Knowra Pharmaceutical industry Pharmaceutical industry The economic sector that discovers, develops, manufactures, and markets medicines for human and veterinary use. It spans research, clinical testing, production, regulation, and sales.
Drug discovery : The process of identifying and refining candidate substances that may prevent or treat disease. It begins the industry's search for medicines with useful biological effects.
Pharmaceutical drug : A substance or combination of substances used to prevent, diagnose, or treat disease. Medicines are the products around which the industry's research and commerce are organized.
Generic drug : A medicine equivalent to an approved brand-name drug, marketed after relevant exclusivities expire or are overcome. Generic manufacturers compete with established products, often at lower prices.
Biotechnology industry : An economic sector that commercializes products and processes derived from biological systems. Its overlap with pharmaceuticals is large, but biotechnology spans many non-medicine markets.
Drug pricing : The setting and negotiation of prices for medicines across manufacturers, payers, and markets. Pricing affects what health systems and patients pay for industry products.
Preclinical development : Laboratory and animal studies that assess a drug candidate's effects and risks before human trials. Companies use it to decide whether a candidate is ready for clinical testing.
Drug development : The process of turning a therapeutic idea into a medicine tested, authorized, and prepared for use. It connects discovery, trials, regulatory review, and production across the sector.
Biosimilar : A biological medicine highly similar to an already approved reference biologic, with no clinically meaningful differences. Biosimilars extend competition to complex medicines made from living systems.
Contract research organization : A company that provides outsourced research services to pharmaceutical, biotechnology, or medical-device sponsors. Sponsors can delegate clinical and research work rather than perform it in-house.
Access to medicines : The ability of people to obtain needed, safe, effective, and affordable medicines. Availability and affordability determine whether products reach the people who need them.
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