Abstract
The pharmaceutical industry is highly capital-intensive and research-intensive. Firms in this industry depend significantly on the pipeline of new drugs, which secure patents with a potential for high returns and profits on best selling drugs can be substantial. With its extensive R&D of new drugs, the pharmaceutical industry has contributed significantly to improving the length and quality of life (Schweitzer 1997). The pharmaceutical research is a high risk/high reward environment, in which, large MNCs dominate the industry (OECD 2001). Thus, priority-setting by large MNCs determines the direction of pharmaceutical research.
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© 2010 Prabodh Malhotra
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Malhotra, P. (2010). The Global Pharmaceutical Industry and Developing New Drugs. In: Impact of TRIPS in India. Palgrave Macmillan, London. https://doi.org/10.1057/9780230290747_3
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DOI: https://doi.org/10.1057/9780230290747_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-32348-7
Online ISBN: 978-0-230-29074-7
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