HLTHMGMT 717 - Economics and Management of the Pharmaceutical Industry
This course examines management and policy issues concerning innovation, product commercialization, competition, and regulation in the pharmaceutical industry. We concentrate on factors that distinguish pharmaceuticals from other industries such as its strong research intensity, close ties to the health care system, and the critical role of government regulations and policy. The overall perspective is international, with an emphasis on current market and policy developments in the United States.
The course begins with an analysis of the pharmaceutical R&D process - its costs and returns, how companies select their portfolio of projects, and how they manage the regulatory process at the FDA. We next examine key aspects of the pharmaceutical commercialization process, including pricing, reimbursement, promotion, differences among market segments, and competition between generics and proprietary products. We conclude by considering the management of inter-firm relationships such as pharmaceutical alliances and acquisitions.
Throughout the course, we will consider the industry's strategic responses to recent developments including the growth of managed care, global competitiveness, proposed regulatory reform policies, and increasing government cost containment policies in this country and abroad.
Who should be interested: The course should benefit students with career interests in the pharmaceutical industry or in health-sector consulting companies, and also those interested in analyzing strategic responses to market change and government policy initiatives.