There are different reasons as to why a pharmaceutical company might choose to reformulate an existing drug product. Doing so is an vital part of stretching their drug’s lifecycle management strategy within a cost-constrained environment. It is faster and less expensive to bring a reformulated drug to market than a new compound. Drug reformulations generally focus [...]
The expiration of drug patents causes financial challenges for most pharmaceutical companies. Considering that it is common for drugs to take up to eight years for FDA approval, that leaves only 12 years on the market before patents expire and less expensive, generic versions hit the market. The Patent Cliff The patent cliff refers to [...]
In the age of analytics, there's no shortage of data collection. The goal then becomes using intelligent systems to make sound, data-driven business decisions. The ability to accurately predict cause and effect through data, obtained through advanced client reporting systems, can help pharmaceutical companies make better business decisions. What Type of Data Should Pharmaceutical Companies [...]
It used to be common for pharmaceutical representatives to provide samples of medications for physicians to give to their patients. However, AlphaScrip offers a better alternative to traditional sampling methods through their pharmaceutical service program-- sample vouchers. What is a Sample Voucher? When participating in the sample voucher program, a physician will give his or her patient [...]
Miracles of modern medicine have been made possible through the development of prescription drugs that help cure, or at least manage, the symptoms of serious diseases and chronic conditions. However, if patient compliance is lacking, such as failing to regularly fill prescriptions, delaying refills, or going off their medications, patients are not receiving the full [...]
In the United States, patents are commonly issued for twenty years. This includes patents that are obtained by pharmaceutical companies for new drugs. However, because companies apply for patents before clinical trials begin to test the safety and efficacy of drugs, the effective patent period is often between seven to twelve years after FDA approval. What [...]
The answer would be yes, according to a recent study from the Johns Hopkins Center for Health Services that was funded by the National Association of Chain Drug Stores (NACDS). As budgets are in decline for public health resources, pharmacies can be leveraged as a community resource to advance community-based health priorities. Teaming up pharmacists [...]
Cancer patients are expected to benefit from the recent approval by the FDA of the first biosimilar drug to treat various types of cancer. This drug, bevacizumab-awwb, known as Myasi, is the biosimilar of bevacizumab, known as Avastin. While the FDA has approved the use of Myasi as a biosimilar, it is not approved as [...]
A recent study conducted by Quest Diagnostics showed an alarming number of patients combining toxic drugs, for the most part unwittingly. Specifically, patients are concurrently using opioids and benzodiazepines. Often, they're unaware that toxic drug combinations can occur with both prescribed and non-prescribed medication use. Pharmacists can be the first line of defense in protecting patients [...]
The recent devastation from back-to-back hurricanes Irma and Maria has wiped out most of Puerto Rico’s power grid. With almost 10 percent of the medications that are prescribed in the United States being manufactured in Puerto Rico, there is a strong likelihood that shortages will occur with certain medications, according to FDA Commissioner Scott Gottlieb, [...]