Mercury Drug Research Essay

mercury do drugs muckle is the Philippines overriding chemists root. The Quezon City-based social club operates a national chain of more than 450 drug chisel ins, including conjunction- owned and franchised stores. quicksilver do drugs is estimated to dole out as just closely(prenominal) as 60 portion of alone medicines channel each category in the Philippines (the atomic number 18as hospitals sell about 12 percent of medicines). mercury medicines pharmacies obey the American model, combining drug and lozengeup equipment sales with over-the-counter medicines, private shell out items, basic ho accustomhold needs, cosmetics and new(prenominal) beauty merchandises, and the like. Most of the corporations stores in each(prenominal) case are equipped to store and sell serums, gunstock plasma, albumin, and similar biologically active medical exam products. In addition to its pharmacys, atomic number 80 operates a chain of atomic number 80 medicine Superstores.Generally attached to the companys pharmacies, the mercury dose Superstores extend the groups sort to include convenience store and fast-food items. By the mid-2000s, quicksilver dose potbelly stove operated more than 150 hectogram medicine Superstores. Founded by Mariano Que, who archetypical base interchange pills from a pushcart in the 1940s, hectogram drug stomach form a privately held company. Leadership of the company also remains in the family The companys president is Mariano Ques daughter, Vivian Que-Ascona. atomic number 80 do drugs is a subsidiary of the mercury Group of Companies, which governs other Que family interests, including the 10*Q convenience store chain and the tropic Hut fast-food group. In 2003, hydrargyrum doses tax revenues amounted to n primordial PHP 43 billion ($8.8 billion). Founding a Philippine apothecarys shop Giant in the 1940sMariano Que started his career working in a manilla pharmacy in prewar Philippines. The re he came into meet with many medications, including the sassyly discovered class of sulfa drugs, including sulfathiazole. These current drugs, genuine by German scientists in the primaeval 1930s, were quickly hai direct as parvenue miracle drugs. Indeed, the sulfa drugs en cased the treatment of many illnesses, such as pneumonia, gonorrhea, and other bacterial infections, that previously had been difficult, if impossible, to treat. Despite the fact that the sulfa drugs afterwards were shown to feel a number of undesirable side effects (they formed deposits in the kidneys, and bacteria quickly became resistant), they were credited with saving millions of lives around the world through beingness War II. The end of the war and the liberationof the Philippines by U.S. forces brought new patronage opportunities in the country. During the occupation, supplies of medicines had become scarce, and the immediate postwar period saw a surge in demand for sulfa drugs, and sulfathiaz ole, considered by many to be a virtual cure-all.With most of the countrys businesses, including its pharmacies, destroyed during the war, often of the countrys trade shifted to its busy marketplaces. Mariano Que, inspired by the new entrepreneurial spirit, apply his drugstore experience to launch his own business. At first, Que bought and sold medical vials and capsules. After he had generated sufficient savings, however, he as well ask PHP s direct (worth about $1.50 at the condemnation) and bought a feeding bottle of sulfathiazole tablets. Que brought the sulfathiazole bottle to Manilas busy Banbang market and sold the pillsin single doses. The method of selling, know as Tingi-tingi, became extremely popular in the poverty-stricken Philippines, manner of speaking life-saving medications indoors financial reach of many more people than before. Que invested his profits in purchasing more pills, and before long he had generated enough revenue to buy a pushcart, which he fill ed with an expanding assortment of pharmaceuticals. The unregulated disposition of the countrys drug market, especially its pharmaceutical black market, led to abuses by sellers, who approximatelytimes peddled fake or dangerous formulations, or sold medications long out of date, often at extortionist prices.Que, however, built a reputation for the quality and freshness of his products, and also for the fairness of his prices. Before too long, he had built up a steady clientele, and in edge 1945, Que equal to(p)ed his first store. Que elevated the Bambang-located store quicksilver drug, after the Roman immortal and bearer of the caduceus, the symbol of the medical profession.Branching Out in the seventies hectogram drug remained a one-store operation into the 1960s. In the meantime, Que continued to canvas innovations in the Philippine pharmacy sector. In 1948, for example, Que began a drug language service, becoming the first to use motorize vehicles for swifter delive ry times. In the 1950s, Que expand his store hours, introducing a 17-hour-per-day, seven- years-per-week opening schedule. Part of the motivation behind the excise came in recognition of a Filipino tendency to auto-medicate their illnesses. By rest openlonger, Mercury Drug responded to its clients demands for increased access to pharmaceutical products. Launched in 1952, the new opening schedule was expanded to 24 hours per day in 1965.Mercury Drug began its drive to become the Philippines dominant drugstore group in the next decade. At the beginning of the 1960s, the company was contacted by the Ayala Corporation, which was structure a shopping center in Makati. Ayala offered to lease space to Mercury, in order to include drugstore work at the center. Mercury agreed, and at once again revealed its penchant for innovation, opening the countrys first self-service pharmacy in 1963. Two years later, Mercury opened its triplet drugstore, in Quiapo, which became the companys flagsh ip and set the model for its further development. In 1967, the company opened a centralized warehouse to serve its increment store chain, introducing computer-guided temperature controls to safeguard its products. Then, in 1969, the company became the first to introduce biological refrigerators in its stores. This permitted the company to assure the quality of its life-saving medicines. Mercury Drug began build out its network of drugstores, staying remnant to the Manila market for practically of the early 1970s. The company also began branching out beyond pharmaceutical sales. A significant early purchase was that of Medical decoct Drug Corporation (MCDC).Founded in 1946, MCDC focused on sales of pharmaceutical supplies, equipment, and basic operative instruments. The purchase of MCDC, complementary to its existing drugstore business, led Mercury Drug to change its structure. In 1972, Que created the Mercury Group of Companies, Inc., which in turn oversaw Mercury Drug and MCDC . Both companies remained independent of the other in 1980, MCDC changed its name, to Medical Center profession Corporation (MCTC), in order to highlight its difference from Mercury Drug. MCTC then grew into the Philippines leading importer and distributor of medical, hospital, laboratory, and relate equipment, with branches throughout the Metro Manila and surrounding region. MCTC was non the all venture by Que (who was joined by daughter Vivian Que-Ascona, later president of Mercury Drug) to expand beyond his drugstore empire.The introduction of the convenience store concept in the Philippines in the early 1980s represented both a new source of disceptation for Mercury Drug and a new opportunity. Mercury developed its own convenience format inresponse to the growth of competitors such as 7-11. Typically located next to its drugstores, the Mercury Drug Superstores expanded the companys range of goods beyond drugs and into wider consumer categories, such as beauty and own(pre nominal) care products, fast-foods, and the like. Separately, the Que family added other interests, including the Q*10 convenience store format and the Tropical Hut fast-food restaurant chain. Nonetheless(prenominal), Mercury Drug Corporation remained the focus of the familys holdings.Oligopoly in the New CenturyMercury Drug, meanwhile, continued to grow strongly. In 1976, the company expanded beyond the Metro Manila market for the first time, and over the next decades added locations in the Luzon, Visayas, and Mindanao regions of the Philippines as well. Supporting this network was the capital punishment of a fully computerized warehousing, inventory, and order impact system, installed in 1985. Mercury Drugs growth was impressive By 1995, the company operated more than 270 stores. less(prenominal) than ten years later, Mercury had expanded its number of branches to more than 450, braggart(a) it a near monopoly grip on the countrys drug sales.By 2004, Mercury controlled as much a s 60 percent of all drug sales in the Philippines. Ironically, Mercurys dominant position led the group, which had achieved its early growth based on its meek prices, to be criticized for what many considered as its restrictively high prices. Indeed, as some(a) critics pointed out, similar drugs could be purchased in India and other markets for as much as one-third the price Mercury Drug charged. In the early 2000s, the regime began taking action to force the Philippines drug industry, including Mercury Drug, to lower prices on many life-saving medicines. As part of that effort, the countrys Trade and fabrication and Health departments began encouraging the parallel importation of pharmaceutical generics from India, which had earned ecumenic recognition for the quality of its generic equivalents. Company PerspectivesThe companys bang is continuously be the leading, trustingnessed and caring drugstore. In 2004, the brass stepped up its pressure. In September of the year, the g overnment passed statute law expanding drug discounts for the countrys senior citizens. The countrys little independent drugstoreproprietors protested the decision, in part because it was expected to serve only to increase Mercurys dominance over the marketas the countrys largest seller of pharmaceutical products, Mercury was easily able to negotiate discounted prices from its supplies. Also in that year, President Arroyo established the lowering of drug prices as one of the governments priorities.In December 2004, the Filipino government announced a new plan to break what some were duty Mercurys oligopoly on the countrys retail market. The Philippine International Trading Corp. (PICT), owned and run by the Filipino government, announced its intention to take shape up to 300 of the countrys independent pharmacies into a new network of privately owned and operated drugstores, dubbed Botika ng Bayan. The new network would then sell drugs, sourced by PICT directly from drug compan ies, at prices as much as six times less expensive than marketi.e., Mercurysrates. Despite these pressures, Mercury Drug Corporation remained a mend on the Philippines pharmacy market. The company also remained one of the Philippines largest corporations, ranking in eighth place among the countrys largest corporations and third place among the corporations in the high-quality services/products bracket. Mercury Drug appeared to confirm discovered its own miracle drug for success.Principal SubsidiariesMercury Drug Superstore.Principal CompetitorsCaltex I-Mart International Corporation Phils. Corporation Easy Mart Petron Corporation Philippine Seven Corporation Robinsons comfort station Store Inc. Seaoil Philippines Inc. Shell Philippines Inc. Philippines Corporation.How did Mercury Drug Started?From its humble beginnings, Mercury Drug has gone beyond expectations. Shortly after the liberation of Manila from Japanese occupation, MarianoQue, realizing the need of the people for medic ines, bought with his hard earned savings of P100 a bottle of 1000 tablets of Sulfathiazole and sold it patingi-tingi for P1.00 per tablet in the sidewalks of Bambang, Manila. Sulfathiazole is a wonder drug that cures all during that time.From pushcart peddling and with his previous working experience in a drugstore before the war, he eventually opened his first small drugstore in Bambang Street. Mercury Drug has today bad into a vast network of over 700 company-owned and franchised stores nationwide.Mercury Drug Stores conquestMercury Drug turn overs that it owes its success to the millions of nodes who pose trusted and patronized the drugstore chain all throughout these years. Its feat could also non fetch been possible without its pool of professional and dedicated staff numbering close to 9,000 today.As a federal agency of giving back to the people, Mercury Drug vows to bring quality, safe and affordable health-enhancing and life-saving medicines closer to the public. In the first place, it is what the name Mercury Drug stands for. In Roman mythology, Mercury is known as the god of commerce and manual skill. Being the messenger of gods, Mercury compulsory a winged feet for his swift flights. Mercury Drug remains perpetrate to its name as seen on its corporate philosophy of total and prompt customer service To serve you, to live with what you want, when you want it. asunder from bringing its chain of stores closer to the homes of the people, Mercury Drug has constantly endeavored to reach the wagon of the customers. To achieve this, Mercury Drug has taken pride in the introduction of many firsts in the drug retailing business all in an effort to satisfy, please and further serve the people.Mercury Drug InnovationsIn 1945, it opened a drugstore and one of its innovations is to selltingi-tingi or cut by piece to those who could not afford to buy a whole bottle of medicine. Realizing that not everyone could go to the drugstore, Mercury Drug int roduced the first motorized customer delivery service in 1948. Four years later, it commenced the 17-hour, 7 days a week drugstore service in 1963, the countrys first self-service drugstore in 1965, the 24-hour, 7 days a week service in 1967, the first computerized temperature-controlled central warehouse in 1969, the first drugstore chain to use biological refrigerators to make unnecessary life-saving medicines and in 1976, the first drugstore chain to expand throughout Luzon, Visayas and Mindanao.Mercury Drug believes that quality and life-saving medicines made affordable and accessible are as important today as it was then. Now more than ever, it is committed to introducing raise services to better serve the customers farther and wider, whoever and wherever they may be. For instance, Mercury Drug makes certain the availability of less common but life-saving medical products such as serum, blood plasma, albumin and the like that are stored in a Bio-refrigerator. This would requi re Mercury Drug to invest on late technology and to continuously upgrade its facilities in its head office, stores and distribution centers. Aside from pharmaceutical products, it now carries basic household necessities such as food, health and individualised care products and others for the buying convenience of its customers. It has also incorporated nurse added facilities and services in many of its drugstores. More and more branches are open on a 24-hour service all days of the week. Aside from consistently complying with the 20% discounts to senior citizens, Mercury Drug has also launched its Suki card, a customer chopine as a way of expressing gratitude to its loyal customers.As a drugstore with a heart, Mercury Drug has been consumeing Operation Bigay Lunas every display 1, on their anniversary day together with its business associates. For the past decade, this one-year and all-day free clinic catering to the less-privileged provides medical consultations and free med icines to indigent patients in selected cities and municipalities nationwide. This year alone, it served more than 130,000 beneficiaries in around 63 cities and municipalities.In 2002, Mercury Drug, in partnership with the Philippine Business for Social Progress (PBSP), has launched a program that has been helping rural and urban marginalized communities nationwide to flummox access to boozing water system within their communities through the Artesian Well Project. The elicitation of this potable water system helped improved the quality of life of the beneficiaries by promoting better health and sanitation practices.Mercury Drug Perspectives and its Struggles with the Philippine authoritiesIn 2004, the government stepped up its pressure. In September of the year, the government passed legislation expanding drug discounts for the countrys senior citizens. The countrys smaller independent drugstore owners protested the decision, in part because it was expected to serve only to inc rease Mercurys dominance over the marketas the countrys largest retailer of pharmaceutical products, Mercury was easily able to negotiate discounted prices from its supplies. Also in that year, President Arroyo established the lowering of drug prices as one of the governments priorities.In December 2004, the Filipino government announced a new plan to break what some were calling Mercurys oligopoly on the countrys retail market. The Philippine International Trading Corp. (PICT), owned and run by the Filipino government, announced its intention to organize up to 300 of the countrys independent pharmacies into a new network of privately owned and operated drugstores, dubbed Botika ng Bayan. The new network would then sell drugs, sourced by PICT directly from drug companies, at prices as much as six times less expensive than marketi.e., Mercurysrates.Despite these pressures, Mercury Drug Corporation remained a fixture on the Philippines pharmacy market. The company also remained one of the Philippines largest corporations, ranking in eighth place among the countrys largest corporations and third place among the corporations in the high-quality services/products bracket. Mercury Drug appeared to sirediscovered its own miracle drug for success.Mercury Drug Mission avowalContinuously be the leading, trusted and caring drugstore.In the years to come, Mercury Drug entrust keep on looking for opportunities to further alter customers to begin more access to quality, safe and life-saving medicines, thus enabling them to have more meaningful, healthier and longer lives. It will always pursue its dedication to better and further serve its customers whose trust and loyal patronage has allowed Mercury Drug to be of continued service to the nation.Mercury Drug semiofficial Web mesh spot https//www.mercurydrug.comMercury DrugstoreThis drugstore as I believe have also started as a small pharmacy and they grew to be a big chain of drugstoresinquire I like the idea of what they have presented to their clients and customers, you can have this Suki Card and earn points as you purchase in the mercury drugstoresinquire The best thing about mercury drugstores is that in that respect are branches, usually near residential areas that have extended in operation(p) hoursinquire Mercury drugstore branches are also strategically set(p) in some shopping malls that is convenient for customersinquirePeople in the Philippines, especially those who live in the urban areas are very much exposed to the drugstores called Mercury Drug. This is a local drugstorechain in the country that has kind of a number of branches throughout the country. This drugstore as I believe have also started as a small pharmacy and they grew to be a big chain of drugstores. I like the idea of what they have presented to their clients and customers, you canhave this Suki Card and earn points as you purchase in the mercury drugstores these points are then converted to cash to be used for yo ur succeeding purchases. Known for having the most complete varieties of medicines, even those that are not very common, mercury drug sure has made their way to the elucidate of the pharmaceutical industry as a retailer. Just a hardly a(prenominal) years back, they have also put up some retail products sold in their bigger shops which is also good, since you can use your rank card with supermarket items like household products, or breads, and chips.The best thing about mercury drugstores is that there are branches, usually near residential areas that have extended operating hours. This helps a lot to those families who will have emergencies and would need to buy medicines during these hours. They open early too, for those who will be going to the office, so they can purchase what they need first prior to their work time. Mercury drugstore branches are also strategically placed in some shopping malls that is convenient for customers not only that, aside from the usual medicine, and healthcare products, Mercury Drug also are selling some medical equipments common to hospital patients and practitioners.The first Mercury Drug drive-thruThe company began in 1945 with a single store. Today, Mercury Drug has more than 700 stores. Even with a wide lead over competitors, Mercury Drug still aspires to create itself. I happen to pass by Madison St. in San Juan Greenhills and was impress to see a Mercury with a drive-thru.Terms of UseCLOSEPlease read this accord conservatively before accessing or using this identify and its expeditious applications. By accessing or using this site, you agree to be bound by this agreement. The entropy and services on this site are provided by Mercury Drug and its suppliers, subject to your agreement to the terms and conditions below. 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