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Estimated expenditure on development of a new drug is near one billion dollars. What's in store for us?

Created by : Vishal Agarwal, Product/Brand Manager, Dr Reddy Labs  | 09 04 2008 22:32:49 +0000
Industry : PharmaceuticalsFunctional Area : Innovation(Strategy & Execution)
Keywords : Development Us One What's Dollars Drug Store Billion Near Expenditure Estimated
Activity:  263 views;  last activity : 07 06 2010 20:18:09 +0000
Does this price tag lead to slow development process of life saving drugs and those which come up are they in reach of general people esp. those who stay in developing countries and needs more of such initiatives.
  
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Initially you have to pay Vs Go for differential pricing
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Initially you have to pay for these medicines. The problem here is that it requires a lot of tests and this make the process slow and more costly, but you can't give an insecure medicine to a living human, so it is a must. We have to bear with it.
By Vishal Agarwal, Product/Brand Manager, Dr Reddy Labs  | 09 04 2008 22:32:49 +0000
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Well I am not against the time it takes because you have to be sure first that the medicine is safe for human use, but when it comes to pricing, I think differential pricing is a good option, because in that manner you can get back your investment and also help the poorer sections of the society.
By Ajoy Mondal, Product/Brand Manager, Ranbaxy Labs  | 09 04 2008 22:34:57 +0000
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very Interesting article sachin..thanks for the post
Does this price tag lead to slow development process of life saving drugs and those which come up are they in reach of general people esp. those who stay in developing countries and needs more of such initiatives.
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