The generic segment produces copies of innovative pharmaceuticals with the same active ingredient, strength, dosage form, and route of administration.
Biopharmaceuticals are pharmaceuticals that are biological, or cell-based drugs.
Innovative pharmaceuticals are chemically-derived drugs developed following extensive R&D efforts in terms of clinical trials in both humans and animals.
The Pharmaceuticals industry is Highly Concentrated. The production in this industry is dominated by a small amount of large firms that are able to shape the industry’s direction and price levels.
Primary Demand Drivers
- Desire to cure illness and disease
- Ability to discover and market new drugs
- Evolving medical and pharmaceutical technologies
From the Blog
In China, many business owners are excited for a new year with no restrictions as China has lifted the Zero COVID-19 Policy. On December 7th, 2022, China put an end to this policy. The critical question is what this means for China’s economy for the coming years and the effect on the supply chain. The world is connected through China-centric supply chains, and any ‘delay’ in those chains causes global production and the world economy trouble. The abrupt move away from the Zero COVID policy could mean that China may begin focusing once again on economic growth. However, China is now facing new supply chain issues and a wave of COVID-19 sweeping through the country, impacting the growth of these newly opened supply chains.
Pfizer-BioNTech, the American-German paired company, has been the leading company for providing a COVID-19 vaccine. The FDA (Food and Drug Administration) granted Emergency Use Authorization in early December of 2020. Pfizer-BioNTech was later given emergency validation by the World Health Organization. As of August 23, 2021, Pfizer-BioNTech is the first vaccine to be FDA approved, meaning they have met the rigorous standards of the FDA. This is a significant milestone for Pfizer-BioNTech. While many have already been vaccinated, there is now additional confidence in the vaccine.
- SelectUSA (Date Accessed: 6/1/2017)