Medical department staff of pharmaceutical companies need to understand the key drivers of the industry if they are to work effectively with financial and marketing managers in determining policy. This course provides an overview of the economic and financial background against which medical department decisions or recommendations about introducing and marketing new pharmaceutical products are made. This includes general issues of healthcare economics as they relate to the pharmaceutical industry including measures of health care, governmental policy, approval and appeals processes, and third-party reimbursement. The emphasis is on Australia and New Zealand, but major foreign markets are also discussed. Also included is an orientation for non-financial managers in financial control, return on capital, fixed assets, budgeting, accounting, and profitability, plus a general overview of marketing structure and competition with particular reference to licensing, co-marketing, and co-promotion arrangements. The above is considered against a statistical background of local and international market shares, product life-cycles, development costs, comparative company performances, etc. Basic principles of pharmacoeconomic studies are addressed, including health economic principles and practices, quality of life measures, and the application and validity of the methodology used to assess cost / benefit ratios of healthcare options. Practical examples are used to provide an understanding of pricing and reimbursement of medicinal products, both locally and overseas. This course is available only for programme 5511.