Bringing a new Pharmaceutical to Market
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Bringing a new Pharmaceutical to Market3 Instructions: • Bringing a new Pharmaceutical to Market Write a 3+ page, double-spaced essay: Bringing Pharmaceuticals to Market. 1. What does it take to bring a new medication to the market? 2. Should pharmaceutical companies have patents on their drugs? Why or why not? 3. How can pharmaceutical companies recoup the costs associated with failed drugs? 4. Explain examples of successful and unsuccessful pharmaceutical medications. o What happened with the unsuccessful ones? o Why were the successful ones successful? Write in APA format with complete paragraphs (4-8 sentences each). • Include an introduction, body and conclusion. • Cite consistently throughout your work in APA format. • Paraphrase rather than directly quote citations. • Write in third person. Include a title and reference page. Tidd, J. and Bessant, J. (2013). Managing Innovation : Integrating Technological, Market and Organizational Change, 5th Ed. Hoboken, NJ: Wiley & Sons. ISBN: 9781118360637 Read • Chapter 11
Content: Bringing a New Pharmaceutical to the Market Name Class Professor Bringing a New Pharmaceutical to the Market As the world market is experiencing various changes in different sectors, stiff competition in the pharmaceutical industry is becoming the order of the day, with different companies trying to outdo others in the quest to dominate the market (Tidd & Bessant, 2013). Scientists spend a lot of time doing research on how to find causes, cure, or vaccines to various diseases. It takes a lot of time, procedures, and experiments to come up with drugs that are allowed into the market. Once a drug passes through all the required steps it is approved and can be introduced into the market. However, there has been the discussion of whether pharmaceutical companies should have patents on their drugs citing the fact that such companies incur huge costs to research and develop the drugs. In this view, this paper seeks to analyze what it takes to bring a new medication to the market, besides focusing on the issue of ...
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