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Module outline and aims
The pharmaceutical industry is recognised as a dynamic and enterprising business sector generating high-quality employment and contributing to economic output. It includes an extensive and diverse group of companies. These range in size from small start-up firms to multi-national pharmaceutical corporations. Production methods include traditional pharmaceuticals manufactured through chemical synthesis and biopharmaceuticals manufactured in living organisms. Depending on size and strategy pharmaceutical companies may conduct extensive research in-house or license promising medical discoveries, often from smaller companies.
In addition to creating safe and effective products, pharma companies need to develop medications with superior results to those already on the market and demonstrate their added value to a range of stakeholders to justify prices higher than existing treatments. These tasks are complicated by the dynamics of power among industry stakeholders, each of which may require different evidence to be convinced of a product’s value.
The module brings together multiple perspectives from the pharmaceutical industry, public sectors, health policy and regulation, governments and economic development.
The content explores the global pharmaceutical sector from the perspectives of major stakeholders. It includes: