Most of today's major pharmaceutical companies were founded in the late 19th and early 20th centuries. Key discoveries of the 1920s and 1930s, such as insulin and penicillin, became mass-manufactured and distributed. Global pharmaceutical market is highly dynamic and is characterized by greater levels of R&D expenditure and extensive regulation of its products. Global pharmaceutical sales are e...

Rising pharmaceutical prices, increasing demand for more effective innovative drugs and growing public outrage have heightened criticism of the pharmaceutical industry. The public debate has focused on drug prices and access. As a consequence, the patent system is being reexamined as an efficient mechanism for encouraging pharmaceutical innovation and drug development. We propose an alternative...

Editor’s Note: Although one in five Americans currently takes at least one psychiatric drug and mental disorders are recognized worldwide, global pharmaceutical industry funding for new, innovative medications is in serious decline despite promising advances in genetics. The author traces the evolution of psychiatric drug development, the reasons for its retreat, and the changes necessary to me...

This paper examines the evolution of the pharmaceutical industry. After a brief discussion of the main stylised facts about the industry, we present a history-friendly model that aims at capturing the underlining mechanisms and the logic that guides the evolution of this industry. Simulation results show the mechanisms and dynamic processes linking the patterns of innovation, demand structure, ...

The authors empirically explore the revenue impact of marketing mix variables and their interactions. The findings include: pharmaceutical direct to consumer advertising (DTC) and detailing (sales force) affect demand synergistically; detailing raises price elasticity; and, detailing has a higher ROI than DTC. Other implications and future research directions are discussed.

BACKGROUND Most European health care systems are suffering from the impact of demographic change. In short, aging of society is leading to higher costs of treatment per capita, while reproduction rates below 2.1 children per woman lead to a reduced number of younger people to provide for the necessary contributions into the health insurance system.This research paper addresses the questions wha...

OBJECTIVE This study aimed to provide an overview of biosimilar policies in 10 EU MSs. Methods: Ten EU MS pharmaceutical markets (Belgium, France, Germany, Greece, Hungary, Italy, Poland, Spain, Sweden, and the UK) were selected. A comprehensive literature review was performed to identify supply-side and demand-side policies in place in the selected countries. Results: Supply-side policies for ...

We propose an integrated supply chain management framework that allows us to explicitly consider the impact of product perishability on a broad scale that includes manufacturers, distribution centers, wholesalers, and demand markets. The framework proposed herein also makes it possible to consider the oligopolistic competition across wholesalers that drives price and demand fluctuations. Furthe...

This paper discusses specific trends in health care financing impacting the demand for health care services, and examines the patient provider relationship from an economic perspective. Patients are paying more outof-pocket for health care likely promoting demand for health care goods and services high in quality and value. When the patient-provider relationship is examined from an agency persp...

Inappropriate request for health care services which are considered to be unnecessary for the patients has long been addressed by several writers. The hypothesis supplier induced demand refers to the induced demand initiated by the supplier who acts in his own economic self-interest rather than patient best interest. The purpose of the present qualitative study was to explore about induced dema...