What is a pharmaceutical company’s main objective? You might think it is to cure people of illnesses or even make people healthier. However new research and public information shows that while they work in health care health is not what they are starting distribute. “A pharmaceutical company, or drug company, is a commercial business licensed to research, develop, market and/or distribute drugs, most commonly in the context of healthcare. They can deal in generic and/or brand medications.” Although they are a vital part of any economy and health field there are many problems with in the medical industry such as (a) the focus of money, (b) drug abuse, (c) over consumption and (d) severe side effects. Pharmaceutical companies should be better managed and regulated in the United States. There is an unethical balance in how the industry is controlled. They are in it for profit not treatment. …show more content…
The government and FDA should be put in question to why these things are happening. Almost 5 billion dollars are used for prescription drug abuse and yet it seem like the government is doing a horrible job at controlling the problem. The fact that they have allowed companies to do as they wish for the most part should create new waves of protest. The fact is that medical companies and doctors are not the only ones to blame on how the companies run and how far they reach. You can’t tell separate doctors from pharmaceutical companies. Sense the implementation of Obamacare the number of people addicted has risen. This calls for a reform on how things are run. Medicine is not the problem and that’s what medical companies do create medicine which cost a great mount to from start to finish product to produce and distribute to people. Pharmaceutical companies do in fact provide a much needed service to people and that will not
Abramsons points are well taken, and it truly is a shame that the medical industry has become a business. In my opinion, if the pharmaceutical industry was taken out of the hands of the capitalist marketplace and given the to the government, it would become less of a business. Prescription drugs are not ordinary consumer goods; they are products that can ultimately save lives. If a money-oriented company controls these products, it is inevitable selling the drug would become a greater priority than actually creating a beneficial drug. Which as a result, will to the creation many well-marketed yet ineffective
The pharmaceutical industry develops, produces, and markets drugs or pharmaceuticals compounds for medical purpose. Pharmaceutical companies produce generic, brand medications and medical devices. The industry is subject to a complex regulatory environment regarding the patenting, testing and ensuring safety and efficacy and marketing of drugs.
When people think of pharmaceutical companies, they instantly associate the word pharmaceutical with medicine. There are scientists solely dedicated to find the remedy to cancer and incurable diseases. These professionals have devoted their educated lives to help the ailing human population recover.
The United States of America accounts for only 5% of the world’s population, yet as a nation, we devour over 50% of the world’s pharmaceutical medication and around 80% of the world’s prescription narcotics (American Addict). The increasing demand for prescription medication in America has evoked a national health crisis in which the government and big business benefit at the expense of the American public.
T-Writer, EW, met with client SM to work on his recovery goal of medication management.
Large pharmaceutical industries are making large profits on medications. Having such a high cost for medication prevents patients from receiving the care that they need. These companies are overcharging for medications that are essential to maintaining the health of patients. This may result in patients resorting to desperate measure such as stealing, crime, and other illegal acts. The pharmaceutical industry may require a different set of moral standard because in a way these laws are preventing patients from a quality life. It is not ethical for pharmaceutical industries to make large profits on medications. Pharmaceutical industries that continues to make large profits from patients who needs their medication impairs their quality of life.
Why do consumers purchase specific drugs for various ailments, sicknesses or diseases they might have? Why do physicians prescribe certain drugs over competitive drugs that may be available to the public? Why is it that most of us can easily name specific drugs that fit the many ailments of today’s society? On the surface the answer might be as simple as good TV advertising or radio commercials or even internet adds. The truth of matter is the major pharmaceutical manufacturers own the patents on these drugs and this gives them all of the marketing budget and muscle they need to promote the drug and control the pricing. The incentives for larger pharmaceutical companies are very enticing and as a result, they don’t mind spending the time in clinical trials and patent courts to get their drugs approved. Some will even get patents on the process by which the drug is manufactured, ensuring that no competitor can steal the drug or the process. This protects their large financial investment and nearly guarantees a large return for their investors. Many consumer rights groups claim this is nothing more than legalizing monopolies for the biggest manufacturers.
Pfizer is one of the largest pharmaceutical companies in the world, its headquarter locates in the US. Pfizer financial report of its fourth-quarter claim a 3% decline in sales diverted to $13.12 billion from Q4 2013 and recording a 4% decline in adjusted profit per share to $0.54 [35]. The challenges that Pfizer face can be generalized to an industrial challenge and the global economic environment challenge [29]. For intellectual rights, Pfizer products, including BeneFIX, ReFacto, Xyntha and Enbrel will have to compete biosimilars (also referred to as follow-on biologics) in the future just when competitors obtain marketing approval for biosimilars or when patent expiated [29]. There are other challenges that put Pfizer
In America, it has become a battle to earn a high paying job to cope with the expenses of a typical American. It has become even more of a battle for some people to afford medical prescriptions to keep healthy. Health becomes a crucial issue when discussed among people. No matter what, at one point or another, everyone is going to stand as a victim of the pharmaceutical industry. The bottom line is Americans are paying excessive amounts of money for medical prescriptions. Health-Care spending in the U.S. rose a stunning 9.3% in 2002, which is the greatest increase for the past eleven years. (Steele 46) Many pharmaceutical companies are robbing their clients by charging extreme rates for their products.
Something is wrong with the focus on the "drug war" when 200,000 people die each year from prescription drugs, yet only 20,000 die from illegal drug use. Adverse reactions of prescription drugs are the third leading cause of death in America. In fact, people have a seven times greater chance of dying walking into their doctor's office than they do getting behind the wheel of their car! Every year approximately 200,000 souls die from prescription drug reactions with another 80,000 dying from medical malpractice (The International). Where is the FDA? Why do they continue to allow doctors to prescribe these drugs? How could they let it get to this point? What once was believed to be a panacia for depression has turned into Pandora's box (Tracy).
Per capita spending on prescription drugs in America is far greater than any other country. Kesselheim goes on to say that this is a natural result of America’s free market approach to healthcare resulting in monopolies. These healthcare monopolies are not held accountable for their high drug prices. The claims that these costs can be justified through research and development is rubbish, according to
The first social problem surrounding the health care system in the United States is the growing problem with pharmaceutical companies. The industry averages a 17% profit margin and it has been booming for decades, but the industry is being heavily led by a core group of companies (Dr. Pratt). “In 1992 the top 10 companies accounted for roughly one-third of global pharmaceutical revenue, after a period of consolidation, by 2001 the top 10 accounted for nearly half.”( Leon-Guerrero, Zentgraf, 172). These companies hold a large majority of the market share and make most of their money off patented drugs. This growing core of companies that are dominating the market are causing more problems rather than solving them. These companies are all about making as much money as they can and it shows through the salaries of the executives of these companies (Dr. Pratt). The pharmaceutical industry should have their number one priority be to the users of their products rather than profit gains.
Studies have shown that about 90 people die a day from an opioid overdose. According to “The Opiate Epidemic – A Conspicuous Conspiracy,” “The simple truth here is that the pharmaceutical industry makes a lot of money when people buy and then become addicted to opiate pain pills. From a business standpoint, pharmaceutical companies profit when people take drugs for pain, and those profits increase dramatically when addiction is involved as such pill pushers then have convenient, lifetime customers.” Many think the Big Pharma is the cause of the outbreak for the profit. They are money hungry and what is a better way of getting money than getting your citizens addicted? Nothing because with an addiction the people will do anything to get their hands on the drugs and pay whatever price is needed. On account that the Big Pharma is so money hungry would they ever release the cure for cancer? What about
Government factors into the equation of the argument. Critics of the drug industry say that there is not enough regulation, while supporters of the pharmaceutical companies argue that there is too much regulation and that that is one...
Med-Pharmex Incorporated is known nationally and abroad as a pharmaceutical manufacturer of animal-related products. Before gaining fame worldwide, the business began its journey to success as a small lab in 1983, which slowly grew over time. Since then, the company maintains its main goal, and that is to produce drugs that promote the health of companion animals, such as dogs, cats, and horses, as well as food-producing animals, such as pork and chickens. To ensure legal responsibility, the company’s manufacturing process is examined by the United States Food and Drug Administration (FDA). Med-Pharmex works closely with veterinary clinics who purchase their life-saving drugs and represent them in the market. Despite manufacturing drugs, the