A prescription drug is that pharmaceutical medication that requires a medical prescription before use. There are many processes involved when introducing a new prescription drug. The process usually begins when a lead compound is identified. Various factors determine the research and development costs for innovative new prescription drugs. The research process includes the pre-clinic research on different microorganisms and animals, clinic trials, and finally getting the approval to sell the drug to people.
Industry Overview The pharmaceutical industry is of great importance to many economists as it is highly competitive. In the recent years, the industry has been brought ...