What is intellectual property in pharmaceutical industry?

Intellectual property (IP) is a pharmaceutical or biotech company’s most valuable resource, and its protection is a key to that company’s future success.

What do pharmaceutical scientist do?

A pharmaceutical scientist, then, is a professional who performs research to drive drug discovery, development, and testing. These professionals are typically bench-level scientists who are charged with executing experiments as part of a team-based research project aimed at introducing new drugs to the marketplace.

When a new drug is created the pharmaceutical company?

When a new drug if created, the pharmaceutical company must subject it to testing before receiving the necessary permission from the Food and Drug Administration (FDA) to market the drug.

What is intellectual property in drug discovery?

Intellectual Property Rights Patents provide pharma companies exclusive rights to market drugs and prevent others to manufacture, sell, and make these drugs for a period of 20 years. IPR is a prerequisite for pharma companies for identification, planning, commercialization, and protection of invention.

What is pharmaceutical research and development?

Pharmaceutical R&D refers to the pharmaceutical research and development of new medicines. The process begins with understanding the disease and selecting a target (usually a receptor site on a cell) that can potentially be affected by a drug molecule (Institute of Medicine 2007; PhRMA 2009).

How are drugs researched?

Research for a new drug begins in the laboratory. Drugs undergo laboratory and animal testing to answer basic questions about safety. Drugs are tested on people to make sure they are safe and effective.

What do pharmaceutical scientists make?

Pharmaceutical Scientists in America make an average salary of $70,599 per year or $34 per hour. The top 10 percent makes over $102,000 per year, while the bottom 10 percent under $48,000 per year.

How do pharmaceutical scientists discover new drugs?

During the discovery phase, pharmaceutical scientists may examine thousands of molecular compounds before they find one that effectively fights disease without harming the patient. Alternatively, hundreds of molecular pathways are evaluated to determine if a protein can alter the signaling in a beneficial way.

How long does it take to develop a new drug?

If a pharmaceutical scientist identifies a promising new compound or target today, it may take up to 20 years before the medicine is available in your drug store. Pharmaceutical scientists usually specialize in one aspect of the drug development process.

How many chemical compounds are needed to make a drug?

The current state of the chemical and biological sciences required for pharmaceutical development dictates that 5,000–10,000 chemical compounds must undergo laboratory screening for each new drug approved for use in humans.

What is the job description of a pharmaceutical scientist?

Typical pharmaceutical scientists spend most of their time in a laboratory discovering and learning how different compounds interact with disease-causing cells and organisms. In addition, they investigate how these compounds interact with the human body to ultimately determine if they can become new drugs.