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The use of commonly prescribed drugs can be reflected from the number of prescriptions of the drugs. Countries have their own dataset in recording the trend of commonly prescribed drugs. For example, the United States uses the Medical Expenditure Panel Survey (MEPS) [ 1 ] and England uses the English Prescribing Dataset [ 2 ] to record the ...
The number of people who benefit from a drug determines if drug trials are worth carrying out, given that phase III trials may cost between $100 million and $700 million per drug. This is the motivation behind personalized medicine, that is, to develop drugs that are adapted to individual patients. [19]
Brand name drugs cost more due to time, money, and resources that drug companies invest in them to conduct development, including clinical trials that the FDA requires for the drug to be marketed. [28] Because drug companies have to invest more in research costs to do this, brand name drug prices are much higher when sold to consumers. [28]
The drug must be found to be effective against the disease for which it is seeking approval (where 'effective' means only that the drug performed better than placebo or competitors in at least two trials). The drug must meet safety criteria by being subject to animal and controlled human testing. Gaining FDA approval usually takes several years.
Pharmacy information systems are a potential source of valuable information for pharmaceutical companies as it contains information about the prescriber's prescribing habits. Prescription data mining of such data is a developing, specialized field. [55] Many prescribers lack the digitized information systems that reduce prescribing errors. [56]
A medication (also called medicament, medicine, pharmaceutical drug, medicinal product, medicinal drug or simply drug) is a drug used to diagnose, cure, treat, or prevent disease. [ 1 ] [ 2 ] Drug therapy ( pharmacotherapy ) is an important part of the medical field and relies on the science of pharmacology for continual advancement and on ...