文档介绍：Global
Health Care
Global Equity Research 12 March 2002 Industry Focus
Deutsche Bank’s overview of the global
Pharmaceuticals for pharmaceutical industry. Structured in
three parts, this layperson’s guide
includes details on the workings of the
industry, key therapeutic markets and a
Beginners summary of the leading panies
in the US, Europe and Japan
Second Edition March 2003
A guide to the pharmaceutical
industry
Industry Focus
Lucas Herrmann Heidi Sprang Barbara A. Ryan Mark Clark
+44 20 7547 3636 +44 20 7547 5875 +1 212 469 5226 +44 20 7545 0470
@ @ @ @
Deutsche Bank AG
IMPORTANT: PLEASE READ DISCLOSURES AND DISCLAIMERS AT THE END OF THIS REPORT
Global
Health Care Pharmaceuticals
12 March 2003
Pharmaceuticals for Beginners Primer
A guide to the pharmaceutical
industry
Lucas Herrmann Heidi Sprang Barbara A. Ryan Mark Clark
+44 20 7547 3636 +44 20 7547 5875 (+1) 212 469 5226 +44 20 754 50470
@ @ @ @
‘So, as you can see, Lipitor and the statin class act to inhibit the rate
limiting enzyme in cholesterol synthesis’
‘Thanks Dad. That’s really interesting. But whats Lipitor?’
‘Errr ….’
So, you’ve inherited the pharmaceutical sector. panies, loads of
market cap and interesting diseases with some very silly names. Fantastic
- finally you’ve got to follow a stock market industry that might actually be
of some interest to that person sitting next to you at a dinner party.
But wait. Why do these drugs all have at least two names and how do
they work? What is a COX 2 inhibitor and why can’t analysts just say heart
attack or acid stomach instead of using lengthy terms like myocardial
infarction or gastro-esophageal reflux disorder? And what on earth is a
placebo controlled, double blind, intention to treat, Phase III clinical trial
anyway? Oh no, what have I done?!
In our view, the pharmaceutical industry is fascinating, e