buku IV in Indonesia . Journal of Management Sciences, 11(2),218-224. https://doi.org/10.35335/enrichment.v11i2.71

References

  • Acemoglu, D., & Johnson, S. (2007). Disease and Development: The Effect of Life Expectancy on Economic Growth. Journal of Political Economy, 115(6), 925–985. https://doi.org/10.1086/529000
  • Akhtar, G. J. I. J. o. H., and Science, S. (2013). Indian pharmaceutical industry: an overview [B].
  • Barro, R. J. J. A. o. e., and finance. (2013). Health and economic growth [J]. Annals of Economics and Finance, 14(2): 329-366.
  • Blake, H. (2013). A history of… Eli Lilly and Co. https://pharmaphorum.com/views-and-analysis/a-history-of-eli-lilly-co
  • Blanc, L. (2015). The European Pharmaceutical Industry in a Global Economy: what drives EU exports of pharmaceuticals? [B] (Vol. 31): College of Europe Bruges, Belgium.
  • Bloom, D. E., Canning, D., & Sevilla, J. (2004). The Effect of Health on Economic Growth: A Production Function Approach. World Development, 32(1), 1–13. https://doi.org/10.1016/j.worlddev.2003.07.002
  • Board, P. S. A. S. (1992). Definition and recognition of the elements of financial statements: Australian Accounting Research Foundation [B]
  • Cosmina Lelia Voinea, & Van, H. L. (2017). Non- market strategic management. London Routledge
  • Cung, N. H. J. A. i. S. S. R. J. (2020). Determinants of Tax Burden in Vietnam [J]. World Economic, 7(6), 12-28
  • DANZON, P. M. (1997). Price Discrimination for Pharmaceuticals: Welfare Effects in the US and the EU. International Journal of the Economics of Business, 4(3), 301–322. https://doi.org/10.1080/758523212
  • Danzon, P. M., & Chao, L.-W. (2000). Cross-national price differences for pharmaceuticals: how large, and why? Journal of Health Economics, 19(2), 159–195. https://doi.org/10.1016/s0167-6296(99)00039-9
  • Danzon, P. M., Mulcahy, A. W., & Towse, A. K. (2013). Pharmaceutical Pricing in Emerging Markets: Effects of Income, Competition, and Procurement. Health Economics, 24(2), 238– 252. https://doi.org/10.1002/hec.3013
  • Díaz, R. F., and Sanchez-Robles, B. J. M. (2020). Non-Parametric Analysis of Efficiency: An Application to the Pharmaceutical Industry [J].Quantitative Methods of Economics and Finance, 8(9), 1522-1549
  • Duxbury, P., and Tuck, E. J. N. M. I. P. (2008). Pharmaceutical patents need a new lease of life [B]. 42
  • Haq, S. (2014). Industry woes: Drug shortage feared as consignments stuck at ports. https://tribune.com.pk/story/769399/industry-woes-drug-shortage-feared-as-consignments-stuck-at-ports
  • Hayat, D. K. (2012). Merck Pharmaceuticals (Private) Limited [OL]. https://medimoon.com/2012/09/merck-pharmaceuticals-private-limited
  • Hess, A. M., & Rothaermel, F. T. (2011). When are assets complementary? star scientists, strategic alliances, and innovation in the pharmaceutical industry. Strategic Management Journal, 32(8), 895–909. https://doi.org/10.1002/smj.916
  • Hickson, K. J. R. o. I., and Wealth. (2014). The GDP Value of Twentieth-Century Health Improvements in Developed Economies: Initial Estimates for England [B]. 60(2): 385- 399.
  • Junaidi, I. (2015). No law to stop pharma companies from importing raw materials [OL]. Retrieved from https://www.dawn.com/news/1195030
  • Bharathi Kamath, G. (2008). Intellectual capital and corporate performance in Indian pharmaceutical industry. Journal of Intellectual Capital, 9(4), 684–704. https://doi.org/10.1108/14691930810913221
  • Khan, N. (2016). Pharmaceutical industry of Pakistan. https://www.slideshare.net/NaushiiKhan/pharmaceutical-industry-of-pakistan
  • Kirim, A. S. (1985). Reconsidering patents and economic development: A case study of the Turkish pharmaceutical industry. World Development, 13(2), 219–236. https://doi.org/10.1016/0305-750x(85)90006-3
  • Kumah, A. J. I. J. o. C. I. R. (2017). Minimum wage compliance in developing countries among the informal sector workers in Ghana [B]. 3(04),
  • Langley, P. C. (1996). The November 1995 Revised Australian Guidelines for the Economic Evaluation of Pharmaceuticals. PharmacoEconomics, 9(4), 341–352. https://doi.org/10.2165/00019053-199609040-00007
  • Lee, J.-Y., & Hunt, P. (2012). Human Rights Responsibilities of Pharmaceutical Companies in Relation to Access to Medicines. The Journal of Law, Medicine & Ethics, 40(2), 220–233. https://doi.org/10.1111/j.1748-720x.2012.00660.x
  • Leeflang, R. L. I., Klein-Hesselink, D. J., & Spruit, I. P. (1992). Health effects of unemployment—I. Long-term unemployed men in a rural and an urban setting. Social Science & Medicine, 34(4), 341–350. https://doi.org/10.1016/0277-9536(92)90294-z
  • Greve, J. (2008). Healthcare in developing countries and the role of business: a global governance framework to enhance the accountability of pharmaceutical companies. Corporate Governance: The International Journal of Business in Society, 8(4), 490–505. https://doi.org/10.1108/14720700810899220
  • Madrid, Y., Velásquez, G., and Fefer, E. J. R. P. d. S. P. (1998). The economics of pharmaceuticals and health sector reform in the Americas [B]. 3, 343-350.
  • Majumdar, S., & Asgari, B. (2017). Performance Analysis of Listed Companies in the UAE-Using DEA Malmquist Index Approach. American Journal of Operations Research, 07(02), 133– 151. https://doi.org/10.4236/ajor.2017.72010
  • Mubarik, S., Chandran, V., & Devadason, E. S. (2016). Relational capital quality and client loyalty: firm-level evidence from pharmaceuticals, Pakistan. The Learning Organization, 23(1), 43–60. https://doi.org/10.1108/tlo-05-2015-0030
  • MURATOÄžLU, G. J. J. o. Y. U. (2017). Does pharmaceutical industry boost economic growth? A Competitiveness-related approach [J]. Journal of Economic Development, 12(48), 296- 314
  • MURATOÄžLU, G., MURATOÄžLU, Y. J. J. o. E., and Economy, P. (2016). Determinants of export competitiveness: evidence from OECD manufacturing [J]. Journal of Economics and Political Economy, 3(1), 111-118.
  • Nath, S. D., Islam, S., & Saha, A. K. (2015). Corporate Board Structure and Firm Performance: The Context of Pharmaceutical Industry in Bangladesh. International Journal of Economics and Finance, 7(7). https://doi.org/10.5539/ijef.v7n7p106
  • Ofoegbu, G. N., and Onodugo, V. A. (2016). Liquidity management and profit performance of pharmaceutical manufacturing firms listed in Nigeria Stock Exchange. [J] International Journal of Management Sciences and Business Research, 28(7): 141-162.Pakistan's PharmaceuticalIndustr https://primeinstitute.org/author/mohsin/
  • Mardani, A., Zavadskas, E. K., Streimikiene, D., Jusoh, A., & Khoshnoudi, M. (2017). A comprehensive review of data envelopment analysis (DEA) approach in energy efficiency. Renewable and Sustainable Energy Reviews, 70, 1298–1322. https://doi.org/10.1016/j.rser.2016.12.030
  • Shewell, P., & Migiro, S. (2016). Data envelopment analysis in performance measurement: a critical analysis of the literature. Problems and Perspectives in Management, 14(3), 705–713. https://doi.org/10.21511/ppm.14(3-3).2016.14
  • Shin, K., Lee, D., Shin, K., & Kim, E. (2018). Measuring the Efficiency of U.S. Pharmaceutical Companies Based on Open Innovation Types. Journal of Open Innovation: Technology, Market, and Complexity, 4(3), 34. https://doi.org/10.3390/joitmc4030034
  • Urias, E. (2017). The contribution of the Pharmaceutical Industry to the health status of the developing world. International Business and Management, 41–67. https://doi.org/10.1108/s1876-066x20170000033003
  • Graf von der Schulenburg, J.-M., & Hoffmann, C. (2000). Review of European guidelines for economic evaluation of medical technologies and pharmaceuticals. HEPAC Health Economics in Prevention and Care, 1(1), 2–8. https://doi.org/10.1007/s101980050002
  • Weinstei n, M. C., Siegel, J. E., Gold, M. R., Kamlet, M. S., & Russell, L. B. J. J. (1996). Recommendations of the Panel on Cost- effectiveness in Health and Medicine [J]. JAMA, 276(15), 1253-1258.
  • Yesyurun, P. J. E. J. o. M. (2021). The Determinants Factor of Dividend Payout Ratio: an Empirical Study of Bank Buku IV in Indonesia . Journal of Management Sciences, 11(2),218-224. https://doi.org/10.35335/enrichment.v11i2.71

Cite this article

APA

    APA : Tariq, M. G., Ziaullah, M., & Hayyat, A. (2023). Efficiency Assessment and Strategic Insights for Enhancing Pharmaceutical Industry Performance in Pakistan: A Data Envelopment Analysis Approach. Global Pharmaceutical Sciences Review, VIII(I), 78-91. https://doi.org/10.31703/gpsr.2023(VIII-I).12

CHICAGO

    CHICAGO : Tariq, Muhammad Gulraiz, Muhammad Ziaullah, and Asghar Hayyat. 2023. "Efficiency Assessment and Strategic Insights for Enhancing Pharmaceutical Industry Performance in Pakistan: A Data Envelopment Analysis Approach." Global Pharmaceutical Sciences Review, VIII (I): 78-91 doi: 10.31703/gpsr.2023(VIII-I).12

HARVARD

    HARVARD : TARIQ, M. G., ZIAULLAH, M. & HAYYAT, A. 2023. Efficiency Assessment and Strategic Insights for Enhancing Pharmaceutical Industry Performance in Pakistan: A Data Envelopment Analysis Approach. Global Pharmaceutical Sciences Review, VIII, 78-91.

MHRA

    MHRA : Tariq, Muhammad Gulraiz, Muhammad Ziaullah, and Asghar Hayyat. 2023. "Efficiency Assessment and Strategic Insights for Enhancing Pharmaceutical Industry Performance in Pakistan: A Data Envelopment Analysis Approach." Global Pharmaceutical Sciences Review, VIII: 78-91

MLA

    MLA : Tariq, Muhammad Gulraiz, Muhammad Ziaullah, and Asghar Hayyat. "Efficiency Assessment and Strategic Insights for Enhancing Pharmaceutical Industry Performance in Pakistan: A Data Envelopment Analysis Approach." Global Pharmaceutical Sciences Review, VIII.I (2023): 78-91 Print.

OXFORD

    OXFORD : Tariq, Muhammad Gulraiz, Ziaullah, Muhammad, and Hayyat, Asghar (2023), "Efficiency Assessment and Strategic Insights for Enhancing Pharmaceutical Industry Performance in Pakistan: A Data Envelopment Analysis Approach", Global Pharmaceutical Sciences Review, VIII (I), 78-91

TURABIAN

    TURABIAN : Tariq, Muhammad Gulraiz, Muhammad Ziaullah, and Asghar Hayyat. "Efficiency Assessment and Strategic Insights for Enhancing Pharmaceutical Industry Performance in Pakistan: A Data Envelopment Analysis Approach." Global Pharmaceutical Sciences Review VIII, no. I (2023): 78-91. https://doi.org/10.31703/gpsr.2023(VIII-I).12