ECONOMIC AND LEGAL FRAMEWORKS OF THE INNOVATIVE ACTIVITY IN THE FIELD OF PHARMACEUTICAL INDUSTRY TURNOVER

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ECONOMIC AND LEGAL FRAMEWORKS OF THE INNOVATIVE ACTIVITY IN THE FIELD OF PHARMACEUTICAL INDUSTRY TURNOVER

Journal Title: Економічна теорія та право - Year 2016, Vol 2, Issue 25

Abstract

Problem setting. During the last years, the world pharmaceutical industry has been facing significant changes, which is related to globalization processes as well as processes of pharmaceutical technologies assimilation. In general, a problem of providing innovative economic development is universal. Since the pharmaceutical sector of the national economy is enough specific because of configuration of social interest distribution and legal regulation measures, there is a need to build special innovation, economic and legal policies for such an object. The domestic pharmaceutical industry encompasses a large amount of high-capacity enterprises. However, production of these enterprises is oriented towards generic drugs, i.e. drugs, an intellectual property right protection term of which has expired. By definition, these medicines are not innovative. Thus, key goals of the innovative policy in the industry are encouraging the national business entities to invest in new developments of medicines and implementation of such developments in large-scale production with prospects of export. Recent research and publications analysis. Some legal aspects of the economic and legal support of the innovative activity in high-technological branches have been considered by Yu. Ye. Atamanova, O. M. Vinnyk, D. V. Zadykhailo, V. K. Mamutov, V. M. Pashkov, V. V. Reznikova, V. A. Ustymenko, O. V. Shapovalova, V. S. Shcherbyna, etc. At the same time, matters of economic and legal frameworks of the innovative activity in the exactly pharmaceutical industry have been insufficiently researches. They are subject to scientific discussions. Paper objective. An article purpose is to research peculiarities of economic and legal frameworks of the innovative activity in the field of pharmaceutical industry turnover and to provide the balance of public and private interests of this activity type. Paper main body. It is worth mentioning that any researches regarding the chosen topic consist in determination of a whole system of economic and legal means for stimulation of social relations in all branches of such a system (innovative cycle branches). These researches comprise the following steps: creation of scientific development; driving the development into a state of a medical drug, including passing through license terms; commercialization of rights to using the drug in industrial production; functioning and usage of the new technology in industrial production; selling, including export of such innovative medicines. Having considered modern achievements in development and application of innovative medicines, the author may conclude that scientific researches in this area are diversified and dynamical. There is no doubt about a fact that the further progress of treatment of a large amount of disease, namely extreme pathologies, will be related to application of innovative drugs approved as effective and safe medicines with improved pharmacokinetic characteristics and an ability of drug delivery. Simultaneously, creation and examination of highly effective medicines in new technologically perfect forms and development of objective methodical instruments for estimation of quality and effectiveness of proposed forms are topical goals of the modern pharmacy. Conclusions of the research. Therefore, the innovative legislation should precisely determine sources of financing measures of the innovative activity in the pharmaceutical market, namely: a) own funds of enterprises through encouraging active investment behavior of business entities, the increase of application of depreciation as a source of investments, including at the expense of accelerated depreciation; conducing to formation of production unions for the purpose of concentration of financial resources and further direction of the resources towards innovative restructurization; improvement of taxation mechanisms in order to increase investment opportunities; b) public investment resources through implementation of new approaches to carrying out the government innovation policy, particularly with the help of venture capital; crediting innovation projects on favorable terms and on the terms of collateral security and government guarantee of their return. Short Abstract for an article Аbstract. The author has researches problems of economic and legal support of the innovative activity in the field of pharmaceutical industry turnover, particularly in the field of industrial production. The article analyzes the current legal sense of a concept «innovative medicine». The author proposes an own legal definition of this concept. The author has considered modern achievements in development and application of innovative medicines and determined the legal status of medical drugs, which had lost a right to patent protection. The author proves that the modern market of pharmaceutical products is a multi-level system. Until recently, figures of production, sales, and profitability in this market grew at a rapid speed. The author has analyzed experience of developed countries, which confirms that structural rebuilding of the post-industrial society economy and the increase of its competitiveness are possible only under conditions of widespread implementation of innovations, i.e. activation of the innovative activity.

Authors and Affiliations

А. В. Останіна

Keywords

Innovative activity in the field of pharmaceutical industry turnover innovative medicine generic drugs.

EP ID EP175197
DOI -
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