Congress has exhibited a strong and ongoing interest in facilitating the development of new, innovative pharmaceuticals for the marketplace while reducing the cost of drugs to consumers. Policies pertaining to funding for research and development (R&D), intellectual property protection, and cooperative ventures have played an important role in the economic success of the pharmaceutical sector. Industry-specific legislation, also work to encourage innovation in the pharmaceutical sector while facilitating the entry of lower cost generic competition. While many factors contribute to innovation in the brand pharmaceutical industry and its ability to bring new and inventive products to the marketplace, this sector is facing significant issues associated with loss of revenue for additional R&D due to patent expirations and generic competition. This book examines the challenges associated with striking the proper balance between lower cost drugs and maintaining an innovative domestic pharmaceutical sector.
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