we allow pharmaceutical companies to patent their drugs? We allow pharmaceutical companies to patent their drugs because this way they have exclusive possession as well as control of the supply along with trade of that drug for a certain period of time. This allows the companies to maximize their profits until the patent has expired as well as the chemical formula being given to other companies is sold as an over the counter generic drug. Pharmaceutical companies patent their drugs because
FINDINGS Pharma Company D/E DPS 2005 2013 ACGR 2005 2013 ACGR Dr Reddy Labs 5.4978 18.7173 16.5485 5 15 14.720269 Lupin Labs 11.005 6.20366 -6.9144 6.5 4 -5.888363 Glaxosmith Kline 0.043976 0.04888 1.32986 24 50 9.6086542 Sun Pharma 19.26678 0.41647 -38.078 3.75 5 3.661465 Cadila Healthcare 11.83121 16.0693 3.90133 6 7.5 2.8285594 Over the period of 2005-2013 , Dr.Reddy Labs has shown the highest growth of the dividend payouts of 14.72% and an corresponding D/E ratio increase
A herb-drug interaction is defined as any pharmacological modification caused by a herbal substance(s) to another exogenous-chemical (e.g. a prescription medication) in the diagnostic, therapeutic or other action of a drug in or on the body (Brazier and Levine, 2003). This relates to drug-drug interactions, herb-herb interaction or drug-food interaction. A herb can potentially mimic, magnify or reduce the effects of co-administered drugs and the consequences of these interactions can be beneficial
Pharmaceutical Representatives and Physicians: Defining a New Policy of Regulation The ethics surrounding the Pharmaceutical Industry in the United States and around the world have long been debated by not only healthcare professional, but the general public as well. Due to their high revenues rates and constant legal battles with the government and consumers, new regulations are constantly being developed. For example, in 2009, new voluntary regulations were put out by The Pharmaceutical Research
In the United States of America, prescription drugs are very high in price. People are always struggling to pay for their prescriptions. Some people work a couple jobs to pay their prescriptions. While other search for a job that has a good health plan. Many people end up working their lives away just to pay for their prescriptions. The price of prescription drugs is so high people struggle to pay for them. And the price of prescription drugs is only rising. A lot of people need their prescription
watches as many as nine drug ads a day, totaling 16 hours per year, which far exceeds the amount of time the average individual spends with a primary care physician” (Ventola 671). Prescription drug use in United States is at an all-time high, and there is evidence of how this rate is directly related to how often pharmaceutical drugs are advertised to the consumer (Donohue, Cevasco, Rosenthal 112). In 1962, Congress gave the Food and Drug Administration authority to govern drug labeling
starting the research. To continually be able to fund research, many pharmaceutical companies have raised the prices of current medications. The inflation of pharmaceutical medications has created much uproar amongst the consumers. The consumers are faced with the problem of being able to continually afford their medications. Consumers are arguing that their affordable health care is no longer affordable. Whereas the pharmaceutical companies are arguing that the inflation is to help better medicine
by the term pharmaceutical promotion. This refers to the persuasive activities performed by the distributors and manufacturers of prescription drugs. Pharmaceutical promotions are performed to encourage the supply, purchase, prescription, and use of different medical drugs. This promotion is crucial to stimulate prescription rates and generate the sales of pharmaceuticals. Pharmaceutical promotion affects a wide range of crucial elements, like the drug price-control techniques, drug distribution
the various debates involved in the field of pharmaceutical industry in reference to the lifesaving medicines and treatments. It is hardly a contested fact that there is something wrong in the way the Food and Drugs Administration (FDA) and the pharmaceutical industry works; keeping in mind that the prime objective of both the institutions is a moral one, one that involves the lives of many, i.e. insuring proper health and access to life saving drugs. Let us now take a glimpse at the story of Ron
description The drug manufacturing industry is concerned with the development, production and marketing of drugs which are to be used as medication. This is one of the oldest industries in the world. The first drug stores date back to the middle Ages. Some of today’s pharmaceutical companies have been founded in the beginning of the previous century. Important discoveries have been made in the early 20th century such as insulin and penicillin who became mass produced. More drugs were developed during
true that pharmacologists work in a laboratory and do research but they can do much more. Besides doing research on the effects of drugs, they also do research on “gases, powders and other materials on peoples’ and animals’ health” (smysp.stanford.edu). They also study and develop drugs to treat and prevent diseases and illnesses. Not only are they able to create new drugs to treat current diseases and illnesses, pharmacologists also perform tests on many substances. They carry out studies and research
Company Case Analysis The case under analysis, Eli Lilly & Company, will be covering the positives and negatives with regards to the business situation and strategy of Eli Lilly. One of the major pharmaceutical and health care companies in its industry, Lilly focused its efforts on the areas of "drug research, development, and marketed to the following areas: neuroscience, endocrinology, oncology, cardiovascular disease, and women's health." Having made a strong comeback in the 1990's due to its
manufacturing, distributing and dispensing of drugs. The practice of pharmacy encompasses universal roles, which include compounding and disbursing of medication, examining the safety and effectiveness of the medications and providing information on them. As a child, being ill scared me because I feared taking medicine, but I knew it was one of the most efficient way to recover from illness. At such a young age, I asked myself “How is it that by taking drugs, one’s body miraculously gets better?” From
INTRODUCTION Pharmaceutical error refers to any unintended error in prescribing, dispensing or administering a medicinal product in control of health care professional. Drug use is a very complex process and there are drug related challenges at different levels, involving prescribers, pharmacists and patients. Medication errors can occur anytime, anywhere in the health care system from prescriber to dispense to administration and lastly to patient use. There are many errors that can be prevented
Medieval Apothecaries An Apothecary was a pharmacist in the Middle Ages. Apothecaries kept a shop or store of such nonperishable resources as spices, drugs, and preserves. Apothecaries prepared and sold what we would call today, drugs, but it was not until the end of the eighteenth century that the profession of apothecary was clearly recognized. Apothecaries, mostly men, were the first ones believed to trade in the Middle East. The knowledge of apothecaries gradually transmitted into Europe from
placed on the pharmaceutical market are tested and analyzed at all angles and perspectives to ensure they work effectively and successfully resulting in moderate to no side effects. The progressive industry of medicine has greatly increased since the early nineties thanks to the advancement in medical technology making
Procter, Jr. (1817-1874) William Procter, Jr. is revered as the “Father of Pharmacy”. He worked in a drug store beginning at the age of fourteen. He spent his free time studying chemistry and pharmacy, and eventually opened his own pharmacy. In addition to being hired as a professor of pharmacy, he was also one of the founders of the
capita on prescription drugs than any other country in world.1 In 2015, the US spent over $1000/person on prescriptions and was between 30% to 190% higher than 9 other high income countries studied.2 Total expenditure on pharmaceuticals in the US ranges between 10% (in pharmacy settings) to almost 17% of National Health Expenditure in all health care settings.2.3 Factors that determine a country’s expense on pharmaceuticals include volume of drugs/country’s population, drug utilization per person
successful pharmaceutical companies that is enjoying a status as a nurturing, ethical and well-run business that manufactured high-quality healthcare products. Thus, saved millions of inhabits and enhanced the value of life for millions of people. The company provides free and discounted pharmaceuticals to low-income customers on the base of sponsors health care informative programs and scholarships. Two years before, after PharmaCARE 's research identified that one of its peak trading diabetes drugs (AD23)
An issue in the past year within a privately held company called Turing Pharmaceuticals brought up questions on whether the choice made by the company were ethical or unethical. An article by Steven Brachmann, published on September 24, 2015 gives us an overview of this. Overview: Pyrimethamine, a prescribed medicine for Toxoplasmosis which results from infection with a parasite found in cat feces and contaminated food, which is marketed under the brand name Daraprim was the main substance of this