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Policy Planning to Support Technological Innovation in the Pharmaceutical Industry

Policy Planning to Support Technological Innovation in the Pharmaceutical Industry
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Author(s): Leong Chan (Portland State University, USA) and Dan Liu (Portland State University, USA)
Copyright: 2016
Pages: 23
Source title: Advancing Pharmaceutical Processes and Tools for Improved Health Outcomes
Source Author(s)/Editor(s): Tagelsir Mohamed Gasmelseid (International University of Africa, Sudan)
DOI: 10.4018/978-1-5225-0248-7.ch001

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Abstract

The pharmaceutical industry is often characterized as a research-driven sector because of its exceptionally high ratio of R&D inputs to sales. Development of novel drugs is very difficult because of several issues including heavy investment, high risks, and long development cycle. Government plays an important role in regulating the development of the pharmaceutical industry. This is true for all phases in pharmaceutical development: from R&D to market. This chapter will focus on the discussion of prospective high-tech areas, development strategies, and innovation resources in the pharmaceutical industry. Expert opinions were analyzed based on the conditions in China's biopharmaceutical sector. Policy recommendations are provided to support technological innovation.

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