The pharmaceutical industry is essentially defined by innovation. Research on the forefront of science, the creation of new knowledge bases, the invention of new medicines, and the improvement of existing drugs constitute the fuel that propels the firms in this industry. The occasional triumph of creating a novel therapy in an area with no prior treatments counts among the pharmaceutical industry’s most defining hallmarks. This is the only industry whose output can make a difference by affecting the very molecules we are made of.
Inventing novel drugs is ultimately a business process in need of strict fi scal discipline and effective strategic, organizational, and managerial decisions. Various aspects of pharmaceutical innovation have been the object of intense scrutiny in diverse fi elds such as economics, business strategy, and marketing.
The development of new drug products intended to treat rare (Orphan) diseases is one of the fastest growing areas of clinical development, and also one of the most challenging activity. Every new drug or drug combination is evaluated for safety and efficacy before being approved. For this distinctive reason, Quest life sciences support innovation and play a key role in advancement of new drug development.