PROPRIETARY DRUG Meaning and
Definition
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A proprietary drug is a term used in the pharmaceutical industry to refer to a medication that is protected by intellectual property rights, commonly in the form of a patent. It is a drug that has been developed and produced by a specific pharmaceutical company, giving them exclusive rights to manufacture and distribute it.
These drugs are often the result of significant research and development efforts undertaken by the pharmaceutical company, which includes conducting clinical trials, obtaining necessary regulatory approvals, and investing in manufacturing facilities. The proprietary nature of these drugs allows the pharmaceutical company to have a monopoly over the market during the patent period, which is typically 20 years in most countries.
Since proprietary drugs are protected by patents, other manufacturers are not allowed to produce generic versions of these medications until the patent expires. This exclusivity provides the pharmaceutical company with a period of market exclusivity and allows them to recoup the costs incurred during research and development.
Proprietary drugs are often associated with brand names, as companies tend to promote and sell them under distinctive trademarks. The brand names are typically well-known in the medical community and by the general public, making them easily recognizable and differentiating them from other similar medications.
In summary, a proprietary drug is a medication that is protected by intellectual property rights and is exclusively manufactured and distributed by a specific pharmaceutical company for a set period, resulting in a significant market presence due to the recognition of its brand name.
Common Misspellings for PROPRIETARY DRUG
- oroprietary drug
- lroprietary drug
- -roprietary drug
- 0roprietary drug
- peoprietary drug
- pdoprietary drug
- pfoprietary drug
- ptoprietary drug
- p5oprietary drug
- p4oprietary drug
- priprietary drug
- prkprietary drug
- prlprietary drug
- prpprietary drug
- pr0prietary drug
- pr9prietary drug
- proorietary drug
- prolrietary drug
- pro-rietary drug
- pro0rietary drug
Etymology of PROPRIETARY DRUG
The word "proprietary" in the context of a "proprietary drug" has its roots in the Latin term "proprietas", which means "ownership" or "property". The term "proprietary" was initially used in English to describe something that is owned or held exclusively by a particular individual or company.
In the pharmaceutical industry, a proprietary drug refers to a medication that is manufactured and sold exclusively by the company or individual that holds the rights, patents, or legal ownership over it. These drugs are protected by intellectual property rights, preventing others from producing or selling them without permission.
Therefore, the term "proprietary drug" essentially signifies a medication that is privately owned or controlled, distinguishing it from generic drugs that are available from multiple manufacturers.
Similar spelling words for PROPRIETARY DRUG
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