Release Date: 22-Sep-2014
Global Orphan Drug Market Report Findings:
Key Highlights of Report
The orphan drugs enjoy significant competitive advantages in the market owing to the market exclusivity period after the drug has been authorized. Through this clause, the manufacturer of orphan drugs is given a monopoly status in the market because according to the law, no other company is allowed to market the orphan drugs during the exclusivity period. Additionally, this monopolistic power is further strengthened with the fact that no other alternative health technology exists for many orphan drugs.
With the marketing exclusivity in rule, the manufacturing company has an incentive to fix the price of the orphan drug at significant high levels. The payers of health care do not have significant negotiation power and are constantly under pressure from patient advocacy groups and media to accommodate new drugs. Also, these payers seldom do not have adequate and complete information about the cost structure of orphan drugs. Thus, they are, in most cases, forced to accept the price fixed by the manufacturers.
For Report Sample Visit: Global Orphan Drug Market Outlook 2018
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