ACME Labs is a global company which deals in pharmaceuticals, herbal, nutraceutical, ayurvedic and veterinary medicines. Being a Financial Manager of the company, I would be proposing a model for the steady flow of money inside company. The endeavor such as proposing the production of medicines for cure of Covid-19 is the soul of this essay. I would be proposing a model to invest in the production of Covid-19 and how it can be beneficial for the company in future in order to maximize the profit affiliated with the product. During the devastating conditions of the Pandemic there is an immense need of Covid-19 medication globally which can be taken as a business opportunity to maximize the production and sales of the company. Being a production company of pharmaceuticals, it is the duty of the firm to cater the global needs of medicine and notice the increase in the demand of the medicines towards a certain disease.

In case of Covid-19, the pandemic has affected the communities at large and a huge number of patients are suffering from the pandemic. The need of medication for Covid-19 is a huge business opportunity because patients are present globally and there is an immense need to cater their needs in order to come out of this crucial condition. The raw materials and their availability are the key factors in the manufacturing process and the profit affiliated with the product made is to be considered before the manufacturing of any medicine. The board of directors must consider the following factors before giving the permission to start the production process of a medication:

·         Target Audience (Patients suffering from Covid-19)

·         Availability of Raw Material for the certain product

·         Risk Affiliated with the product

·         Cost of Production

·         Possible Profit outcome affiliated with the product

·         Cost of Transportation

·         Global Availability of the Product

·         Future Trends and Profit Making

·         Long Term Financing

·         Research and Development Funding

ACME Laboratories authorities are interested to see the possible profit margin affiliated with the endeavor and being the Financial Manager I must highlight the risk and profit that can be made possible by the manufacturing of Covid-19 medication. Covid-19 is a global Pandemic and one thing is sure that there is an immense growth in the demand of medication of Covid-19. It is the duty of a pharmaceutical company to cater the needs of medication that is needed world-wide. The availability of the raw products for the manufacturing process of a certain medication is the main interest of the company because it allows the production of medication at huge level if raw material is available with greater ease and minimum price. Converting that raw material and the chemicals into something useful and helpful for the community at large can be the possible solution in order to maximize the profit margin of a company. While observing the long-term benefits of the medication and the profit affiliated with the future sales of the business model an adequate amount of stock must be available in order to meet the future demand of the patients globally. One of the recommendations is to make the medication globally available in order to compete other pharmaceutical companies by efficient transportation of the medication to all the parts of the World. In order to capture the business market at large, it is mandatory to distribute the medication at a large scale in order to address more patients and provide intime remedy globally. Research and Development Funding is to be decided prior the production process in order to make a rough sketch of maximum profit minus the developing cost of the medication. Long Term Financing is also to be considered that if the company takes loan then what will be the profit that can be generated if that loan is invested properly. The strategy that must be followed is that the profit factor should be larger than the initial investment. There must be an adequate amount of profit generated by the medication in order to cover the risk of loss affiliated with the loan. All the above factors are to be considered before starting a new endeavor in a business model. Authorities need to consider all the pros and cons of the endeavor mentioned in the text in order to pursue with the decision to start the manufacturing process.

 

References:

 

1)      The ACME Laboratories Ltd | One of the leading pharmaceutical companies in Bangladesh. (2021). Retrieved 27 February 2021, from https://www.acmeglobal.com/

 

2)      Long Term Finance. (2021). Retrieved 27 February 2021, from https://www.worldbank.org/en/publication/gfdr/gfdr-2016/background/long-term-finance#:~:text=Definition,public%20and%20private%20equity%20instruments.

 

 

 

3)      ABPI | What are pharmaceutical companies doing to tackle COVID-19?. (2021). Retrieved 27 February 2021, from https://www.abpi.org.uk/medicine-discovery/covid-19/what-are-pharmaceutical-companies-doing-to-tackle-the-disease/#f2e7bcc9

 

 

 

 

 

 

 

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