British pharmaceuticals: a cautionary tale

Julie Froud, C. Haslam, S. Johal, Karel Williams, R. Willis

Research output: Contribution to journalArticlepeer-review


British pharmaceuticals is generally represented as a successful sector which illustrates the potential of knowledge-intensive, high-value-added activities. this article presents a revisionist account based on evidence and argument. Pharmaceuticals is a small sector which combines high-value-added and average wages to benefit capital not labour. the knowledgebase in the laboratory creates imitative product with marketing then applied to capture social expenditure. when product-market growth slows, the sector restructures defensively without solving its problems.
Original languageEnglish
Pages (from-to)554-584
Number of pages30
JournalEconomy and Society
Issue number4
Publication statusPublished - Nov 1998


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