What is the primary role of the pharmaceutical industry?

Its primary role is the research, development, manufacturing, and marketing of medications to prevent, treat, or cure diseases, significantly impacting global health and well-being.

How long does it typically take to develop a new drug?

On average, developing a new drug from discovery to market approval can take 10-15 years, involving extensive research, preclinical testing, clinical trials, and regulatory review.

Who are the main regulatory bodies overseeing pharmaceuticals?

Major regulatory bodies include the FDA (U.S.), EMA (Europe), and PMDA (Japan), which ensure drug safety, efficacy, and quality before they reach patients.

What is the difference between a brand-name and a generic drug?

A brand-name drug is the original patented medication, while a generic drug is a bioequivalent, often more affordable version produced after the patent expires.