1. General DescriptionThe drug manufacturing industry is concerned with the development, production and marketing of drugs for use as medicines. This 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 last century. At the beginning of the 20th century, important discoveries were made, such as insulin and penicillin, which were mass-produced. Other drugs were developed during the 1950s-60s such as contraceptives and heart medications. During that time, numerous organizations and declarations were established to regulate the industry. Until the 1970s, the drug manufacturing industry remained relatively small, then began to expand rapidly. With the development of Internet technologies and research, the production, marketing and sale of drugs has become much easier. In general, the drug manufacturing industry is very risky. To stay in business, companies need to research and develop new products. First, companies have to develop new compounds, yet only one in ten thousand gets approved and it takes years to do so. So only 3 out of 20 drugs generate enough revenue to cover development costs, and only 1 in 3 drugs generate enough money to cover the costs of previously failed drugs. The drug manufacturing industry today. The pharmaceutical industry has undergone a significant transformation in recent years. Many of the large companies generate high revenues, which allows them to expand. Some of them expand on their own, others through mergers and acquisitions of smaller companies. In recent years pharmaceutical companies have shown an increase in their revenues...... middle of paper ......MPONI and REMICADE, infectious disease products, such as INCIVO and PREZISTA, neuroscience products, oncology products and other pharmaceutical products . The Medical Devices & Diagnostics segment primarily consists of franchises such as orthopedics, surgical care, vision care, diabetes care, specialty surgery, diagnostics and other franchises. J&J's rich portfolio of products, franchises and companies 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 pharmaceutical giant worth $71 billion. The company trades on the NYSE as JNJ with 2.83 billion shares outstanding valued at $92.7 per share. 2013 is one of Johnson & Johnson's most successful years. Over the past 3 years, J&J's revenue has gradually increased to a record revenue of $71.3 billion 2013.