PSYC 181 Lecture Notes - Lecture 3: Theobroma Cacao, Ibuprofen, Biotransformation
Document Summary
Most is johnson and johnson, which is not exclusively a pharm company: since 1962, pharm industry has had highest profit margin of any industry- 42, drugs are different than other commodities. 40% of world total ( billion), but u. s. is only 5% of world population. Rest of the world is catching up. Next closest country is japan: nih spends billion for research (mostly basic research) and pharm companies spent billion (mostly applied research, top selling drugs are name-brand drugs. Antidepressants are most prescribed (about 1 in 3 people) Top prescribed drugs do not always make the most money (they are usually cheap) Xanax (antianxiety) is top prescribed psychiatric drug. Next is cymbalta: a lot of money spent on research, but much more is spent on marketing and administration. All have small shares compare to car companies: top companies control half the market four-firm ratio- take top 4 firms and add up concentration ratios.
