PSYC 181 Study Guide - Midterm Guide: Pharmaceutical Industry, Duloxetine, Quetiapine
Document Summary
Legal drug manufacturing in the world: over 30,000 preparations of drugs on the market in the us, johnson and johnson is top drug company, but not by a huge margin. Phar(cid:373)a(cid:272)euti(cid:272)als are(cid:374)"t (cid:373)o(cid:374)opolies a(cid:374)d ra(cid:374)ki(cid:374)gs te(cid:374)d to change: typical profit margin of pharmaceutical company is 3x that of any other fortune industry for every year since 1982, pharmaceutical industry has highest profit margin. 1982, one drug company created gmo corn which got out and lost money rivals: banks: pharm companies invest most in applied research; government funds for mostly basic research. Spend most on research and development compared to other businesses. Spend most on scientists compared to other businesses: top prescribed drugs in us. Valium: pharmaceutical companies spend more on marketing research than drug research, very costly to develop one new approved drug. Most drugs do(cid:374)"t (cid:373)ake it to the (cid:373)arket. Many drugs currently in development for cancer, cardiovascular disease, diabetes,
