Value of Pharmaceutical Products
Pharmaceutical Industry Policy Institute
(No.20: Published July 2004)
Health, and medical care, is a fundamental human need. In response to this need, medical care has made remarkable progress, and pharmaceuticals have played a central role in this development. However, even today, the needs for health and medical care remain unmet, and as the world's unparalleled aging society becomes a reality, these needs are becoming even more acute. To meet these fundamental needs, the pharmaceutical industry must quickly and continuously develop innovative, highly useful, and superior medicines and continue to provide them to patients around the world suffering from diseases. In order to achieve this, however, it is essential that innovative, highly useful, and excellent pharmaceutical products are properly evaluated in accordance with their value.
This research paper captures the "value of pharmaceuticals" from the perspective of patients and the public, and provides specific examples. It also clarifies the process by which the "value of a drug" is created, and examines methods for evaluating the "value of a drug.