Research & Development in Pharmaceutical industry
The initial and the most important part of any pharmaceutical industry is R &D that is research and development. This process is not limited to some steps or some predefined path, rather it is a very diverse field which may continue for many years. The research work is done at the start and a basic overview of the requirements is taken into consideration. Then after the initial analysis, the budget for the particular medicine or drug is calculated that is the amount of money that will be required to complete the research and development of the particular drug or medicine. This budget will be calculated by the management and after it is done the development of the medicine or drug is started in the pharmaceutical industry. Once the budget is approved, the development is started.
You must be wondering that most of the people working in the pharmaceutical industry must be working in the research and development department but this is not the case. There are separate teams for each department, salesperson are also a part of the pharmaceutical industry. After doing the research and development, the medicine or the drug is passed on the testing department where it is thoroughly tested and then only the medicine or the drug is launched in the market for usage of common people. So the research and development department is the department which consumes most of the expenses and also all the profits of the pharmaceutical industry is dependent heavily on this department of research and development
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November 26 2008 10:08 am | Health