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The Funding of Biopharmaceutical Research and Development by D. R. Williams

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1

Introduction to the biopharmaceutical market

Abstract:

This chapter introduces the reader to the biopharmaceutical market sector. It discusses the history of the biopharmaceutical market and its reliance on research and development. The demand function and pricing of drugs are discussed, as well as the approval process for innovative and generic medicines in the U.S. and abroad. This is viewed within the perspectives of the healthcare and biopharmaceutical value chains.

Key words

funding process

research and development

authorization process

value chain

demand

pricing

1.1 Introduction

Funding is one of the critical inputs in the research and development process of biopharmaceuticals.1 For most projects and firms, funding represents a ...

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