Pharmacoepidemiology focuses on patient clinical outcomes from therapeutics by using methods of clinical epidemiology and applying them to understand the determinants of beneficial and adverse drug effects, duration-response relationships, effects of genetic variation on drug response, clinical effects of drug-drug interactions, and the effects of medication non-adherence. Research in the area of Pharmacoepidemiology enables healthcare practitioners to study long-term medication safety and helping in prevention of patient harm. Pharmacoepidemiology principles and practice is applied by clinical practitioners, academic researchers, pharmaceutical industries and regulatory agencies for further research on drug safety and to safeguard patients from predicted harm from the use of pharmaceutical products and devices.

Pharmacoeconomic research is the process of identifying, measuring, and comparing the costs, risks, and benefits of programs, services or therapies, and determining which alternative produces the best health outcome for the resource invested. For most practitioners, Pharmacoeconomics translates into weighing the cost of providing a pharmacy product or service against the consequences (outcomes) realized by using the product or service to determine which alternative yields the optimal outcome per unit of money spent. This information can assist clinical decision-makers in choosing the most cost-effective treatment options.