The pharmaceutical (pharma) industry is responsible for the research, development, production, and marketing of medications used to prevent, treat, and manage diseases. It plays a critical role in global healthcare by ensuring access to safe, effective, and high-quality drugs. The industry includes everything from generic manufacturers to large multinational corporations developing innovative therapies and vaccines. Pharma companies invest heavily in research and development (R\&D) to discover new drugs and improve existing treatments. This involves rigorous clinical trials and regulatory approval processes to ensure safety and efficacy, overseen by agencies like the FDA or EMA.
The industry is rapidly evolving with advancements in biotechnology, personalized medicine, and artificial intelligence, which are helping to accelerate drug discovery and improve patient outcomes. Despite facing challenges like patent expirations, pricing pressures, and regulatory complexities, the pharma sector remains essential to public health, striving to combat both common and rare diseases across diverse global populations.