The Health Welfare Of Patients

973 Words Aug 6th, 2015 4 Pages
The pharmaceuticalceutical industry has advanced since the early 1900 but continues to face challenges of development, cost of research/development, testing, FDA approval, marketing, distribution and access; however it has played a major role in the health welfare of patients. Due to the advancement in the pharmaceutical industry there has been a 40 percent of the 2 year gain achieved in life expectancy, however the discovery phase requires thousands of scientist, engineers and physicians to research the disease, its components, develop the medicine and carefully/methodically to establish the benefits and risks (Williams & Torrens, 2008). However, during the 1990 the USA was leading in pharmaceutical R&D due to the teams of engineers, biologist, chemists and physicists that spend long hours determining how to mass produce a medicine and studying the side effects to discover an unacceptable side effects (Williams & Torrens, 2008). The process of development of new pharmaceutical once cost $2 billion in 1980 grew to $18 billion by 1997 and only 5 out of 5,000 compounds make it to human clinical trials (Ely, Simki & Thomas, 2003). Furthermore, in 2007 pharmaceutical companies spent $33 billion (a 7% increase over the previous year) and the average time from research to treatment approved by FDA can take 10-15 years (Williams & Torrens, 2008). FDA requires the pharmaceutical to follow elaborate procedures (preclinical safety assessment, preapproval of safety assessment in…
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