A drug is defined as a chemical substance that has knows biological effects on humans or other animals. In pharmacology, drug is used in the treatment, cure, prevention or diagnosis of disease or used to otherwise enhance physical or mental well-being. A pharmaceutical drug or mostly known as medicinal product is any chemical substance or compounded as single active ingredient or in combination of other pharmacologically active substance, it may be in a separate but packed in a single unit pack as combination product intended for internal, or external or for use in the medical diagnosis, cure, treatment or prevention of disease.
In the U.S, a drug is categorized into 5 categories:
- A substance recognized by an official pharmacopoeia or formulary.
- A substance intended for use in the diagnosis, cure mitigation, treatment or prevention of disease.
- A substance (other than food) intended to affect the structure or any function of the body.
- A substance intended for use as a component of a medicine but not a device or a component, part or accessory of a device.
- Biological product is included within this definition and is generally covered by the same laws and regulations, but differences exist regarding their manufacturing processes.
In the United States, drug companies monopolies on pharmaceutical drug for 20 years because they had been granted a patent for every new pharmaceutical drug they develop. Once a patent is granted, other manufacturers are prohibited from making, using or selling the formula for the life of the patent. According to a report from Families USA titled, “The Choice: Health Care for People or Drug Industry Profits,” in 2005, the combined revenues for the top-seven U.S- based pharmaceutical companies totaled more than $190 billion in 2004. The companies’ stock owners are the biggest achiever because the annual income of the chief executives of these seven companies was $13 million in 2004. Based on the U.S Census...