This course will provide the student with an understanding of the economics of the pharmaceutical industry. The development of effective, safe, high-quality, reliable drugs that meet a medical need must be the primary philosophy of regulatory science, but it cannot be done without reference to Health Economics. The course will review the importance and impact of healthcare in the economic activity, the functioning of the healthcare market and the health insurance market, the functioning of the pharmaceutical sector, the importance of innovation and the problems of incentives in the supply and demand of healthcare and pharmaceutical products.
After successfully completing this course, students will be able to:
Understand the basic features of pharmaceutical markets, how pharmaceutical markets work and how competition manifests itself in different parts of pharmaceutical markets.Explain how the pharmaceutical market is linked to the health care market and why it is often the focus of much regulationDemonstrate good understanding of the economic and policy problems encountered in managing pharmaceutical markets.Demonstrate understanding of the pharmaceutical markets from the perspectives of: governments, third party payers, the pharmaceutical industry, doctors and patients, pharmacists and wholesalers.Understand the economics of pricing and reimbursing pharmaceutical products.Comprehend the principles of Health Technology Assessment (HTA) and its implementation.