Unlike many researches that study performance differences only among strategic groups to verify the implications on firms results due to their strategic positioning, this study aims to examine such differences not only among, but also within strategic groups in order to answer the same question. Using a database that contains information about the Brazilian pharmaceutical industry from 1999 to 2002, this research employs Miller and Dess study about typologies as a base to identify existing groups and their relevant strategies in this industrial sector, and to relate the competitive positioning of firms to their achieved performance. Obtained results suggest that the best performances belong to foreign giant laboratories that produce branded drugs and that simultaneously utilize low cost and differentiation strategies with a broad market orientation. Furthermore, the aforementioned attained results show strong indicia that Miller and Dess typology describes strategic positioning of firms within the Brazilian pharmaceutical industry better than Porter s typology does. Finally, this study suggests that no company has competitive advantage because of its positioning as a core, secondary or solitary firm within the strategic groups of this industry.