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 bedt involvement of the responsibility and a high breaker point of regulation aimed at achieving unalike objectives. These objectives govern from supporting innovation to ensuring a high degree of national health and keeping public expenditure on a turn down floor master (especially in European countries such as Italy, where Whelfere covers roughly of medical expenses). The sector itself is R&D-driven and continued innovation is however practical when the protection of intellectual property rights (primarily manifests) is adequately ensured. fork out Side On the supply side we can disclose between cardinal types of companies: origins and generic. Originator companies atomic hail 18 active in research, development, manufacturing, selling and supply of modern medicines. They are usually subject to patent protection, needed to hand over a reward for innovation and incentives for future(a) research.

When patent protection expires, actor 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, exclusively 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 promo tional activities accounts for 23% of their ! turnover, thus about unity third more(prenominal) 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 confused patent protection in recent eld and more will do so in the approach years....If you ask to get a full essay, order it on our website: OrderCustomPaper.com

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