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¶ … Patent Protection on Clinical Research: The Primary Sources of Innovation in the Drug and Device Development Process
When it comes to biopharmaceutical research, the United States is the best country in the world and it is currently the largest pharmaceutical market. It has invested immensely in research and development, especially in the biopharmaceutical sector, and it holds numerous intellectual property rights for a majority of the drugs developed. According to the U.S. Food and Drug Administration, FDA (2014), all drug companies have to seek the organization's approval before they sell new drugs, and these drugs have to be tested accordingly to guarantee the safety of the public. Adherence to these requirements often makes markets increasingly competitive and in the recent past, the increasing demand for innovation in pharmaceutical companies has necessitated new approaches to be applied in the drug and device development process. This is particularly because pharmaceutical companies have a hard time trying to cut costs and at the same time maintain the quality of new drugs, as well as come up with innovative products. As a result, companies have had to re-examine the methods they apply in the discovery of new drugs, their development, and the marketing of new products, and to evaluate whether their management tactics are still effective in today's society. This text takes a look at the impact some factors, such as patents, have on innovation and discovery in research, and why biotech...
Patents allow them to own these inventions and they can acquire quasi-rents that enable them to recover the money they used in the research and development process, which often acts as an incentive to encourage further research. The impacts of patents on research are contradictory. On one hand, they encourage much needed innovation in clinical research and lead to increased research and development. Further, the motivation they accord the researchers leads to new products being discovered and, hence, improved medical care (Gold et al., 2009). On the other hand Gold and his team claim they have been accused of hindering follow-on research because researchers do not have access to research materials and information, and they also result in high costs for newly discovered drugs.
If there were no patents, researchers would have an easier time accessing patented materials that would be great contributions in the research process, which would lead to the advancement of clinical research. On the part of the innovators, the lack of patents would…
References
Gold, R, E., Kaplan, W., Orbinski, J., Logan, S.H., & Marandi, S.N. (2009). Are Patents Impeding Medical Care and Innovation? PLoS Medicine Vol. (7)1 e1000208. Retrieved 13 March 2015 from http://www.plosmedicine.org/article/fetchObject.action?uri=info:doi/10.1371/journal.pmed.1000208&representation=PDF
The United States Food and Drugs Administration (2014). FDA Basics. About FDA. Retrieved 13 March 2015 from http://www.fda.gov/AboutFDA/Transparency/Basics/ucm194949.htm
Pharmaceutical industries have to operate in an environment that is highly competitive and subject to a wide variety of internal and external constraints. In recent times, there has been an increasing trend to reduce the cost of operation while competing with other companies that manufacture products that treat similar afflictions and ailments. The complexities in drug research and development and regulations have created an industry that is subject to intense
Corporate Social Responsibility in Indian Pharmaceutical Industry An Exploratory Study Outlook of CSR in India History of CSR in India Philanthropy in Indian Society Modern Form of CSR in Indian Society Profile of Indian Pharmaceutical Industry Rationale for Selection CSR Activities by Indian Pharmaceutical Companies Major Influences Over CSR Activities Scope of CSR Activities Comparison of Indian & Western Pharmaceutical Companies This research paper is concerned with the recent practices of Indian pharmaceutical companies in the field of corporate social responsibility. For
14). Soon, Congress passed the Marijuana Tax Act, which was signed into law in 1937. Like the Harrison Act, the Marijuana Tax Act placed marijuana into the same category as the cocaine and opium drugs. It was now illegal to import marijuana into the United States (McWilliams, 1991). However, this law was ineffective in curbing marijuana use (Brecher, 1986, p. 14). By the early 1940s narcotic addiction had significantly reduced
Forgiveness on human health. In its simplest form, the purpose of the study is to evaluate human psychological stress that might constitute a risk factor for heart disease. Further, the study will also evaluate the impact of forgiveness on heart disease. However, such a simple dissertation clearly demands further definition. What, exactly, do we signify when we speak of heart disease? What is properly considered as forgiveness? What impact does
The other considerations weight more heavily. There are likely some cost savings due to economies of scale, although that would be difficult to test for in a product such as Viagra, which has enjoyed strong sales its entire existence, and for which specific production cost data is unavailable. With respect to Viagra, Pfizer is operating in a constant returns to scale environment. The market for Viagra has been slow growing
" (AAFP, nd) The Health Maintenance Organization further should "…negotiate with both public and private payers for adequate reimbursement or direct payment to cover the expenses of interpreter services so that they can establish services without burdening physicians…" and the private industry should be "…engaged by medical organizations, including the AAFP, and patient advocacy groups to consider innovative ways to provide interpreter services to both employees and the medically underserved." (AAFP,