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The purpose of engaging this topic is to: examine the current regulatory environment for new drugs, gain an understanding of breakthrough innovation in pharmaceuticals, evaluate the efforts of key players, and make projections about the future of this industry. As therapeutics has evolved away from their theistic origins, natural products, synthetic chemistry, and biopharmaceuticals have emerged. Yet many difficulties remain for this specialized industry. The approval process for a new drug can take upwards of eight years and cost $800 million. The progression from test tube to commercial distribution includes preclinical trials followed by three phases of clinical (human) trials, marked by ongoing dialogue between the Food and Drug Administration (“FDA”). Five of largest American pharmaceutical companies have intensified their efforts in Research and Development (“R&D”) in recent years. But in a space marked with competition from generic manufacturers and maturing biotech companies, understanding the dynamics of this highly scrutinized market requires an awareness of the political and economic climate these key players face. Where this industry is headed is much less clear than where it is coming from. Careful analysis is one lens through which to examine all of these intricate elements and is the focus of this research paper.