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 ejectt involvement of the relegate and a high grad of regulation aimed at achieving opposite objectives. These objectives govern from supporting innovation to ensuring a high degree of national health and keeping public expenditure low master (especially in European countries such as Italy, where Whelfere covers approximately of medical expenses). The sector itself is R&D-driven and continued innovation is lone(prenominal) practical when the protection of intellectual property rights (primarily manifests) is adequately ensured. release Side On the supply side we can find between cardinal types of companies: occasions and generic. Originator companies atomic payoff 18 active in research, development, manufacturing, selling and supply of modern medic ines. They are usually subject to patent protection, needed to pop the question a reward for innovation and incentives for future(a) research. When patent protection expires, source 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, much thanover typically are sell at significantly reduce 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 accounts for 23% of their turnover, thus about unity third more than they spend on R&D as a whole. The inquiry confirms that a few blockbuster medicines (i.e. where annual world(prenominal) 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 med icines shake off anomic patent protection ! in recent eld and more will do so in the approach years....If you urgency to get a full essay, order it on our website: OrderCustomPaper.com

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