Managing a business is an utter challenge for the irrespective kids of organizations across the globe. This is because of the fact that it takes many a strategies formation for successfully running the business and maintaining the earned reputation. This particular assignment is about the CSL Limited Company in Australia, which is one of the leading solutions globally for the numerous kinds of researches, developments, manufacturing of required elements to treat the critical medical conditions of patients. The wide range of its products includes such as blood plasma derivatives, antivenom, vaccines etc. The main purpose of this assignment is to check the business strategies of CSL Company. Moreover, this would also conduct an environmental analysis of the industry.
A century ago, the company started its journey with a mission to protect the health of the entire nation. After the passage of so many years, the company is well standing on its committed position. The company is a global success in terms of its specialities. Numerous factors have contributed in the highly incremented success of the company. Those factors are but not limited to such as operational excellence, innovative ideas in the field of research & development and the strategic partnership relations with different companies have all contributed in the highly incremented success of the company. Their business strategies have enabled them in reaching to the global customers. The Melbourne based company have experienced an almost tripling in its shares in the last five years. This is by any mean a commendable and remarkable performance (Mooney 2012). Nevertheless, the M&A strategy of the company have enabled it in reaching to the global platform with a sound success. The tripling of the shares is because of the acquisition, which the company has done by acquiring the Aventis Behring business of blood products from France’s Sanofi. The company is also heading towards the potential market such as China; however, the country is itself not very much aware of the technologies, which is better for the serious health problems that have existed in China. It is indeed very difficult to sell the plasma therapies kin such country; however, the government has started recognizing the requirements of such product in the country. Nevertheless, the CEO of the company believes that M&A is part of our strategy, which adds value to their business (Csl.com.au, 2017).
In the past times, the highly competitive company has to face some criticism on different instances. The first of its kinds appeared in the year 2011 when the United States of America’s Food and Drug Administration (FDA) did issue a letter of warning to the CSL Limited against the identified deficiencies in the March audit. They issued warning and asked for the clarification on the identified deficiencies in the audit. They also threatened to cancel the license of operation of the CSL Limited if they fail to revert to the notice. The problem was identified after the adverse febrile reactions that have occurred to a child in the year 2010. FDA worked closely with TGA to find out the possible causes behind the reaction; however, so far, they have not succeeded in achieving the utmost results. The work is still going; which is why no serious actions and its validations could have imposed against the CSL Limited Company.
The second instances of criticism did occur when the TGA did send commonwealth police to seize all the record stating the dealing of CSL with the polio vaccine. The CSL Company did receive the report after detecting the presence of SV40 DNA in mesothelioma tumours. The CSL Company did receive the notification from TGA in the year 1990; however, no such legal actions were imposed on the CSL Limited Company (Therapeutic Goods Administration (TGA), 2017).
· Therapeutic Goods Administration (TGA)
· Pharmaceuticals Benefits Scheme (PBS)
· United States-Australia free Trade Agreement
· Elevating expenses on the health wellbeing
· Reducing prices of healthcare
· Alternative therapies are a threat to the industry
· Elevating numbers of Obesity cases
· Adoption of Internet Technologies
· Inception of nanotechnology
Table 1: PEST analysis
Source: (created by author)
The Australian government is very active in the pharmaceuticals industry, which is very much evident in its concerns towards the betterment off the industry and incepting ways to achieve the maximum success of the business. The PBS scheme is one of the beneficiary schemes brought into existence by the local government of Australia for bettering the infected people by reducing the prices of medicines and the medical equipments to the possible affordable rates. The Government has initiated this scheme to reduce the pricing on the subsidised medicines. This move is indeed very effecting and supporting in nature to the local publics of Australia (Gassmann, Reepmeyer and von Zedtwitz 2013).
TGA is the regulating body that inspects and regulates the principle of operation of different pharmaceutical companies in the industry. The regulating body is to govern the proceedings of different companies in the pharmaceuticals industry in Australia. It is also responsible for classifying the different kinds of medicines and allocating this to the right direction (Barei, Le Pen and Simoens 2013).
The free trade agreement in between the United States of America and Australia is also an important and strict system governing the medical practices of different companies in an appropriate manner. This is because of such agreement that the FDA of the United States of America did challenge the licensing issues of the biggest pharmaceutical company CSL Limited in Australia (Kayser and Warzecha 2012).
The hiring concerns of the local government of Australia are well reflected in the lowering prices of the medicines. The local government is spending a huge amount on the pharmaceutical industry. The highly effective local government is doing some good work for the betterment of common people (Pabby, Rizvi and Requena 2015).
The growing case of Obesity is a challenge to the industry as nothing so far has been done to control the epidemic. The demographic challenges are another challenge to the industry as the Australian are very depressed. This is a challenge to the industry that they bring something very effective, which effectively reduces the rising cases (Barei, Le Pen and Simoens 2013).
The advancement of technology in the country has facilitated the flourishing of the industry to a high level. The advancement of technology has given birth to the nano technology, which is being encapsulated in the medicines to enhance their power (Jungmittag, Reger and Reiss 2013).
· Global footprint
· M&A strategy
· Advancement of technology with the inception of innovative ideas
· Fall short in some critical issues such as the case in the year 2011 when it received the warning letter from the FDA of the United States
· Highly enhancing industry in the country
· High-end supports from the local government
· Highly successful company both in the domestic and the international circle
· Legal proceedings
· Use of nano technology
Table 2: SWOT analysis
Source: (created by author)
The company is highly successful in both the domestic and the international circle. The highly competitive nature of the company and its strategy to have M&A to enhance the dominion has placed this company on the global platform. However, the company has failed in reverting to the escalations raised against on some instances such as in the year 2011 from the FDA of the United States of America. The company has high chances of expanding to a larger market as the local government of Australia is highly careful on the pharmaceuticals industry. Some threats are also a concern such as alternative therapies and the usage of nano technology in the medicines (Mooney 2012).
The leadership style in the company is supportive, which is efficiently been driven by the CEO of the company. The CEO of the company is very efficient and believes work like a team. This is because of such reasons that the CEO of the company has been involved in some M&A processes. One of the major business achievements that the company had achieved was happened after acquiring the Aventis Behring business of blood products from France’s Sanofi. The mentioned acquisition did help in enhancing the existing shares of the company. The CEO of the company is well innovative and very positive towards the organizational goal. The organizational culture is of good level, which is very much evident in the organizational practices. The company that had started its journey a hundred years ago is now one of the leading companies in the biotechnology industries in the world (Mooney 2012).
The CSL Limited is undoubtedly the leading pharmaceutical company in Australia. The company has also produced its impression on the global platform. The company is very quickly converting small things into a larger gain. However, the CSL Limited did also face some criticism in the past for some adverse reaction of the medicines. The FDA of the United States of America did also ask for the reports on the consequences; however, nothing could happen because the research works are still in process to identify the adverse febrile reaction of the vaccine.
Barei, F., Le Pen, C. and Simoens, S., 2013. The generic pharmaceutical industry: moving beyond incremental innovation towards re-innovation. Generics and Biosimilars Initiative Journal, 2(1), pp.13-19.
Braithwaite, J. 2013. Corporate Crime in the Pharmaceutical Industry (Routledge Revivals). routledge.
Csl.com.au. 2017. CSL Limited R&D for Plasma Therapeutics & protein based medicines. [online] Available at: https://www.csl.com.au/research-development [Accessed 14 May 2017].
Gassmann, O., Reepmeyer, G. and von Zedtwitz, M., 2013. Leading pharmaceutical innovation: Trends and drivers for growth in the pharmaceutical industry. Springer Science & Business Media.
Jungmittag, A., Reger, G. and Reiss, T. eds., 2013. Changing innovation in the pharmaceutical industry: globalization and new ways of drug development. Springer Science & Business Media.
Kayser, O. and Warzecha, H., 2012. Pharmaceutical biotechnology: drug discovery and clinical applications. John Wiley & Sons.
Mooney, G., 2012. The health of nations: Towards a new political economy. Zed Books Ltd..
Pabby, A.K., Rizvi, S.S. and Requena, A.M.S. eds., 2015. Handbook of membrane separations: chemical, pharmaceutical, food, and biotechnological applications. CRC press.
Paris, V. and Belloni, A., 2014. Value in pharmaceutical pricing country profile: Australia (No. 63). OECD Health Working Papers.
Pbs.gov.au. 2017. Pharmaceutical Benefits Scheme (PBS) | Frequently asked questions. [online] Available at: https://www.pbs.gov.au/info/general/faq [Accessed 14 May 2017].
Therapeutic Goods Administration (TGA). 2017. The TGA and the USA FDA agree about problems at CSL Biotherapies. [online] Available at: https://www.tga.gov.au/behind-news/tga-and-usa-fda-agree-about-problems-csl-biotherapies [Accessed 14 May 2017].
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