The federal government influences the amount of private spending on R&D through programs (such as Medicare) that increase the demand for prescription drugs, through policies (such as spending for basic research and regulations on what must be demonstrated in clinical trials) that affect the supply of new drugs, and through policies (such as recommendations for vaccines) that affect both supply and demand.The expected cost to develop a new drug-including capital costs and expenditures on drugs that fail to reach the market-has been estimated to range from less than $1 billion to more than $2 billion. The global market for advanced drug delivery systems is estimated to increase from 275.0 billion in 2022 to reach 376.8 billion by 2027, at a compound annual.The expected lifetime global revenues of a new drug depends on the prices that companies expect to charge for the drug in different markets around the world, the volume of sales they anticipate at those prices, and the likelihood the drug-development effort will succeed. The amount of money that drug companies devote to R&D is determined by the amount of revenue they expect to earn from a new drug, the expected cost of developing that drug, and policies that influence the supply of and demand for drugs.
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