The pharmaceutical industry develops, produces, and markets drugs or pharmaceuticals licensed for use as medications. Pharmaceutical companies are allowed to deal in generic and/or brand medications and medical devices. They are subject to a variety of laws and regulations regarding the patenting, testing and ensuring safety and efficacy and marketing of drugs. The word pharmaceutical comes from the Greek word Pharmakeia. The modern transliteration of Pharmakeia is Pharmacia.
Read more about Pharmaceutical Industry: History, Research and Development, Product Approval in The US, Product Approval Elsewhere, Industry Revenues, Marketing, Developing World, Pharmaceutical Industry in Popular Culture, Industry Associations, Regulatory Authorities
Famous quotes related to pharmaceutical industry:
“From the point of view of the pharmaceutical industry, the AIDS problem has already been solved. After all, we already have a drug which can be sold at the incredible price of $8,000 an annual dose, and which has the added virtue of not diminishing the market by actually curing anyone.”
—Barbara Ehrenreich (b. 1941)