8 April 2014. Ventola, C. Lee. “Direct-to-Consumer Advertising Therapeutic or Toxic?” Pharmacy & Therapeutics. October 2011. www.ncbi.nlm.nih.gov/pmc/articles/PMC3278148/#b5-ptj3610669. Web.
Pharmaceutical companies have come under intense political and social criticism owing to their extraordinary surpluses and their supposed share in the escalating health care expenditure. State administrations all over the world are attempting to accommodate the ever increasing costs of production as health care allocations incorporate a large percentage of government expenditures. This has made drug costs a major political discussion in America. In the United States, President Clinton began a critical evaluation of the healthcare system and proposed federal controls on this industry and price controls of prescribed drugs (Bradley and Weber 3). This threat did not materialize but there still prevails the likelihood for other restrictive measures targeting pharmaceutical products.
25 October, 2010. Retrieved online: http://abcnews.go.com/Health/Wellness/drug-companies-payments-doctors-revealed-database/story?id=11929217 “Let the Sunshine In,” (2013). The Economist. Mar 2, 2013. Retrieved online: http://www.economist.com/news/business/21572784-new-efforts-reveal-ties-between-doctors-and-drug-firms-let-sunshine Moynihan, R. (2003).
The Promotion and Marketing of OxyContin: Commercial Triumph, Public Health Tragedy. American Journal of Public Health. 99(2), 221-227. Retrieved on December 2013 from Proquest http://search.proquest.com.ezproxy.trident.edu:2048/docview/215090238/142BCC1433412EFA5AA/1?accountid=28844 Weber, Leonard J. (2006, March).
PR Newswire. http://proquest.umi.com.ezproxy.liberty.edu:2048/pqdlink?vinst=PROD&fmt=3&startpage=1&vname=PQD&RQT=309&did=1844533951&scaling=FULL&vtype=PQD&rqt=309&TS=1333049930&clientId=20655 The New York Times. (2012). Business Day. Retrieved from NY Times.com: http://topics.nytimes.com/top/news/business/companies/oramed-pharmaceuticals-inc/index.html
2004. “Savings from Generic Drugs Purchased at Retail Pharmacies”, http://web.archive.org/web/20080223131005/http://www.fda.gov/cder/consumerinfo/savingsfromgenericdrugs.htm. Meurer, Michael. “Pharmacogenomics, Genetic Tests, and Patent-Based Incentives”, Boston University School of Law. Pages 1-8.
For those providers hoping to become a global supplier, regulatory policies become even more significant barrier to entry due to the complexity of navigating regulatory policies that vary from country to country. The cost of ensuring compliance with all of the regulations is additional contributor to the barrier of entry. Lastly, considering all the costs, what makes it even harder to enter is the fact that often prices of the products aren’t set by market supply and demand, but by government policies that serve the purpose of perhaps reducing the healthcare burden on people in need. (ibis
1. Dave, D., & Saffer, H. (2012). Impact of Direct-to-Consumer Advertising on Pharmaceutical Prices and Demand. Southern Economic Journal, 79(1), 97-126. Retrieved November 11, 2013, from http://web.ebscohost.com.ezp1.lib.umn.edu/ehost/detail?sid=3d4ba3e1-10ba-4c42-ba37-18cca35f5bef%40sessionmgr10&vid=1&hid=24&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=keh&AN=79748769 This article examines the impact of DTCA expansion on pharmaceutical expenditures, sales, and prices.
A framework for marketing management: Integrated with PharmaSim. Upper Saddle River, NJ: Pearson Prentice Hall. Mathews, A., & Rockoff, J., (2011, July 22). Megadeal unites drug rivals. Retrieved from http://online.wsj.com/article/SB10001424053111903554904576459924273283808.html National Community Pharmacists Association (2011).
Psychology is an academic and applied discipline that involves the scientific study of mental functions and behaviors. (Merriam-Webster). The psychology behind why this industry is a booming one is because people feel pressured to get it. The media is throwing images of perfect people at us on a daily basis. According to Dr. Carter Abbott who is the owner of Omaha Med Spa and also works there, “The use of photo shopping in print media is the biggest reason people get plastic surgery or cosmetic enhancements, but what is promoted are unrealistic images that make people feel bad about themselves and create an expectation that is very unrealistic.” Today’s society has created a certain image of what perfection looks like.