Definition of Blockbuster drug:
A blockbuster drug is an extremely popular drug that generates annual sales of at least $1 billion for the company that sells it. Examples of blockbuster drugs include Vioxx, Lipitor, and Zoloft. Blockbuster drugs are commonly used to treat common medical problems like high cholesterol, diabetes, high blood pressure, asthma, and cancer.
Pharmaceutical companies spend a significant amount of time and money on the research and development (R&D) of new drugs. The research and development process can take years and cost hundreds of millions of dollars. When a pharmaceutical company creates a drug that works successfully and is approved by the Food and Drug Administration (FDA), they can sell the drug at a high price to recoup the R&D expenses, as well as making a profit.
An extremely popular drug, usually one that generates annual sales of at least $1 billion. A blockbuster drug can be highly profitable, but it has some potential disadvantages. If the drug is discovered to have serious side effects, a company may actually lose money on it. Also, like all drugs, a blockbuster drug eventually loses patent coverage, and the company that developed the drug no longer has exclusive rights to it.
How to use Blockbuster drug in a sentence?
- Blockbuster drugs are used for common ailments, such as diabetes, cholesterol, high blood pressure, and cancer, that many individuals face.
- Common blockbuster drugs are Vioxx, Lipitor, and Zoloft.
- A blockbuster drug is a very popular drug that generates annual sales of $1 billion or more for the company that sells it.
- Pharmaceutical companies spend a lot of money on research and development (R&D) and sell a successful drug at a high price to recoup losses and earn a profit.
- When a drug's patent expires, the market is flooded with generic drugs, negatively impacting sales of the blockbuster drug.
Meaning of Blockbuster drug & Blockbuster drug Definition