Pharmaceuticals and Medical Devices
Abstract
The life sciences industry—encompassing pharmaceuticals, biotechnology, and medical technology—plays a central role in driving innovation, improving outcomes, and shaping healthcare costs. Yet, its inner workings often remain opaque to many outside it. In this chapter, we discuss how the industry decides what products to develop, how to understand the complexities of drug pricing, and why the pricing of drugs causes so much more controversy than pricing decisions in other industries.
Fields of Study & Subjects
Pharmaceutical Economics and Policy
Health Systems
Economic Evaluations
Quality of Life
Medication Adherence and Compliance
Publication details
- Pages
- 76–96
- Publication date
- 7 January 2026
- Language
- EN
- Document type
- Book chapter