The Global Pharmaceutical Industry and Developing New Drugs

Prabodh Malhotra

Chapter 3 in Impact of TRIPS in India, 2010, pp 32-53 from Palgrave Macmillan

Abstract: Abstract The pharmaceutical industry is highly capital-intensive and research-intensive. Firms in this industry depend significantly on the pipeline of new drugs, which secure patents with a potential for high returns and profits on best selling drugs can be substantial. With its extensive R&D of new drugs, the pharmaceutical industry has contributed significantly to improving the length and quality of life (Schweitzer 1997). The pharmaceutical research is a high risk/high reward environment, in which, large MNCs dominate the industry (OECD 2001). Thus, priority-setting by large MNCs determines the direction of pharmaceutical research.

Keywords: Global Force; Patent Expiry; Pharmaceutical Sale; Approval Time; Blockbuster Drug (search for similar items in EconPapers)
Date: 2010
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DOI: 10.1057/9780230290747_3

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