Pharmaceutical Education and Practice

Pharma Research & Development Companies

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Pharmaceutical R&D conduct the relationship between drug firms, drug costs, and the pace and direction of innovation. Average prices of new drug products have been growing much faster than the rate of inflation, and annual R&D spending has grown faster still. Nevertheless, introductions of inventive new drugs have slowed. At the same time, drug companies have been able to charge high retail cost for new drugs that are only incrementally different from older drugs whose prices have fallen. With consumers paying more for new drugs in the United States than almost any-where else in the world, and with the approach that the drug industry has become less innovative, many observers have wondered whether some kind of policy intervention is warranted.