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Pharmaceutical Economics

The value of medicine, both in terms of cost and efficacy, is the central concern of pharmaceutical economics. Read this article to learn more about this field of economics and about careers for pharmaceutical economists.

Inside Pharmaceutical Economics

Pharmaceutical economics, also known as pharmacoeconomics, deals with supply and demand of pharmaceutical products, as well as the cost-benefit evaluation of new and existing drugs. Primary concerns of the field include expanding drug accessibility, reducing the price of drugs and improving the cost-effectiveness of new drug therapies. Professionals in this field have proficient understanding of healthcare policy, healthcare administration and drug regulations, coupled with strong mathematical skills.

Education Information

Pharmaceutical economics is usually offered as an interdisciplinary graduate program at the master's and doctoral levels through schools of pharmacy, and students may prepare for such programs by completing a bachelor's degree in pharmaceutical science. In addition, some students choose to pursue a degree in pharmaceutical economics after completing a Doctor of Pharmacy (Pharm.D.), but the professional Pharm.D. is not a prerequisite for admission.

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