An Analysis and Discussion of Joint Venture and Cooperation within the Assignment

An Analysis and Discussion of Joint Venture and Cooperation within the High Entry Cost Market of Biotech and Pharmaceuticals - Assignment Example As a means of better understanding joint ventures and the motivations behind them, the following discussion will be concentric upon defining and discussing the ways in which joint ventures within the biotech and pharmaceutical field can be explained as ultimately rational business choices that are determined based upon ability to engage with the market, success ratios, and potential future profitability. As a guiding entity of the process, the legal departments of the requisite entities must be continually engaged and aware of the process. This represents an added cost and necessity that each and every pharmaceutical firm engaged in research and development must necessarily incorporate a team of legal experts and lawyers to guide them through each and every process of clinical trials, reporting requirements, paperwork, and associated compliance issues. Ultimately, economic theory dictates that that price discrimination corresponds to the following three market conditions: the power of market sellers, the segmentation and overall price responsiveness of the market, and the direct and indirect potential that exists for arbitrage. With respect to market power, this is a concept which can simply be understood as a function of the ability of the seller to raise its prices as compared to the other sellers that exist within the market. Obviously, in the case of a brand name drug that has r ecently been cleared by clinical trials and is available to the marketplace, the ability of the seller to raise his/her prices above that of the competition is very high due to the fact that no perfect substitute exists and there is a near perfect monopoly engaged by the given pharmaceutical manufacturer; albeit for a limited amount of time (Gupta et al 2011).

Fossil Fuels Assignment Example | Topics and Well Written Essays - 1000 words

Fossil Fuels - Assignment Example The first practical use of natural gas was as early as 200 BCE by the Chinese made salt from brine and conveying the natural gas to evaporators through bamboo pipes (EIA, cited in ProCon.org, 2013). After the industrial revolution in 18th century, large scale use of fossil fuels has been reported (â€Å"Why did fossil fuels become so popular†, 2014). Petroleum products are being used as fuel to power transportation such as ships, automobiles and airplanes. Coal is used for electricity generation. The widespread use of fossil fuels harms the environment as these are a major cause of global warming, they cause acid rain, they will end up some day because they are non-renewable, their extraction damages the landscape and they affect the economy due to increase and decrease in their prices (Shepherd, 2002). If we do not start finding and using alternative sources of energy, we will not only end up severely polluting our environment but will also end up with no more fossil fuel reserves left. Fossil fuels are non-renewable resources and the geological processes that resulted in their creation took millions of years, meaning that if we run out of them, we will need millions of years to get them back, that too if the environmental conditions are right (Shepherd, 2002). While fossil fuels are being depleted, there is a need to develop alternative sources of energy. Alternative sources of energy such as nuclear power, solar power, wind power, hydro power and geothermal energy are renewable sources. This implies that they are so abundant on earth that they cannot be depleted. These sources of energy do not pollute the environment and thus are better alternatives to fossil fuels (â€Å"Energy Story†, 2012). Nuclear energy makes is the energy derived from atoms. It is based on nuclear fission and fusion reactions. Nuclear power plants are being constructed worldwide and these use uranium as fuel. A very large amount