The pharmaceutical industry refers to the sector of the economy that is involved in the research, development, production, and marketing of medications and therapeutic drugs. This industry encompasses various activities related to the creation of pharmaceutical products, including the discovery of new compounds, clinical trials to assess safety and efficacy, regulatory approval processes, and the distribution of medications to healthcare providers and patients. The pharmaceutical industry plays a critical role in public health by providing treatments for a wide range of medical conditions, including chronic diseases, infectious diseases, and mental health disorders. It is characterized by significant investment in research and development, innovation, and collaboration with healthcare professionals and regulatory agencies to ensure the efficacy and safety of drugs. Additionally, the pharmaceutical industry is subject to strict regulations to ensure that the medications produced meet quality and safety standards.
Eli Lilly's Zepbound sales skyrocketed to $1.9 billion, reflecting a major demand for weight-loss treatments. Competition intensifies in the pharmaceutical market with Novo Nordisk also reporting doubled sales of Wegovy…