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Economics of vaccines. Vaccine development and production is economically complex and prone to market failure. Many of the diseases most demanding a vaccine, including HIV, malaria and tuberculosis, exist principally in poor countries. Pharmaceutical firms and biotechnology companies have little incentive to develop vaccines for these diseases ...
An alternative hypothesis is that the pharmaceutical industry has become cartelized and formed a bureaucratic oligopoly, resulting in reduced innovation and efficiency. As of 2022, approximately 20 Big Pharma companies control the majority of global branded drug sales (on the scale of ±$1 trillion annually).
Healthcare industry. The healthcare industry (also called the medical industry or health economy) is an aggregation and integration of sectors within the economic system that provides goods and services to treat patients with curative, preventive, rehabilitative, and palliative care. It encompasses the creation and commercialization of products ...
The pharmaceutical industry in Nigeria is oligopoly, being a multi-product industry. It is characterized by a combination of Stackelberg equilibrium ...
A drug manufacturer inspection by the US Food and Drug Administration. The pharmaceutical industry is an industry involved in medicine that discovers, develops, produces, and markets pharmaceutical goods for use as drugs that function by being administered to (or self-administered by) patients using such medications with the goal of curing and/or preventing disease (as well as possibly ...
Price discrimination. Price discrimination is a microeconomic pricing strategy where identical or largely similar goods or services are sold at different prices by the same provider in different market segments. [1] [2] [3] Price discrimination is distinguished from product differentiation by the more substantial difference in production cost ...
Sanofi CEO Paul Hudson thinks AI offers 'insane' potential for the pharmaceutical industry, which can spend up to $4 billion developing a drug. Sanofi’s CEO is giving OpenAI access to its data ...
An oligopoly (from Ancient Greek ὀλίγος (olígos) 'few', and πωλέω (pōléō) 'to sell') is a market in which control over an industry lies in the hands of a few large sellers who own a dominant share of the market. Oligopolistic markets have homogenous products, few market participants, and inelastic demand for the products in ...