Pharmaceutical Drug Development, Patents, and Business
Medical research and pharmaceutical drug development are closely related. New medicinal products aim to ease the burden of different diseases. The development of new, innovative drugs takes 10-15 years, with several clinical trials conducted in an effort to prove therapeutic efficacy.
The development of a generic drug takes 3-5 years, with different regulatory requirements compared to the innovative drug. Upon expiration of the patents related to an innovative drug, new generic drugs may be marketed, increasing competition, decreasing prices of the innovative drug product, and easing the financial burden on any national health system.