Write a research paper on the Drug Pricing in Canada Rationale, Effects, and the Case for National Pharma careA. Use author-date chicago manual of style for both your in-text citations and your bibliographic references given in your List of References at the end of your essay (for details of this style see see the ‘Please Note: Guidelines for Essay Courses’ section of the course syllabus).
B. Answer ALL questions (for a list of questions, see below).
C. Place all diagrams in an appendix and have them all sourced using the Author-Date Chicago Manual of Style; no diagrams should appear in the body of your essay. Refer to the diagrams in the body of your essay as i.e. Appendix A, Appendix B, etc. where each appendix is a separate diagram or a set of related diagrams.
D. Organize your thoughts – each paragraph should contain an elaboration of ONE idea; and each paragraph should have an introductory sentence.
E. Place the thesis statement (which is worth 25 marks) as the last sentence in your introduction. Please DO NOT begin it by saying “This essay is about ….” because that is NOT a thesis statement.
F. Have at least 8 scholarly resources.
G. Cite your ideas – it is an academic offence to borrow other people’s ideas, phrases, data without sourcing where you obtained the information from; when in doubt, cite too often rather than not often enough (beware of plagiarism – for further information about plagiarism and what needs to be sourced see the ‘Please Note: Guidelines for Essay Courses’ section of the course syllabus.
H. Enjoy researching the topic, realizing it is currently a central topic of debate among health policy decision-makers.
The following questions must be addressed in your essay:
1. The financial profitability from pharmaceutical R&D can be highly uncertain, and the costs of drug development can be quite high. Explain why this is the case by briefly describing the process of bringing a new drug to market, including identifying, testing and marketing a drug. Provide supporting evidence of the uncertainty and high costs (i.e. numbers).
2. Given the uncertainty of financial profitability and the high costs of R&D it seems unlikely that much R&D happens at all. Discuss how (in the absence of patent protection) the free-riding potential of generic knock-off drugs can create market failure in the R&D market. Provide an economic model (diagram) to aid in the economics of your explanation, making sure you identify (by clearly labeling) and discuss (by clearly explaining):
