Nobody downloaded yet

Economic Analysis of Patented Drugs vs. Generic Drugs - Research Paper Example

Comments (0) Cite this document
Summary
Drugs frequently have several terms. When a new drug is first researched, it is provided a chemical term, which explains the molecular configuration of that drug. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94% of users find it useful
Economic Analysis of Patented Drugs vs. Generic Drugs
Read TextPreview

Extract of sample
"Economic Analysis of Patented Drugs vs. Generic Drugs"

Download file to see previous pages As for example, phenytoin which is the common name and Dilantin is the business name for a single drug. When one drug is in rights security, the company sells it with its business name. When a drug is out of the patent protection (no longer protected by patent), the company may sell the products under whichever name they want common name or business name. Other companies which file for authorization to sell that off-patent drug have to use the similar common name but have the freedom to use their own trade name. This results in drugs to be sold in the same generic name but multiple trade names. (Aronsson et al. 2001) General drugs are remedies that are known by the chemical formulae instead of their brand, or business name. Most of the people, as for example, know the brand title Valium, however the common name of the anxiety defiant drug is diazepam. (Mehta & Mehta, 1997) In the most cases, most drugs are likewise as efficient as brand-name remedies. They too are typically lesser expensive than the brand names, frequently as a great deal as 50 % or more. What is the reason behind this? (Mehta & Mehta, 1997; Aronsson et al. Pharmaceutical industries spend a lot of time (usually a decade or more) and cash—generally more money than $300 million—to research, develop, produce, and marketing a brand new drug. Which results in, if the efforts become positive, the brand-name drug which is patented plus sold solely under a particular business name for seventeen years, which permits the industry get back more money than it invested. As a patent runs out, or there is not any patent at all, other industries can produce and market that drug with the drug’s common name or with other brand names. ...
As a patent runs out, or there is not any patent at all, other industries can produce and market that drug with the drug’s common name or with other brand names. Other industries don’t need to invest the time and wealth to get the actual drug to the market. Therefore, they can sell the drug at a lower cost. (Mehta & Mehta, 1997; Aronsson et al., 2001) Economic analysis of patent protection versus generic drugs: The limit of the patent security in helping the mechanisms for making novel remedies not supposed to be minimized. To get a fresh prescription remedy in the market, industries of pharmaceutics must beat several obstacles including large investments for researching and development (R&D), authoritarian scrutiny very importantly scientific trustworthiness corresponding the protection and effectiveness of that fresh drug. To attain this, companies continuously search for fresh compounds having medicinal power. When a brand new, hopeful substance is found, the industry files a request for patent security while it goes through different levels of Research and Development. Current estimations of the expense of developing a fresh drug is ranged between $230 million and $500 million prior to the remedy can be marketed. (Mehta & Mehta, 1997) Getting patent security for a particular remedy, the industry has the power to set the price as per wish; without contest, no descending pressure is there upon the price from different probable drug providers. The monopoly supremacy gained from that patent protection gives inducement for drug industries to put in a big capital needed for Research and Development by permitting them in earning much more than the possible result in more contesting market. With no ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Economic Analysis of Patented Drugs vs. Generic Drugs Research Paper”, n.d.)
Retrieved from https://studentshare.org/family-consumer-science/1422642-economic-analysis-of-patented-drugs-vs-generic
(Economic Analysis of Patented Drugs Vs. Generic Drugs Research Paper)
https://studentshare.org/family-consumer-science/1422642-economic-analysis-of-patented-drugs-vs-generic.
“Economic Analysis of Patented Drugs Vs. Generic Drugs Research Paper”, n.d. https://studentshare.org/family-consumer-science/1422642-economic-analysis-of-patented-drugs-vs-generic.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Legalizing drugs
...legalization also warrant for a detailed review of current legislation. References Boaz, David. (1990). The Consequences of Prohibition. In The Crises of Drug Prohibition. Washington, D.C.: Cato Institute. Cussen, Meaghan and Block, Walter. Legalize Drugs Now! An Analysis of the Benefits of Legalized Drugs. American Journal of Economics and Sociology 59.3 (2000):525-536. Print Easton, Mark. Could We Save Billions by Legalising Drugs? BBC. 7th April 2009. Available at www.bbc.co.uk/blogs/thereporters/markeaston/2009/04/heroin_and_cocaine_cost_britai.html Micklethwait, Brian. (1994). Why Drugs Should Be Legalised....
4 Pages(1000 words)Essay
Prescription Drugs
...and future years. Drug development costs for innovative drugs will continue to rise, however, due to a number of patent expiries and higher penetration of generics medicines will balance the overall increase in such costs. The prices of mature drugs would fall in the future due to generic entries and price reviews by federal and state governments whereas prices of new innovative medicines will be high and will negatively affect drug expenditures. What are the projected effects on national health expenditures of adding a prescription drug benefit to Medicare's coverage? In January 2006, the U.S....
3 Pages(750 words)Term Paper
Drugs and War on Drugs
...The purpose of this essay is to discuss the history as well as analyze the effectiveness of controversial war on drugs. Various methods tosuccessfully fight this global issue have also been discussed here. Efficiently confronting the drug problem involves both preventing the issue from arising through drug eradication and military involvement, as well as by providing remedial solution to the problem through different methods of treatment. A study on drug trade shows the role played by colonization in the growth of international opium and cocaine trades and the essay analyzes this. Furthermore, an analysis of the ways in which conflict and wars play an...
10 Pages(2500 words)Essay
U.S. governments generic drugs policy
... 4 Methodology .7 Conclusion 9 References 10 Introduction This proposal sets the outline for studying the impact of the U.S. Government's generic drugs policy, how it affects the pharmaceutical industry and how the companies should address the situation in order to stay competitive and continue to meet the dynamic and ever growing health care needs. The situation is alarming as many drugs will go off-patent with the result, the pioneering pharmaceutical companies will be pitted against the rest of the world in surviving the competition from generic drugs market unless they continue to innovate and invent newer drugs for existing and new diseases. This study will identify the interplay of economic theories... ...
4 Pages(1000 words)Essay
Drugs
...Drugs Should drugs be legal or illegal It is hard to determine a stand for the topic, as this is a highly controversial topic. Drugs can have both negative and positive effects. I personally take a stand to make drugs legal on the issue, and my thinking goes to reflect the stand made by United States which is captured in this statement ""United States was the creation of men who believed that each man has the right to do what he wants with his own life as long as he does not interfere with his neighbor's pursuit of happiness" (Vidal 385). I totally agree with this view, which guarantees that a person can act and think with freedom until it interferes with someone else's...
2 Pages(500 words)Essay
Drugs
...Running Head: Drug Abuse Theories Drug Abuse Theories of Drug Abuse Theories Introduction Drug abuse remains themost important problem facing adults and teenagers in the United States of America. Most crimes are committed when the criminal in under the influence of drugs or needs funds for drugs. Drug abuse remains the most important problem facing adults and teenagers in the United States of America. Research has found that the majority of Americans have tried an illicit drug before graduating from high school. Drug abuse remains a major problem as it is directly linked to crime....
2 Pages(500 words)Essay
Pharmaceutical Drugs Brand Name or Generic
..., the following table from CareFirst (accessed 01/24/10), compares prices of various brand name drugs with their generic counterparts: Brand vs. Generic Costs This list represents the most requested prescription drugs and their average costs in 2006. Brand Name Generic Alternative Average Month's Supply Brand Average Cost (Month's Supply) Generic Average Cost (Month's Supply) Cost Difference Allegra FEXOFENADINE HCL 30 $76.96 $61.66 $15.30 Celexa CITALOPRAM HBR 30 $101.21 $31.31 $69.90 Desyrel TRAZODONE HCL 30 $107.27 $6.62 $100.65 Diabeta GLYBURIDE 60 $28.65 $13.83 $14.82 Glucophage METFORMIN...
9 Pages(2250 words)Research Paper
Drugs
...The Controversy Over Marijuana The use of drugs in society has been documented back to ancient times. Sometimes, the uses of drugs were used for recreation and in others it served a spiritual purpose such as being able to communicate with the deities of their religion. In these times, these drugs were developed from that of natural derivatives such as flora and fungi. As human society progressed and gained a more scientific understanding of how drugs affect our body, we were able to learn how to synthesize synthetic versions of the drug. Some of these were deemed for medicinal purposes, but soon other parts of the population began synthesizing...
6 Pages(1500 words)Research Paper
Drugs
.... The Direct Effect Principle. The principle of direct effect is the foundation of community law. It is through this principle that the European Treaties, which were signed by the European Nations leaders as opposed to being of no relevance, or just political statements, grant effective obligations and rights that permeate every area of life to ordinary people to be enforced in their member state courts, just like their own national laws. The direct effect principal is not found in the EC treaty. However, it has been founded and developed by the ECJ in various judgements. This principal is the reason Bob and Martin can e assisted by the European Union law in each of these cases. According to the Van Gend en Loos...
8 Pages(2000 words)Essay
Drugs
...Drugs Drugs Chapter is generally an overview about drugs. The chapter covers principles related to drug use. On the principles, the chapter addresses the user history on drugs and the perception the user might have concerning the drugs. On the other hand, there is coverage on important terms related to the topic. In the chapter, there is also coverage on the history of drug and use. The section shows reasons in the past for the drug use. The chapter also addresses the challenges that exist in determining the extent of drug use. One of the reasons stated is because most of the drug is consumed illegally. In addition, there is the focus on the population and trends of drug use. The trend is commonly established from students... as the...
1 Pages(250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Research Paper on topic Economic Analysis of Patented Drugs vs. Generic Drugs for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us