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
Scientists and pharmaceutical companies alike are finally nearing the ending stages of preparing a vaccine for COVID-19 for commercial use. With at least 10 vaccine candidates currently in the early phases of human testing and two candidates likely to receive FDA authorization in the coming weeks, governments and citizens worldwide are eager to begin the end of the ongoing pandemic.
The pharmaceutical industry is defined as the discovery, development, and manufacture of drugs and medications. It’s widespread, including research, chemicals, and the regulation and involvement of government agencies. However, the characteristics of the pharmaceutical industry differ by region. Today, we’ll look at the key aspects of this sprawling industry in Europe, Africa, Latin America, and the United States.
- SelectUSA (Date Accessed: 6/1/2017)