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October 2021

Consumer's Guide to Pharmaceutical Consulting

A Consumer’s Guide to Pharmaceutical Consulting

By | Pharmaceutical Consultant | No Comments

Table of Contents Pharmaceutical Consulting Tips The Advantages of Hiring a Pharmaceutical Consulting Firm Pharmaceutical Consulting Tips Although pharmaceutical consulting has only been around for approximately 20 years, it has probably had a greater impact on the landscape of medical care in the United States than virtually any other administrative job. Surprisingly, few customers are aware of the day-to-day choices made on their behalf by businesses. Here’s a behind-the-scenes look into pharmaceutical consultancy. What it is: Pharmaceutical consulting is a procedure in which specialist firms assist businesses and healthcare providers in lowering the cost of prescription medicine. Methods range considerably, from restricting the kinds of medicines covered by insurance to evaluating administrative procedures and proposing efficiency improvements. Why consumers should be concerned: Consulting companies may assist in lowering the cost of prescriptions, which may result in cheaper health insurance rates for consumers. However, businesses may offer recommendations that limit customers’ access to certain prescription medicines…

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Lifecycle of a Product

Lifecycle of a Product: The Development of a New Drug

By | Pharmaceutical Development | No Comments

Table of Contents What is the drug development life cycle? New therapeutic product development Preclinical/non-clinical studies Clinical trials What is the drug development life cycle? Developing a new drug (e.g., a new medicine or biologic) is a lengthy, complicated, and costly process that usually takes 10 to 12 years (or more) from product discovery to commercialization. This lifespan typically consists of the following stages: Discovery and research: Identify targeted therapy for illness or condition diagnosis, cure, mitigation, treatment, or prevention. Development: This comprises non-clinical research, clinical investigations, and the creation of chemistry, manufacturing, and controls (CMC) to support clinical trials (e.g., IND, IDE, CTA, IDE) and license applications (e.g., NDA, NDS, MAA). Regulatory review and approval: Data submission for regulatory assessment shows the product’s safety, effectiveness, and quality for the intended indication. Commercialization and marketing: Ongoing regulatory compliance is achieved by filing safety reports and other necessary documents (e.g., product renewal). New therapeutic product development…

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