Rhetorical Analysis Of John s Speech - 1296 Words

Lesson Construction Template Introduction and Objective John stands at the podium, facing his audience. He begins his speech. You move forward in your seat, straining to hear what John is saying. As you look around the room, you notice that everyone else is doing the same; some people are even cupping their hands around their ears in an effort to hear. People exchange looks and shrugs: They have no idea what John is saying. It seems so obvious to you, but John is completely unaware. He concludes his speech, and you find yourself wondering what exactly John’s speech was about. What happened during John’s presentation? Why do you think it was so difficult for everyone to understand John’s speech? Though John’s speech started poorly, do you think he could have recovered and finished strong? How might John have accomplished this mid-speech? Today we’re going to look at the importance of being aware of your audience and adjusting volume and clarity to demonstrate audience awareness. Today s lesson objective is: Students will demonstrate awareness of audience using appropriate volume and clarity in formal speaking situations. Learning Skills Take a moment and think about this lesson’s learning objective. What skills will you need to be successful? Consider presentations you’ve seen in the past. How does a speaker demonstrate that he or she is aware of the audience? How does a speaker use volume for effect? Should volume vary to emphasize a point? HowShow MoreRelatedRhetorical Analysis Of John F. Kennedy s Speech1405 Words   |  6 PagesMadinger Composition 1 26 October 2015 We Choose to go to the Moon Rhetorical Analysis There are many things that a speech must contain to make it a well written and spoken speech. John F. Kennedy s speech he gave on September 12th 1962, titled â€Å"Address at Rice University on the Nation s Space Efforts†, better known as â€Å"We Choose to go to the Moon† contains many of the important factors of a successful speech. 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Kennedy is considered one of the greatest speeches in twentieth-century American public address,† says Sara Ann Mehltretter from Penn State University. The 1960s was an important time period during American history. The speech was said to motivate Americans and unite them to successfully create a powerful government. In a time of d esperation, the actions that the United States government would take to help come out successful was very important for the countries future. In John F. Kennedy’sRead MoreRhetorical Analysis Of John F. Kennedy s Inaugural Address Essay1566 Words   |  7 PagesBUT FREEDOM: Rhetorical Analysis of John F. Kennedy’s Inaugural Address Tanner A. Woody Anderson University On January 20, 1961, John Fitzgerald Kennedy delivered a speech with a backdrop of snow and a twenty-degree wind blowing in his face in Washington D.C. In his speech, he starts off with saying that his victory is not for a party but it is for freedom. 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Ibn Sina/Avicenna Free Essays

string(77) " separate from its existence as we can conceive of it without its actuality\." ‘Ibn Sina’s renown brought him the title ‘the leading eminent scholar’ (al-Shayk al Ra’is). Discuss the significance of his philosophical ideas with special focus on his distinction between his essence and existence, and its role in his proof for God as the necessary existent. Ibn Sina, or Avicenna, born 980 AD, was a leading polymath of many subjects; many of his theories are still renowned today; 240 of (approximately) 450 works can authentically be attributed to him, contributing to mainly medicine and philosophy, but also astronomy, physics, psychology, geology and even poetry. We will write a custom essay sample on Ibn Sina/Avicenna or any similar topic only for you Order Now A devout Muslim and child prodigy, he had memorised the Qur’an by the age of ten, and quickly surpassed his teachers of the Hanafi Sunni school, and by the age of 16 was fully learned in the sciences of his time. After studying medicine, he turned his attention to physics and metaphysics, reading Aristotle’s Metaphysics forty times, until he had memorised it, yet he could not grasp its meaning until reading al-Farabi’s commentary which enlightened his problems of understanding. He began writing his own discourse on this topic and many others on his travels to Isfahan whilst working as a physician to Kings and other important figures, gaining prestige in medical matters and his knowledge of philosophy, theology and metaphysics was widely recognised. Even after his death in 1038 AD, his works have continued to influence philosophical and medical thought; his ‘canon of medicine’ served as the highest medical authority for 600 years, and the translation of kitab al-Shifa (Book of Healing) into Latin served as the starting point for many other prestigious thinkers, such as Aquinas, and this discourse will be further looked at here. Avicenna is considered â€Å"the most famous and influential of the philosopher-scientists of the Islamic world† There are many other Islamic philosophers that have attempted to address metaphysics, but Ibn Sina’s works alone systematically and consistently focus on both ontological and cosmological arguments that are not self-contradictory and address the underlying issue of reconciling the Islamic faith with philosophy. â€Å"Before Avicenna, falsafa (Arabic Aristotelian and Neoplatonic philosophy) and kalam (Islamic doctrinal theology) were distinct strands of thought, even though a good deal of cross-fertilization took place between them. After Avicenna, by contrast, the two strands fused together and post-Avicennan kalam emerged as a truly Islamic philosophy, a synthesis of Avicenna’s metaphysics and Muslim doctrine. † This is the primary reason for his lasting prestige; his ideas in the Book of Healing concentrated not on medicine, but on the healing of the soul and body, and held two key fundamental ideas; the distinction between essence and existence, and God as the necessary existent, a doctrine that has previously not been merged successfully. The doctrine of a ‘thing’ (shay’) proved difficult to define for the Mu’tazilis, as although they differentiated that a ‘thing’ can either be existent or non-existent; they struggled to define where the non-existent entities lay. Using the Qur’anic verse of creation: â€Å"our statement to a thing, when we wish it [to be], consist merely in our saying â€Å"Be! † and then it is. † (The Holy Qur’an 16:40), we can identify that something can exist in mentality before it exists in actuality; God thought of a ‘thing’ then willed it into being by saying â€Å"be! and it was. This shows that the idea of the ‘thing’ existed before its reality, meaning that the Mu’tazilis were able to conceive of the ‘thingness’ of contingent entities, and their universality (of thingness) can either exist in reality or in mentality. They could not address the idea of non-existent things, (maâ⠂¬â„¢dum) such as a square circle, as their impossibility cannot even exist in the mind. This idea opposes the Sunni theological perspective, where they hold that ‘thingness’ and existence are one and the same. They hold the idea of co-extensiveness (where all things are existents, and all existents are things) as they believe that this idea solves the problem of creatio ex nihilo; they did not want to give any flexibility to the idea that things existed before creation, or held eternality alongside God. They held that a ‘thing’ was the sum of all its predicates, one of which was existence; a thing could not be without it existing. However, this poses problems for the existence of things that can only occur in the mind, for example, a unicorn. There is a split in Sunni philosophy where some believe that a thing can either be considered as extra-mentally existent, (and so exist just as much as they would in actuality) or some believe a thing that only exists in the mind simply does not exist whatsoever. This is problematic, as we can all conceive of a unicorn, despite its non-reality, (therefore it cannot simply not exist at all), yet we cannot think of a unicorn existing in the mind on the same level as our own existence. Ibn Sina draws upon al-Farabi’s identification that ‘thing’ and ‘existence’ cannot be used as the same copula; you cannot ubstitute ‘thing’ for ‘exists’ in a sentence in a way that can make sense; for example, one can easily identify that the statement ‘Zayd exists as a man’ to be appropriate, but one cannot say ‘Zayd thing as a man’, as it is nonsensical. Therefore, Ibn Sina concludes that there is a distinction between ‘thing’ and ‘existence’, and also makes the distinction between existents and non-existents. For Avicenna, â€Å"there are four kinds of scientific questions. 1) One is a question about the ‘existence’ or ‘non-existence’ of things. 2) Another is about the ‘whatness’ of things. 3) And another is about the ‘whichness or ‘thatness’ of things. ) Also, there is the question about the ‘cause’ of things. † His distinction between essence and existence not only addresses the problem of the Sunni theologians, but, in his mind, satisfies what a ‘thing’ is, and that its ‘existence’ is not a predicate of thingness, and this argument can prove the existence of God as necessary. For Ibn Sina, existence adds to an essence specific determination external to the essence of a thing; existence adds to essence, an essence can be without existing, for example, the demonstrati on of the unicorn; its essence is separate from its existence as we can conceive of it without its actuality. You read "Ibn Sina/Avicenna" in category "Essay examples" He further explains this with categorising the necessary (wajib) and the possible/contingent (mumkir). Avicenna makes three distinctions: concrete existent, a mental existent and that which is neither of these two. A concrete existent is that which adds existence to its essence: that is to say that it, as an essence, also has existence. A mental existent is that which has essence, but not existence (such as a unicorn – it has essence because we can think of it). That which is neither is that which is logically impossible to exist even in the mind, such as a square circle; as it is impossible to conceive of such a thing, this does not even have essence. This solves the problem faced by Sunni philosophers, as it highlights the difference between mental essences without existence and concrete essences with existence. Avicenna continues to demonstrate three further aspects of essences: necessary, possible or impossible. Those that are impossible are those that it is illogical to think about, such as square circles, and as we have already shown, these do not have essence OR existence. That which is necessary is so because it’s very essence implies existence; its denial would involve a contradiction, (which we will further explain later). The possible is that which has essence that has potential to exist; it can either exist, or not exist. This is what contingent beings are categorised as; they have the potentiality to exist, through the cause of another; it cannot exist through itself, as otherwise it would be necessary, and it cannot not exist, as otherwise it would be impossible. Once actualised (through another), concrete existence is added to the essence. Avicenna would argue that mental essences are not concrete existents because they have not been brought into existence by another, so remain as potential essences that could exist, but do not in actuality. So far then, it has been demonstrated that Ibn Sina made the distinction of essences between that which cannot exist, that what can exist if brought into being by another, and that which exists through its own definition of its essence. When a possible essence is actualised through another, and becomes a concrete existent, it becomes ‘necessary through another’ – it must be caused by a cause external to itself. This in turn, must also be caused by another previous external cause, and so on. However, these causes cannot continue ad infinitum- there must be an external cause that itself is not caused by any other being external to itself, that is to say, that the cause is contained within itself, what Avicenna calls necessary through itself. There cannot be an infinite regress of causes, but must be one cause that can sustain and contain all possible causes, but itself need not be caused, as its essence itself contains existence, the Necessary Existent; God. So then, we have tackled the question previously posed of the existence or non-existence of things, what they are (possible/necessary), and the ‘thatness’ (whether it is necessary through another or itself) – in turn answering the fourth question set out by Ibn Sina of the cause of things. Proof of God’s existence from this argument stems from the cosmological argument; an idea from Aristotle that there must be a First Cause in order to bring about the causes that cause others. However, Ibn Sina improves this argument by recognising that what something is differs from the fact that it is. â€Å"Ibn Sina’s way of making his point is to say that esse [fact of a things existence] is an accidental property of things – that is a quality it may or may not possess, without changing what it is†¦Ã¢â‚¬  Previously, philosophers such as Aristotle had only considered the nature of things, rather than setting them apart from their physical realisation. The distinction Avicenna makes between physical and mental existence is one that Aristotle had trouble in combatting. The most important text of this kind is Avicenna’s al-Shifa? ’ (The Healing, namely from ignorance). The title was wrongly (but aptly) translated into Latin as Sufficientia, as if Avicenna’s single comprehensive work was a sufficient replacement for the several books of Aristotle† This distinction was so important that every philosopher after Ibn Sina had to respond; the question was now apparent that there must be primacy of either essence or existence, as he had distinguished that they were not one and the same. Debate has followed Ibn Sina’s argument, that has mainly taken two paths; Suhrawardi decides that essence is prior to existence, whereas Ibn Arabi believes that only existence is real and essences are how existence presents itself to us. Thus, it has been demonstrated that Ibn Sina was successful in using an argument from reason that signifies God as the one creator, First to cause others, from which we could not possibly exist if it were not for His necessary existence through Himself. This was so profound for his time, as it had only been remarked that there previously lay a difference between the necessary and possible. Avicenna’s distinction between ‘through itself’ and ‘through another’ led to the reconciliation of Islamic thought and philosophical reason; there lies no contradiction between our own existence as concrete and God’s existence as wholly other, beyond our conception of contingent. This argument was so influential on both later thinkers due to his ability to draw upon early philosophical ideas and his faith brought together Aristotelian and neo-Platonic philosophy and Islamic theology in a way that made the distinction between theoretical and practical knowledge; logically acknowledging that the first cause as a necessary existent can only be a monotheistic God, as all predicates, including that of existence are perfectly contained within the very definition of His essence. This theory is reconcilable with Islamic thought as it signals disenchantment with neo-Platonic thought, developing a more personal philosophy that argues for our own necessary existence (through another), whilst still acknowledging that God is unattainably necessary through Himself. â€Å"[Ibn Sina] envisaged a world resting on two pillars: a) Greek philosophy and b) Qu’ranic revelation and the virtues of man†¦Ibn Sina was a highly spiritual and ethical person, considering that, for him, teaching and learning should lead also to rooting in faith deeply in the soul of the individual. This meant that each individual had meaning for their own life, which they could relate back to God, personally having their own cause rooted in the Divine Necessary Existent. Bibliography * Avicenna ; Farhang Zabeeh, ( Ed. Trans. ) Avicenna’s Treatise on Logic: Part One of Danesh-Name Alai (a Concise Philosophical Encyclopaedia and autobiography) (Martinus Nijoff, the Hague, 1971) * Charles Burnett, â€Å"Arabic into Latin: the reception of Arabic philosophy into Western Europe† in The Cambridge Companion to Arabic philosophy, ed. Peter Adamson and Richard C Taylor (Cambridge University Press, Cambridge, 2005) * F. C. Bauerschmidt, Holy Teaching: Introducing the Summa Theologiae of St. Thomas Aquinas (Michigan, Brazos Press, 2005) * Robert Wisnovsky, â€Å"Avicenna and the Avicennan Tradition† in The Cambridge Companion to Arabic Philosophy, ed. Peter Adamson and Richard C Taylor (Cambridge University Press, Cambridge, 2005) * Sebastian Gunther, â€Å"Be Masters in That You Teach and Continue to Learn: Medieval Muslim Thinkers on Educational theory† in Comparative Education Review, Vol. 0, No. 3, (August 2006) Article DOI: 10. 1086/503881 Web Resources: * Encyclop? dia Britannica Online, s. v. â€Å"Avicenna,† accessed December 11, 2011, http://www. britannica. com/EBchecked/topic/45755/Avicenna * http://quran. com/ accessed 15/12/11 ——————————————– [ 1 ]. Encyclop? dia Britannica Onlin e, s. v. â€Å"Avicenna,† accessed December 11, 2011, http://www. britannica. com/EBchecked/topic/45755/Avicenna. [ 2 ]. Robert Wisnovsky, â€Å"Avicenna and the Avicennan Tradition† in The Cambridge Companion to Arabic Philosophy, ed. Peter Adamson and Richard C Taylor (Cambridge University Press, Cambridge, 2005) p. 92 [ 3 ]. The Holy Qur’an 16:40 as cited from http://quran. com/16/40 (Sahih International Translation) accessed on 15/12/11 [ 4 ]. Robert Wisnovsky, â€Å"Avicenna and the Avicennan Tradition† in The Cambridge Companion to Arabic Philosophy pp. 106-107 [ 5 ]. Avicenna Farhang Zabeeh (Ed. Trans. ) Avicenna’s Treatise on Logic Part One of Danesh-Name Alai (a Concise PhilosophicalEncyclopaedia and autobiography) (Martinus Nijoff, the Hague, 1971) p. 5 [ 6 ]. F. C. Bauerschmidt, Holy Teaching: Introducing the Summa Theologiae of St. Thomas Aquinas (Michigan, Brazos Press, 2005) p. 57 [ 7 ]. Charles Burnett, â€Å"Arabic into Latin: the reception of Arabic philosophy into Western Europe† in The Cambridge Companion to Arabic philosophy, p. 371 [ 8 ]. Sebastian Gunther, â€Å"Be Masters in That You Teach and Continue to Learn: Medieval Muslim Thinkers on Educational theory† in Comparative Education Review, Vol. 50, No. 3, (August 2006) pp. 376 – 377 Article DOI: 10. 1086/503881 How to cite Ibn Sina/Avicenna, Essay examples

Factors Affecting the Stock Market for Currency- myassignmenthelp

Question: Discuss about theFactors Affecting the Stock Market for Currency. Answer: First-time investors in the stock markets should consider familiarizing themselves with the sector to avoid falling victims of the related risks. They have to research in the field extensively and maximize the opportunities to heighten their profits. The stock markets are often competitive, and thus one needs to apply different and more distinguished techniques to survive (Demirer, 2013, pg.82). There are some broad economic factors that are known to impact the stock markets. These factors can either be intrinsic or extrinsic. This paper will majorly deal with the extrinsic factors. They include inflation/deflation expectations, monetary and fiscal policy, demographic trends, economic growth rates, interest rates, supply and demand and taxes (Sardasht, 2014, pg.130). These factors act as the fuel which steers the development of stock markets. The stated factors may either impact the stock markets positively (increased profits), negatively (decreased profits) or even in both extremes. This paper will provide a framework of what the factors are and how they affect the stock markets. Inflation/Deflation Expectations Inflation refers to the rise in the price of commodities in relation to the currency. It lowers the buying power of a unit currency. This implies that the consumers will be compelled into buying lesser goods thus declining the expected profits. This has a negative effect on the economy and calls for a quick action to attain a steady state (Pimentel, 2014, pg.75). High inflation at times stimulates job growth. However, it can as well hinder the companies from hiring more personnel due to the low profits realized. This negatively affects the living standard majorly of the people with fixed income. Analyzing the past trends of inflation can provide relevant insights to the first-time investors in the stock markets. However, this may not provide sufficient grounds for decision-making since such studies may give contradicting findings (Marcet, 2017,pg.33). Inflations can either have negative or positive implications on the stock markets. This greatly relies on the central banks ability to control the monetary policy. The investors are left with the responsibility to gauge the impact of both expected and unexpected inflations on stock returns. Deflation refers to a state of reduced currency which consequently transpires to a higher buying power. In incidents of deflation, the value of a unit currency is considerably higher, and thus a unit currency may purchase a higher amount of goods. Precisely, deflation is the inversed form of inflation. It causes economic stagnation as well as high rates of unemployment (Li, 2010, pg.249). Deflation is caused by the fall in demand of items possibly due to increased supply or a decreased supply of the currency. Though a rare phenomenon, deflation has been historically proven to help consumers in terms of affordability of goods. Contrary, past research show that it has unfavorable effects on stock markets. In the minimal cases of deflation which have occurred, stock market values deteriorated (Pimentel, 2014, pg.80). Ideally, consumers fear to invest in depreciating commodities as things are expected to be cheaper in future (Toraman, 2016, pg.6). This delays the purchases in the stock markets as consumers anticipate low return rates. The need for lending by investors and companies is usually lowered in a deflationary economy. Deflation results in a decline in the stock markets, an incline of government bonds and a sloping of the cooperate bonds. Monetary Policy The monetary policy entails the strategies put in place by the countrys central bank in relation to the money circulating in the economy and its worth (Kurov, 2016, p.1212). This is done to control inflation and interest rates as they have a direct impact on economic growth. First-time investors should have some basic knowledge on this policy as it can have a significant influence on the portfolios and net worth. The policy can be described as restrictive, accommodative or neutral (Kurov, 2016, p.1216). In the incidences of a fast growing economy, the central bank may take steps to bring back the economy to normalcy by restrictive measures (tight monetary policy). Contrary, when inflation is significantly lower, the central bank is charged with the responsibility to acquire the accommodative policy to facilitate economic growth. The effects of the monetary policy to investments can be described as either direct or indirect. The direct impact is evident in cases of the level and the direction of interest rates (Stoica, 2012, p.10). The indirect impact, on the other hand, is realized through predictions about where the inflation is headed to. Demographic Trends Demographic changes in any typical country have major implications for investment risks and returns. The first time investors interested in investing in the stock markets should carry out adequate analysis on the financial markets to provide them with the insights of the possible profits and risks. Some trends in the population change are known to have negative consequential outcomes in the financial markets (Yau, 2012, p.158). A blend of the always declining birth rates and the ever-increasing number of pensioners poses a great threat to wealth creation. This rate threatens the certainty of the first-time investors in the stock markets. To maximize on the prevailing circumstances, it is highly necessary to consider the rapidly aging population in the construction of a portfolio. Recent statistics imply that there might be unfavorable economic fluctuations due to the high rate of aging and the low birth rates. By 2030, the number of people aged 65 and above may increase by approximately 8.6% compared to their number in 2003 (Yau, 2012, p.156). The declining number of the younger population will consequently translate into a low buying power. Ideally, the younger generations have a tendency to spend more than they save. This will lower the demand for all kinds of investments. Apart from the challenges brought about by the aging population, it is also notable that the investment and consumer behavior may also be affected by the questionable rates of immigration. Though most of the western countries have substantial immigration flows, countries with lower immigration rates may have much to fear. First-time investors in the financial market need to have in mind the possible challenges posed by immigration (Marcet, 2017, p.35). It would be wise to invest in more stabilized countries to avoid risks. However much does the demographic trends create risks, it should also be noted that they are as well associated with opportunities. Investors may opt to maximize on emerging market economies. Economic Growth Rates The economic conditions of any state are reflected in the stock markets. A rapid growth of the economy often translates to increased return rates and profits in the stock markets (Narayan, 2013, p.599). These profits draw more recognition by the public as they can earn greater dividends by being shareholders in such companies. The economy of a country is directly proportional to the rate of profits in the stock markets. If the economic activities of a country are reduced then, the stock markets will fall. The recession of the economic activities translates to decreased profits, fewer dividends and the firms become insolvent which may not be encouraging to the shareholders. However, the stock markets can as well rise in a recession. This can be caused by factors such as anticipation effects, ultra-low interest rates, and profits as a share of Gross Development Product (GDP) (Narayan, 2013, p.597). References Demirer, R. (2013). Can advanced markets help diversify risks in frontier stock markets? Evidence from Gulf Arab stock markets. Research in International Business and Finance, 29 (7), 77-98. Kurov, A. (2016). Monetary Policy and Stock Prices: Does the Fed Put Work When It Is Most Needed? Journal of Futures Markets, 16 (12), 1210-1230. Li, X.-M. (2010). The tail risk of emerging stock markets. The tail risk of emerging stock markets, 10 (4), 242-256. Marcet, F. (2017). Analyst coverage network and stock return comovement in emerging markets. Emerging Markets Review, 13 (1), 32-67. Narayan, P. K. (2013). Has the structural break slowed down growth rates of stock markets? Economic Modelling, 30 (4), 595-601. Pimentel, R. C. (2014). StocReturns Under High Inflation and Interest Rates: Evidence from the Brazilian Market. Emerging Markets Finance and Trade, 50 (1), 71-92. Sardasht, M. S. (2014). An empirical study of factors affecting investors decisions in the Iranian Stock Market: A combined DEMATEL-ANP approach. Aestimatio , 9 (2014), 112-149. Stoica, O. (2012). Monetary Policy and Stock Markets: Evidence from EU Countries. Communications of the IBIMA, 3 (4), 1-11. Toraman, C. (2016). Volatility Spillover Effect from Conventional Stock Markets to Islamic Stock Markets. International Journal of Academic Research in Economics and Management Sciences, 5 (4), 4-9. Yau, J. K. (2012). Demographic Trends, the Dividend-Price Ratio, and the Predictability of Long-Run Stock Market Returns. CFA Digest, 42 (3), 156-158.

Porter Five Force Model free essay sample

In the quarter that ended in September 2012 the pharmaceutical companies in India performed well in the US markets and this is expected to help them do well in the days ahead too. The local market is set to see some exclusive product introductions and is itself expected to record a decent level of growth. India Pharmaceutical Industry Information At present there are almost 24 thousand companies in this industry with almost 330 companies in the organized sector. The top 10 companies hold almost 33. 33 percent of the market. In 2012, the industry saw a year-on-year growth of almost 16 percent and is presently worth around 10 percent of the global industry in terms of volume and 1. 4 percent with regards to worth. Exports provide a substantial amount of the revenue generated by the Indian companies. While certain companies are focusing on markets that are not fully regulated as well as the generic markets across Europe and the US, others are looking to operate as custom manufacturers for innovators. We will write a custom essay sample on Porter Five Force Model or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Bio-pharmaceutical markets have lesser competition and the manufacturing process is rather complex. This is letting a number of companies focus in that area. The 5 leading companies in this sector spend approximately 5 to 10 percent of their earnings in research and development related activities. However, in global circles this percentage is near 15 to 20 percent. Indian companies have been taking various steps for their Ramp;D operations like associating with innovators. Some other companies have changed their molecule license structure for making their milestone payments. Some organizations are also preferring to make their research and development units into separate entities. However, with an overall decrease in research companies are now venturing into generics. In such a scenario the innovation-centric companies are purchasing such pharma houses or partnering with them. The supply in the Indian market is high when it comes to the therapeutic medicines and this is typical for a market that is growing. The case is different for lifestyle drugs. The demand is rather high in certain therapy related segments. However, this is expected to change once the literacy and life expectancy levels increase. Future growth of Indian Pharmaceutical Sector Compared to the similar quarter in 2011-12 the sector is expected to see a revenue growth ranging between 20 and 25 percent. The reduction in the value of the Indian currency is also expected to help the exports. However, the extent of benefit will depend on the level of exposure for each company to hedging. It is expected that Ranbaxy will be making profits of at least 40 percent thanks to the sale of Lipitor’s generic version. Lipitor is the biggest seller among drugs in the world. It is also supposed to introduce Actos, a diabetes drug valued at 3 billion dollars. Sun Pharma has performed well in both India and the US and this is supposed to help its future performance. The USFDA has lifted the ban on Caraco, its supplementary company, and this will help its revenues from the US. In July and August 2012, the Indian pharmaceutical market has grown by 15 to 16 percent. The segment for acute therapies has grown slowly because of the deferred monsoon. This is also likely to make sure that majority of these companies grow slowly in 2012. Barclays Equity Research expects that in the quarter starting after September 2012 the Indian pharmaceutical companies will show an all round performance. Companies like Sun Pharma, Dr. Reddy’s Labs, Glenmark, and Lupin are supposed to perform better than the rest. Angel Broking is expecting that the pharma companies listed in the Sensex will have a commendable growth rate of 23 percent in their sales compared on a year-on-year basis. In case of earnings the year-on-year growth has been estimated at 24 percent. The large cap companies are expected to win the race against the others. ICICI Securities opines that companies that have incurred debts outside India could be in a good position thanks to the present situation involving the Indian National Rupee (INR). It is expected that entities expecting forex losses will see a reversal in their fortunes. One of the likely beneficiaries in this case is Ranbaxy. Pricing issues in Indian Pharma Industry However, there is a fair amount of uncertainty regarding the policy of determining the prices of the drugs. This is expected to be a problem for the industry in the near future. There are three levels of regulations when it comes to the drug price control order (DPCO). It is imposed on areas like bulk drugs, greater profitability, and the drug formulae. This means that the profits of the companies will depend on the decisions taken by the authorities. The government has recently brought out a National list of essential medicines (NLEM) which has 354 drugs that are likely to be subjected to DPCO. This ruling has faced high opposition from the industry members. Challenges faced by Indian pharmaceutical industry The major barriers to entry in this market may be enumerated as below: * Licensing Patents * Distribution network * Consent for plant from regulatory authorities In India the distributors are presently seen to prefer the generic products in order to increase their profit margins. The buyers in India have a lot of bargaining power because of the divided nature of the industry, which ensures that there is a lot of competition in every segment. India pharm aceutical Industry Financial Performance The multinational companies performed well during 2011-12 and out of the 25 top performers 13 were such entities. However, from an overall perspective, the margins were not so good. Majority of the companies saw greater expenses for employees and raw materials. The companies, though, continued to increase their presence to the rural areas and add to their MR strength. India Pharmaceutical Industry Scope It is expected that with the present emphasis on product patents, fresh products will soon come into being. The local companies are expected to face stiff competition from their international counterparts who are supposed to be more positive and direct with their product launches. However, price negotiation will also be an important issue for these companies. It is expected that lifestyle drugs such as the following will be attractive propositions in the future: * Cardiovascular * Anti depressants * Anti diabetes * Anti cancer * Hypertension * Asthma * Congestive heart failures These segments will also see high growth owing to lifestyle alterations expected in the future due to changed patterns and city lifestyles. Contract manufacturing and research or CRAMS is expected to be a major force in the future. Following are India’s major areas of strength in this domain: * English speaking skills Lots of patients with various types of diseases * Capable scientists and doctors at comparatively lesser expense * Observance of global quality regulations With regards to contract manufacturing of drugs it is preferable for both top generic and innovator companies. This is expected to get bigger in the days ahead with more pressure on companies to reduce their expenses. The McKinsey Report states that the market will be worth $55 billion by 20 20 but its capacity, till that time period, has been estimated at $70 billion. Government support for Indian Pharma Industry The Indian government has been fairly supportive of the national pharmaceutical industry since its inception. During 1986 it set up the Department of Biotechnology that was monitored by the Ministry of Science and Technology. From that period, the central governments as well as the states have been offering several special considerations for this industry so that it could grow properly. Some of them may be mentioned as below: * Tax benefits * Exemption from VAT and related fees in several states * Grants for startups focusing on biotech * Fiscal help with subsidies and patents Assistance for companies looking to expand or set up biotech parks in India * Monetary help for utilities, investment, land and more areas * Permission to test on bigger animals – granted as per Prime Minister’s initiatives for this sector Top Pharmaceutical Companies in India Ranbaxy Laboratories  : Ranbaxy Laboratories Limited became a public entity in 1973 after being incorporated during 1961. It is the largest pharmaceutical company in India. In 2011-12 it earned $2. 1 billion around the world and its major market is North America. Following are its top products: * Valacyclovir Ciprofloxacin and its combinations * Simvastatin * Ketorolac Tromethamine * Donepezil * Imipenem+Cilastatin * Atorvastatin and its combinations * Ginseng+Vitamins * Co-amoxyclav and its combinations * Loratadine and its combinations Cipla Cipla was established during 1935 and its headquarters are at Mumbai. It has 20,000 employees and its revenue is $1. 4 billion. It is among the biggest generic companies in the world and has more than 20,000 products, 40 dosage form s, and 65 therapy categories. Its products can be classed into three main categories: * API * Veterinary * Formulations Dr. Reddy’s Laboratories Dr. Reddy’s started as a laboratory during 1984 as a maker of APIs. At present the company is worth at least $200 million and has more than 2700 employees and 3000 salesmen. Its products may be classified into the following: * Global generics * Differentiated formulations * APIs * Biosimilars * CPS * CPSIA * New chemical entities Lupin Lupin is based in Mumbai and is presently worth $1. 4 billion. The company’s EBITDA is 20 percent and going further up. Since 2005 it has been able increase its market capitalization 11 times and also increased its global presence. It is also one of the 25 top pharmaceutical companies of the world. Its products and services may be categorized as below: * Branded formulations * Advanced drug delivery systems * Generics * Novel drug discovery and development * APIs * Biotechnology Aurobindo Pharma PV Ramaprasad Reddy, along with some dedicated medical professionals, and K Nityananda Reddy set up Aurobindo Pharma during 1986. At present the organization is one of the top 10 Indian companies when it comes to consolidated revenues. It also exports its products in 125 countries and gets 70% of its revenues from these operations. Its products may be classed into the following: * Formulations * Peptides * API Sun Pharmaceutical Sun Pharmaceutical is a global specialty pharmaceutical company and operates in 43 markets with significant presence in India and the US. The company commenced operations during 1983. It is the 5th biggest of its kind in India in terms of prescription sales. It specializes in API and Formulation drugs. Cadila Pharmaceuticals Cadila is based at Ahmedabad and is one of the largest privately owned pharma companies. The company operates in at least 90 countries and 45 product segments.