This chapter describes the market for pharmaceuticals, which exceeded $500 million in sales in 2010. The industry is … also characterized by extensive regulation of almost every activity, from product development through manufacturing and … research and incentives for innovation. We then summarize the pricing and marketing of drugs in the US and several other …

pharmaceuticals. The changing methods by which drugs are discovered, the links between companies and academic science, the changing … character of public regulation, and the sharp rise in the cost per new approved drug are analyzed. Determining which new drugs …