The Economic Aspects Of The Pharmaceutical Industry In The United States

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Get a comprehensive explanation of the key economic concepts on how the pharmaceutical market functions The pharmaceutical industry has come under intense public scrutiny for the perception of product prices being too high and for concerns about research and development spending. Pharmaceutical Economics and Public Policy carefully explains the fundamentals of pharmaceutical economics while examining spending, costs, rates of return, and policies affecting the industry. This text provides a comprehensive economic analysis of the most important dimensions of the pharmaceutical market with easy-to-understand analysis of the implications of public policy. Key economic concepts necessary for understanding how the pharmaceutical market functions are clearly explained in detail. Though it is a manufacturing industry, the pharmaceutical industry has several economic aspects that make it fundamentally different from any other. Pharmaceutical Economics and Public Policy takes these sometimes confusing and difficult economic aspects within this unique industry and makes them understandable. The book is carefully referenced and includes numerous figures and tables to clearly present data. Topics in Pharmaceutical Economics and Public Policy include: policymaking—self-interest vs. public interest a pharmaceutical market overview empirical data on cost effectiveness of pharmaceutical use the economics and politics of the regulatory process the economics of patent policies pharmaceutical cost structure why price discrimination occurs in patented pharmaceuticals governmental price controls R&D expenditures sales and marketing expenditures rates of profitability in the pharmaceutical industry mergers and acquisitions and the connection to higher risk levels the future of the pharmaceutical industry Pharmaceutical Economics and Public Policy is an invaluable resource for educators, graduate students, policymakers, legislators, policy analysts, government agencies, and trade associations involved with pharmaceuticals.

Americans praise medical technology for saving lives and improving health. Yet, new technology is often cited as a key factor in skyrocketing medical costs. This volume, second in the Medical Innovation at the Crossroads series, examines how economic incentives for innovation are changing and what that means for the future of health care. Up-to-date with a wide variety of examples and case studies, this book explores how payment, patent, and regulatory policiesâ€"as well as the involvement of numerous government agenciesâ€"affect the introduction and use of new pharmaceuticals, medical devices, and surgical procedures. The volume also includes detailed comparisons of policies and patterns of technological innovation in Western Europe and Japan. This fact-filled and practical book will be of interest to economists, policymakers, health administrators, health care practitioners, and the concerned public.

The pharmaceutical industry -- The biotechnology industry -- Generics and biosimilars -- The global pharmaceutical industry -- The demand for pharmaceuticals -- The demand for pharmaceuticals in major international markets -- Pharmaceutical prices -- Economic evaluation of new drugs -- Pricing pharmaceuticals in a world environment -- Pharmaceutical marketing -- Patent protection -- Drug approval process in the United States -- Pharmaceutical regulation in the European Union -- Pharmaceuticals and public policy : a look ahead

Liability effects on the economic performance of the pharmaceutical industry play a prominent role in the debate about the economic effects of product liability in the United States. The author analyzes incentive effects on company decisions, implications for economic outcomes such as drug safety and effectiveness, and suggests how public policy changes could mitigate liability-based sources of inefficient decisions of pharmaceutical companies.

Examine the global pharmaceutical industry and the effect of national, regulatory, economic, and market environments on the competitiveness of the industry! This unique book is the only empirical study that examines the effects of the national environment on the competitiveness of a country's pharmaceutical industry. This informative book explores such topics as the types of comparative advantages that firms use for developing competitive advantages and what strategic choices firms should make when collaborating with international firms. Public policy implications with respect to the economic environment are also discussed to give you a complete look at the international pharmaceutical industry. Global Competitiveness in the Pharmaceutical Industry recognizes pharmaceutical industries as being of great social and public importance to all countries, since so many life saving drugs have emerged from pharmaceutical laboratories over the past four decades. By helping to combat many fatal diseases and eradicate others, drug producers have helped to positively alter mortality patterns in many parts of the world, thus making companies compete to provide many important medicines. The unique research presented in this book examines the determinants of global competitive advantage in the pharmaceutical industry by answering such questions as: Which factors stimulate or inhibit a nation's pharmaceutical industry to be globally innovative? Which factors stimulate or inhibit diffusion of pharmaceutical innovations (NECs) into its markets? Are there differences between industrialized and developing countries with respect to factors that affect innovation and global competitiveness in the pharmaceutical industry? Global Competitiveness in the Pharmaceutical Industry makes several theoretical, empirical, and methodological contributions which lead to results and generate important managerial and public policy implications. You will find a comprehensive overview of the nature of global competition in the pharmaceutical industry and its evolution in the post World War II period. Global Competitiveness in the Pharmaceutical Industry provides you with an in-depth understanding of the dynamics and importance of the global pharmaceutical market.