Pharmaceutical economics

Pharmaceutical economics is the study of how resources are allocated and used in the development, production, and distribution of medications. It examines factors like drug prices, healthcare costs, and the economic impact of pharmaceuticals on society. This field assesses the value of drugs in terms of their effectiveness and the overall benefits to patients, helping policymakers and healthcare providers make informed decisions about which treatments to prioritize. By balancing costs with health outcomes, pharmaceutical economics aims to ensure that people have access to effective medications while maintaining sustainable healthcare spending.