New Approach to the R&D and the Consequences on Drug Pricing

 

Clinical Imaging and Case Reports

New Approach to the R&D and the Consequences on Drug Pricing
Rubin Zareski

Institute of pharmaceutical chemistry, North Macedonia

Correspondence to Author: Rubin Zareski
Abstract:
The absence or inconsistent implementation of structural changes in the main world economies has had an impact on the achievement of sustainable economic stability and growth over the past 15 years. Pharma industries have been forced to move and/or reduce expenses in all horizontal areas of business, including R&D spending, as a result of negative or zero growth trends in the country’s GDP. A new economic paradigm known as the “Circular and resource efficiency” economy is developing in line with these tendencies. The cornerstones of this new development model, optimization, sustainability, long-term efficiency, and personalization, are increasingly being recognised. The pharmaceutical industry is a crucial component of these organised developments. The demand on regulators, funds, payers, and patients to quickly respond to these new, emergent needs is mounting. outdated terms and Models for pricing methodology, ongoing “battles” between government monopsony, payer pressure on prices, and pharmaceutical corporations’ investments in R&D to secure a new patented drug and long-term financial viability are all contributing to an unsustainable end result of a lose-lose game. Just at first glance does this price cut appear to be in the patients’ best interests, but the numbers show that in the medium and long terms, they stand to lose the most. The pharmaceutical industry exists in the eyes of patients and other stakeholders to find novel medications that typically end up becoming conventional treatments. That goal is under jeopardy due to the declining R&D productivity economy: R&D spending is not paying off. There must be balance. So, a “vicious circle” is being created where no single actor (in terms of an institution) is willing to question the process by making a strategic move.
Citation:

Rubin Zareski. New Approach to the R&D and the Consequences on Drug Pricing. Clinical Imaging and Case Reports 2023.