Document Type


Publication Date

Fall 1997

Publication Citation

5 Indiana Journal of Global Legal Studies 65 (1997)


In this article, Professor Stuart Walker examines several challenges that

will be faced by the global pharmaceutical industry in the near future. These

involve the question of improving the overall quality of life and care for

millions in an era of cost containment. In order to respond to the increasing

demands for advances in medicine while simultaneously retaining an

industrially strong, innovative, and resilient economy, responsibility for the

necessary changes will need to be shared among governments, the

pharmaceutical industry, and health care professionals.

In particular, four challenges faced by the global pharmaceutical industry

and their responses to each are discussed The first of these is the need for the

industry to secure sufficient revenue from marketed products, so that they may

both remain profitable and be able to invest in research and development to

facilitate the creation of new medicines. The second challenge arises out of

that research and development and involves the production of innovative

medicines for the treatment or prevention of diseases for which there is no

adequate treatment. Once these new medicines are developed, the third

challenge faced by the industry is to bring the new medicines to market in a

more rapid and efficient manner. Achieving this third goal is closely

intertwined with the final challenge: restructuring the regulation of medicines

to ensure the rapid review of new drug applications to get these new medicines

to market. Although much remains to be done in achieving these goals,

Professor Walker notes that the global pharmaceutical industry is taking

decisive steps to approach these challenges and his article operates as a

framework for continued progression.