Innovation is expensive and the most recent studies peg the cost of developing a new medicine between US$2-3 billion. Yet companies must recuperate their costs and make profits to make it attractive to invest in a drug. Without this, R&D companies would not want to pour money into researching new drugs that will improve the quality of DALYs and save lives. However, finding a buyer, especially an institutional one, for innovative and less-affordable medicine can be difficult and often companies must convince the purchaser of the value of their product.
This chapter of Mexico Health Review will explore the strategies companies follow to do just that, in addition to revealing their research strategies and how they maintain efficiency in their operations. Interviews with leading CEOs of the segment will showcase the value of innovation in medicine.
-> How is your innovation contributing to reducing the burden of disease in Mexico?