The pharmaceutical industry plays a vital role in the world's economy, as well as in ensuring
the welfare of its citizens. In the United States, this industry constitutes a large and important
part of the economy. In 2002, health care expenditure in the United States reached $1.6
trillion, accounting for fifteen percent of total GNP. 1 This percentage is also growing over
time—it was seven percent in 1970.2 An important component of the health care industry is
the pharmaceutical industry—in 2002, its size was estimated at $193 billion. 3 While the …

The pharmaceutical industry plays a vital role in the world's economy, as well as in ensuring
the welfare of its citizens. In the United States, this industry constitutes a large and important
part of the economy. In 2002, health care expenditure in the United States reached $1.6
trillion, accounting for fifteen percent of total GNP. This percentage is also growing over time-
it was seven percent in 1970. An important component of the health care industry is the
pharmaceutical industry-in 2002, its size was estimated at $193 billion. While the …