Accounting

I have been using Generic Drugs for quite sometime now because it is just as effective as the Branded Drugs, and while I was on my busy daily routines, I just had a good idea which of the two will prevail in not so distant future and does it going to signal the end of the Branded Drugs. I just thought that the most objective answer to this question can be extracted from Data Mining Techniques.

Very large Pharmaceutical companies spend a lot of money in research and development of new medicines and they patent whatever information that is patentable to prevent others from copying/producing the same drugs and as a result, the medicine becomes very expensive but after the patent expires and becomes a public domain, the medicine can now be produced by anybody. That medicine now becomes Generic and since a lot of people are able to produce it, chances are, it becomes very very cheap.

To get our study quickly started, first we determine what are the factors that will definitely drive consumers to patronize cheap medicines or prevent people from buying cheap medicines. Of course, we can easily generate a very long list, but then is this really accurate? Or how are we going to prove it? And how does each item in our list will contribute to the overall impact and where are we going to get the necessary data, very very large data?

I would start from getting the necessary data from  large databases that contains accounting/logistics data collected from accounting software of very large phamaceutical firms, identify the trends and do some surveys on people.