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 erectt involvement of the landed estate and a high stratum 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 down the stairs master (especially in European countries such as Italy, where Whelfere covers close to of medical expenses). The sector itself is R&D-driven and continued innovation is single practical when the protection of intellectual property rights (primarily manifests) is adequately ensured. preparation Side On the supply side we can evidence between cardinal types of companies: authors and generic. Originator companies atomic image 18 active in research, development, manufacturing, selling and supply of r ipe medicines. They are usually subject to patent protection, needed to add a reward for innovation and incentives for future(a) research.

When patent protection expires, power 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, solely typically are sell at significantly raze 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 a ccounts for 23% of their turnover, thus abou! t 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 ball-shaped 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 garbled patent protection in recent eld and more will do so in the approach years....If you fate to get a full essay, order it on our website: OrderCustomPaper.com

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