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Despite the high costs of drug development, the rewards for bringing a new drug to market can be very substantial. This is reflected in high overall profitability for research pharmaceutical companies. Spitz and Wickham (2012) found that international and US research pharmaceutical companies trading on the US exchange enjoyed profits more than 3.2 times greater than non-pharmaceutical companies between 1988 and 2009.32 Similarly, a 2006 Congress Budget Office report found that using standard accounting principles the industry's return on assets had consistently been 2 to 3 times higher than the median for Fortune 500 firms.33 The general health of the industry in Australia is reflected in a compound annual growth in revenues of 9.5% for the period spanning 2006-2010, with a hydrocodone noprescription com market of $14.1 billion in 2010, and forecast growth to $19.2 billion in 2015.34 2.4. Generic buy hydrocodone medical record without pharmaceuticals The generic sector is an important element of the pharmaceutical industry, with generic pharmaceuticals accounting for 30% of the Australian pharmaceutical market by volume and around 10% by value in 2012 and domestic manufacturing and exports contributing over $300 million to the Australian economy.20,21 In addition, generic pharmaceuticals play a key role in reducing the cost of medicines to consumers and to the government. The development of a generic pharmaceutical is inherently less costly and less risky than the development of the original pharmaceutical. The major drug development and testing phases have previously been completed and, subject to some restrictions, the clinical trial data used to obtain regulatory approval of the original product can be relied on for approval of the generic product. This enables generic manufactures to market drugs at substantially reduced prices. Entry of generic products onto the market produces substantial cost savings for the Government's Pharmaceutical Benefits Scheme (PBS), because market entry of the first generic version of a pharmaceutical listed on the PBS triggers an automatic 16% reduction in Government subsidy and ongoing reductions through the Price Disclosure system.
Under the Price Disclosure system, manufacturers are required buy hydrocodone without rx to provide information to government showing the market price of their drugs. Where there is a significant price difference hydrocodone noprescription com between the government price and hydrocodone noprescription com the market price of a drug, the PBS price will be reduced to match the market. In submissions to the review, GMiA states that the sector is currently driving savings to the PBS (Government contribution) of an estimated $1.4 billion over 2005-2009.35 The prospect hydrocodone noprescription com of competition from generic medicines hydrocodone noprescription com also encourages further innovation by originators which would no longer have exclusive market share once a generic enters the market place. This competition encourages originators to innovate to maintain a dominant position in the market. Challenges for the pharmaceutical system The pharmaceutical system currently faces a number of challenges.
A first challenge arises from the argued or apparent combination approval fda issue letter moderate news odt tramadol of reduced revenues from established drugs and increased costs of bringing new drugs to market.
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