Hsa 505 Week 3 Assignment 1: Product Development

Product DevelopmentNameInstitutionProduct DevelopmentJustify the purpose of the selected health care establishments’ product(s)/services(s) and their associated life cycle(s)Johnson & Johnson is a world’s leading pharmaceutical and consumer packaged goods company whose products are used worldwide. The company focuses on provision of medical healthcare products for different human health conditions. These products include medical drugs as well as medical equipment for provision of healthcare services. Established in 1886, the company a long history in the pharmaceutical industry. Pharmaceutical industry is highly sensitive and its product development process takes a long process and duration as compared to other non-medical products. Product development for medical drugs at Johnson & Johnson is a long process, which involves extensive research and development to ensure that its products are effective in addressing the health conditions they are produced to address. Firstly, the most important and rigorous press is the product development stagewhich can take up to 20 years before a product can be approved for human consumption and introduced to the market. The product development stage involves research where drugs are passed through a rigorous testing and trials before they can