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Claris Life Insurance

In: Business and Management

Submitted By govind677
Words 835
Pages 4
Claris Lifesciences
Claris Lifescienceswas originally founded as Oracle Laboratories Limited on July 19, 1994, as a public limited company. They received the certificate for commencement of business on July 28, 1994. Subsequently, the company name was changed to Core Laboratories Limited as they were acting as the marketing and distribution agent for Core Healthcare Limited at the time. They changed the name of the Company again to Claris Lifesciences Limited on March 31, 1999.
Since then, Claris Lifesciences has become one of the major players in pharmaceutical industry. To understand the pharmaceutical industry better, let us analyze it using the Porter’s five forces analysis.
The five forces model is a popular tool for analysis of an industry to determine how attractive that industry is in terms of overall profitability. The five forces are:
• Threat of new entrants
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of substitute product and services
• Competitive rivalry within the industry
In pharmaceutical industry, these forces determine how any company will fare given the prevalent environment conditions.
Threat of new entrants * The industry has high entry barriers for new entrants due to the costs associated with research & development of new drugs (years of investment in Research &Development for a drug that may or may not work) * Government regulations (i.e. regulation by FDA) make it even more difficult for new players to enter the market as they have to maintain certain standards and get certain certificates in order to obtain licenses for commercial production of drugs * As a result, the threat of entry posed by new comers or potential competitor is a‘LOW’ competitive force due to the above entry barriers & regulatory constraints.
Bargaining power of buyers * Hospitals & other organization

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