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Quoting this article Efficacy, effectiveness, efficiency, 1  efficacy is the extent to which a drug has the ability to bring about its intended effect under ideal circumstances, such as in a randomised clinical trial. 2  effectiveness is the extent to which a drug achieves its intended effect in the usual clinical setting.
Efficacy: Broadly, efficacy refers to the capacity of a drug to produce an alteration in a target cell/organ after binding to its receptor. A competitive antagonist, that occupies a binding site without producing any alteration in the receptor, is considered to have an efficacy of zero. Efficacy is generally independent of potency/affinity, and is related to the maximum effect that a particular drug is capable of producing.