Financial Glossary

A nearly identical copy of an FDA-approved biologic drug that's lost patent protection, offering similar efficacy at lower costs.

Companies using biological processes and living organisms to develop drugs, treatments, and medical technologies for healthcare applications.

Multi-phase studies testing new drugs or medical devices for safety and efficacy before regulatory approval and market launch.

Exclusive rights granted to pharmaceutical companies to market a drug for typically 20 years, protecting revenue streams worth billions.

The complex system determining pharmaceutical costs, involving R&D recovery, regulatory factors, and market dynamics that drive investor returns.

FDA approval is the regulatory green light allowing pharmaceutical companies to market new drugs or medical devices in the US.

Medical treatment that introduces genetic material into patient cells to correct defective genes or provide new cellular functions.

A bioequivalent medication containing the same active ingredients as a brand-name drug, sold after patent expiration at significantly lower prices.

Risk pooling system where individuals pay premiums to insurers who cover medical costs, creating massive healthcare sector cash flows.

Federal health insurance program for Americans 65+ that creates a $1 trillion annual healthcare market driving major investment themes.

A pharmaceutical product developed to treat rare diseases affecting fewer than 200,000 people in the US, receiving special regulatory incentives.

When pharmaceutical companies face massive revenue drops as their blockbuster drugs lose patent protection and generic competition enters.

Strategic acquisitions and mergers in the pharmaceutical sector, often driven by patent cliffs, pipeline gaps, and regulatory pressures.

Large-scale clinical trials testing drug safety and efficacy in hundreds to thousands of patients before FDA approval.

Remote healthcare delivery using digital technology, creating investable opportunities in virtual care platforms and medical technology.