1. General DescriptionThe pharmaceutical industry is concerned with the development, production and marketing of drugs intended for use as medicines. It is one of the oldest industries in the world. The first pharmacies date back to the Middle Ages. Some of today's pharmaceutical companies were founded at the beginning of the previous century. Important discoveries were made in the early 20th century such as insulin and penicillin which became mass produced. Other drugs were developed in the 1950s and 1960s, including contraceptives and heart medications. During this time, many organizations and declarations were created to regulate the industry. Until the 1970s, the pharmaceutical industry remained relatively small, then it began to grow rapidly. With the development of technologies and Internet research, the manufacturing, marketing and sale of medicines have become much easier. In general, the pharmaceutical industry is very risky. To stay in business, companies must research and develop new products. First, companies have to develop new compounds, but only one compound in ten thousand is approved and that takes years. Then, only 3 in 20 drugs generate enough revenue to cover their development costs and only 1 in 3 drugs generate enough money to cover the costs of previously failed drugs.2. The pharmaceutical industry today. Over the past few years, the pharmaceutical industry has undergone a significant transformation. Many large companies generate high revenues, which allows them to grow. Some of them grow on their own, others through mergers and takeovers of smaller companies. In recent years, pharmaceutical companies have shown an increase in revenue...... middle of paper ......MPONI and REMICADE, infectious disease products, such as INCIVO and PREZISTA, infectious disease products neuroscience, oncology products and other pharmaceutical products. The medical devices and diagnostics segment mainly consists of franchises such as orthopedic franchise, surgical care, vision care, diabetes care, specialty surgery, diagnostics and other franchises. J&J's rich portfolio of products, franchises and businesses is one of the reasons the company is one of the market leaders. 1.5 Market Share and Recent Trends Today, Johnson & Johnson is a $71 billion pharmaceutical giant. The company trades on the NYSE as JNJ with 2.83 billion shares outstanding worth $92.7 per share. 2013 was one of Johnson & Johnson's most successful years. Over the past three years, J&J's revenues have increased gradually, reaching a record revenue of $71.3 billion for 2013.