The value of medicine, both in terms of cost and efficacy, is the central concern of pharmaceutical economics. Read this article to learn more about this field of economics and about careers for pharmaceutical economists.
Inside Pharmaceutical Economics
Pharmaceutical economics, also known as pharmacoeconomics, deals with supply and demand of pharmaceutical products, as well as the cost-benefit evaluation of new and existing drugs. Primary concerns of the field include expanding drug accessibility, improving the cost-effectiveness of new drug therapies and reducing the price of drugs. Professionals in this field have proficient understanding of healthcare policy, healthcare administration and drug regulations, coupled with strong mathematical skills.