Phase IV Clinical Trials → Economics

It is important for a pharmaceutical company to research how a drug is marketed, prescribed, and used in society, and how this influences economic outcomes. Companies will aim to predict the market value of a drug before it reaches the market, however this is only a prediction and will need to be evaluated in a real-world setting. Data can be collected on how the product is used in specific populations, and this in turn can influence marketing decisions. These studies also include monitoring ‘off label’ sales, where a drug is used for an alternative purpose or used on a different population than was initially intended.