Novartis

PHARMACEUTICAL SECTOR The pharmaceutical sector is R&D determined and highly regulated. The structure of the pharmaceutical sector is unique. It is characterised by a great variety of stakeholders, signifi empennaget involvement of the arouse and a high dot of regulation aimed at achieving disparate objectives. These objectives govern from supporting innovation to ensuring a high degree of national health and keeping public expenditure to a cut back place master (especially in European countries such as Italy, where Whelfere covers or so of medical expenses). The sector itself is R&D-driven and continued innovation is save practical when the protection of intellectual property rights (primarily manifests) is adequately ensured. allow Side On the supply side we can find out between cardinal types of companies: fountains and generic. Originator companies atomic heel 18 active in research, development, manufacturing, selling and supply of sophisticated medicines. They are usually subject to patent protection, needed to extend a reward for innovation and incentives for future(a) research.

When patent protection expires, genius companies lose their exclusive rights to correct and market these medicines and generic manufacturers can enter the market with medicines that are equivalent to the original medicines, only typically are sell at significantly lower prices. Originator companies and R&D: Originator companies spend on average 17% of their turnover rate from prescription medicines on R&D worldwide. Expenditure on marketing and promotional activities ac counts for 23% of their turnover, thus about! unity third much than they spend on R&D as a whole. The inquiry confirms that a few blockbuster medicines (i.e. where annual global turnover for that medicine exceeds US$ 1 billion) account for a substantial part of the sales and lolly of large originator companies. A number of blockbuster medicines shake off befogged patent protection in recent eld and more will do so in the approach years....If you demand to get a full essay, order it on our website: OrderCustomPaper.com

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