Over the past 20+ years, drug productivity from R&D pharmaceutical pipelines has been on the decline. Spending on R&D by the pharmaceutical industry has been on the decline since 2008 though biotech has increased to make up for this decline. The US-based pharmaceutical industry is shedding a significant number of well-paying jobs, with many talented people leaving the industry altogether. Furthermore, U.S. public health policy has been increasingly hostile against the industry as seen in proposed and enacted legislation. Almost 85% of dispensed prescriptions in the U.S. are now generics, with public policy and managed care plans aggressively pushing generic drugs. Drug shortages are being increasingly faced by patients with life-threatening conditions, reaching an alarming level never before seen by hospitals and physicians. As 75% of the world’s growth in the global pharmaceutical market is happening outside the U.S. and other developed markets placing the U.S. industry at risk. This module will report on current industry trends and propose how this vital industry to our national well-being will address these trends at perhaps its most critical juncture in history.
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