what is pharma

Pharma is a term used to refer to the pharmaceutical industry and the companies involved in it. The pharmaceutical industry is responsible for discovering, developing, producing, and marketing pharmaceutical drugs for use as medications to be administered to patients, with the aim to cure and prevent diseases, or alleviate symptoms. The industry has been growing and evolving, with biologics rising in importance in comparison with small molecules treatments. The pharmaceutical industry is also involved in research and development, clinical trials, drug discovery, and licensed production. The industry has been subject to criticism and conspiracy theories, and some of the most impactful remedies of the early 21st Century were only made possible through mergers and acquisitions. The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the nations leading biopharmaceutical research companies.