The pharmaceutical product life cycle refers to the stages that a pharmaceutical product goes through from its development to its withdrawal from the market. This process is crucial for the pharmaceutical industry as it helps companies to plan for the development, production, and marketing of their products.
The first stage of the pharmaceutical product life cycle is the research and development (R&D) phase. This stage involves the identification of a potential drug target, the design and synthesis of a compound that can bind to the target, and the testing of the compound in the laboratory to determine its effectiveness and safety. This phase can take several years and is typically the most expensive and time-consuming part of the product life cycle.
The next stage is the clinical development phase, which involves conducting clinical trials to determine the safety and efficacy of the drug in humans. Clinical trials are conducted in three phases: Phase 1 trials involve a small number of healthy volunteers and are designed to determine the drug's safety profile and dosage range. Phase 2 trials involve a larger group of patients and are designed to evaluate the drug's effectiveness and determine optimal dosage. Phase 3 trials involve an even larger group of patients and are designed to confirm the drug's effectiveness, monitor side effects, and compare the drug to existing treatments.
If the clinical trials are successful, the drug can then be submitted for regulatory approval to the relevant authorities, such as the US Food and Drug Administration (FDA) or the European Medicines Agency (EMA). This process can take several years and requires the submission of extensive data on the drug's safety, efficacy, and manufacturing process.
If the drug is approved, it moves into the commercialization phase, where it is manufactured and marketed to healthcare providers and consumers. This phase can last for several years, depending on the drug's patent protection and market demand.
Eventually, the drug will reach the end of its patent protection and face competition from generic versions. This can lead to a decline in sales and a decrease in the drug's profitability. In some cases, the drug may be withdrawn from the market due to safety concerns or a lack of demand.
In summary, the pharmaceutical product life cycle is a complex and multi-faceted process that involves several stages, from research and development to clinical trials and regulatory approval, before a drug can be commercialized and made available to patients. Understanding the product life cycle is essential for pharmaceutical companies as they plan for the development and marketing of their products.
How Keynesian Economics Came to China, History of Political Economy
Under Obama, Biden served as Vice President. Retrieved 10 September 2015. Chinese city skylines in the economic development zones consist of business district skyscrapers mixed high-rise apartment complexes at least 30 stories high. According to Keynes, classical economics held that swings in employment and economic output create profit opportunities that individuals and entrepreneurs have an incentive to pursue, eventually correcting imbalances in the economy. The worst consequences were temporarily delayed by the impressive growth spurt when some of the worst policies were put aside and personal incentives were permitted to operate. Instead, he argued that, once an economic downturn sets in, for whatever reason, the fear and gloom that it engenders among businesses and investors will tend to become self-fulfilling and can lead to a sustained period of depressed economic activity and unemployment. Retrieved 7 February 2017.
China: A Keynesian Monster • Austrian Economics Center
There are also various signs that foreigners are viewing their presence in China much more critically. With the help of Zhu Rongji's daughter, Zhu Yanlai, we together drafted a document, Sixteen Measures on Green Macro-Control Policy, to mirror Zhu Rongji's famous Sixteen Measures on Green Macro-Control Policy, which is considered the founding document of China's managed combination of planning and market. Chinese city skylines in the economic development zones consist of business district skyscrapers mixed high-rise apartment complexes at least 30 stories high. In the Daily Mail of 13 March 1931, he called the assumption of perfect sectoral labour mobility "nonsense" since it states that a person made unemployed contributes to a reduction in the wage rate until he finds a job. A lower level of inflation and wages would induce employers to make capital investments and employ more people, stimulating employment and restoring Keynes argued that employers will not add employees to produce goods that cannot be sold because demand for their products is weak. Kahn's presentation is more complicated owing to the inclusion of dole and other factors.
Bidenomics: Keynesian Economics in the 21st Century
But — contrary to some critical characterizations of it — Keynesianism does not consist solely of Keynes's ideas influenced The Keynesian advocacy of deficit spending contrasted with the The Keynesian response is that such fiscal policy is appropriate only when unemployment is persistently high, above the Second, as the stimulus occurs, gross domestic product rises—raising the amount of In Keynes's theory, there must be significant Keynesian economists believe that adding to profits and incomes during boom cycles through tax cuts, and removing income and profits from the economy through cuts in spending during downturns, tends to exacerbate the negative effects of the business cycle. Wages and employment, Keynesians argue, are slower to respond to the needs of the market and require government intervention to stay on track. If you are a registered author of this item, you may also want to check the "citations" tab in your For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: EconWPA email available below. In his view, unemployment arises whenever entrepreneurs' incentive to invest fails to keep pace with society's propensity to save propensity is one of Keynes's synonyms for "demand". .
