This relationship has an effect on the payment rates that CMS sets. Higher cost pharmaceutical therapies are systematically reimbursed below acquisition cost (i.e., the payment system is biased against full reimbursement for higher cost therapies). Reimbursement compared to acquisition cost for the top IO pharmaceuticals by total expenditures indicates that 9 of the 10 are significantly under reimbursed."
Clinical Trials Report:
Congress established Medicare beneficiaries numbering 40 million with a prescription drug coverage, which has been called a "vast expansion of federal support for and control of expenditures on medicines. Even in its early stages, this program is focusing public attention on prescription drug prices, marketing, utilization, and effectiveness." (Weschler, 2004) Further stated in the Clinical Trials report is that, " the Medicare drug benefit is expected to boost prescription drug use by seniors and provide incentives to develop therapies needed by elderly patients such as arthritis, cardiovascular conditions, and Alzheimer's…...
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Bibliography
Krupin, Stephen (2001) Study: Drug Costs Outpace Inflation. The Palm Beach Post; 6/13/2001; Washington Bureau
Congress approves Medicare drug benefit. (the Year in Review November '03) Chain Drug Review; 4/26/2004 Washington, 2004 Racher Press, Inc.
Pssst...Wanna Buy Some Augmentin" Forbes Magazine (2004) May 23, 2004
The Pharmaceutical Industry: From Bad to Awful (2004) the Economist November 27, 2004.
For example, before its paten ran out, "the price of Schering-Plough's top-selling allergy pill, Claritin, was raised thirteen times over fives years, for a cumulative increase of more than 50%, over four times the rate of general inflation." In 2002, the average price of the fifty drugs most used by senior citizens was approximately $1,500 for a year's supply, and although this refers to what the companies call the average wholesale prices, but is also roughly close to what an individual without insurance pays at the pharmacy.
The increase in research dollars and in GNP share contributed to the business cycle expansion as pharmaceutical firms increased their research and development and brought new drugs to market," says Michael Hood. For over two decades, the pharmaceutical industry has been by far the most profitable in the United States, but not particularly innovative, considering that only a few truly important drugs have…...
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Works Cited
Angell, Marcia. "The Truth About the Drug Companies." New York Review of Books:
Pharmaceutical Ethics Issues
Generally, business ethics is a concept that has not been upheld or exemplified to any high standard by the modern pharmaceutical industry. It is an industry frequently plagued by unethical marketing decisions and practices, the pursuit of business strategies and policies that violate public trust in spirit if not necessarily in the written word, and that has embraced research practices that are sometimes highly questionable. In the modern age of business globalization, those concerns are only magnified by virtue of the larger number of human lives potentially affected by unethical decisions and practices and by the additional availability of legal and arguable ethical loopholes in the pursuit of higher profits for pharmaceutical companies.
A Fundamental Problem: Profit vs. Public Health Concerns
The most fundamental ethical problem in the modern pharmaceutical industry is simply that the objective of maximizing profit by private business organizations is inconsistent with and often directly at…...
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References
Beauchamp, T.L. And Childress, J.F. (2009). Principles of Biomedical Ethics, 6th
Edition. Oxford University Press.
Halbert, T. And Ingulli, E. (2009). Law & Ethics in the Business Environment. Cincinnati:
Since its inception, the Food and Drug act developed into the Food and Drug Administration, which is responsible for oversight and administration of the rules. Once an application to test a new drug compound has been approved, it must pass a series of tests. Only about 23% of all drug compounds that enter into Phase I ever make it through this phase and into the second phase (Scherer, 2000). This failure rate means a lot of wasted money in the research and development stages of product development. This means that the drug companies have only a slim chance to see profit from any of their ideas and efforts. The efforts of pharmaceutical companies fail many more times than they result in success. Capital investment in new drugs is risky business. Government regulation limits the company's chances for success. This factor makes the investment of initial capital for research and development…...
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References
Aruru, M. & Salmon, J. (2008). Medical and Pharmaceutical Outsourcing to India. Journal of Pharmaceutical Finance, Economics, & Policy. 16 (4): 43-65.
Bhatti, T., Einarson, T. & Austin, Z. et al. (2008). The Impact of Financial Incentives on Pharmacist Dispensing Habits: Evidence from the British Columbia Product Incentive
Patents in the Pharmaceutical Industry
Intellectual property theft through piracy and counterfeiting has risen dramatically over the last couple of decades. As a result, the level of activity of pirates and counterfeiters has increased, and so has the scale of organizations participating in the same. The pharmaceutical industry, which forms the basis of this text, has been widely affected; more than "90% of donor-funded HIV medicines" in the market today are generic (ITPC Factsheet, n.d., p. 1). Patents are a major instrument in the enforcement of intellectual property rights.
What exactly do patents protect in the pharmaceutical industry?
A patent on a drug gives the owner, in this case the inventing pharmaceutical company, the exclusive "right to prevent others from making, using, importing, or selling it" (Elliott & Bonin, 2002, p. 1). Intellectual property law was incorporated into the global trading system with the 2005 passage of the TIPS (Trade elated Aspects of…...
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References
Elliott, R. & Bonin, M. (2002). Patents International Trade Law and Access to Essential Medicines. University of Michigan Library. Retrieved 19 July 2014 from http://www.umich.edu/~spp638/Coursepack/ipr-msf.pdf
Sick: The Untold Story of America's Health Care Crisis -- and the People Who Pay the Price.
Brief summary of the book, including strengths and weaknesses
Jonathan Cohn's "The Untold Story of America's Health-Care Crisis and the People Who Pay the Price" provides a detailed account of challenges that exist within the current healthcare system. The book highlights true stories from five years of travel conducted by the author. During his travels, he interviewed everyday citizens facing difficult circumstances in terms of insurance policies, claims, reimbursements, coverage exclusions and high costs. Examples includes a story of New Yorkers who followed all protocol and still found themselves without insurance when they needed it most, and a Florida woman with diabetes, viewed as a pre-existing condition by most insurers, who faced similar hardship due to self-employment and coverage refusals.
Most of the chapters detail a unique situation of a family, couple or individual and how…...
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References
Aaron, H.J. (2011). How Not to Reform Medicare. New England Journal of Medicine. pp. 1588-1589. doi:10.1056/NEJMp1103764.
Cohen, J. (2007). Sick: The Untold Story of America's Health Care Crisis -- and the People Who Pay the Price. New York: Harper Collins.
Deinard, A., & Russell, B.D. (2011). APHA Health Home. Access, 25(7), 20-23.
Gardner, D.B. (2012). Quality in Life and Death: Can We Have the Conversations?. Nursing Economics, 30(4), 224-227.
Corporate Social esponsibility in Indian Pharmaceutical Industry
An Exploratory Study
Outlook of CS in India
History of CS in India
Philanthropy in Indian Society
Modern Form of CS in Indian Society
Profile of Indian Pharmaceutical Industry
ationale for Selection
CS Activities by Indian Pharmaceutical Companies
Major Influences Over CS Activities
Scope of CS Activities
Comparison of Indian & Western Pharmaceutical Companies
This research paper is concerned with the recent practices of Indian pharmaceutical companies in the field of corporate social responsibility. For this purpose, various research questions were devised which were intended to explore the scope and nature of these CS activities in comparison with international practices. The research was based on secondary data available on the subject matter. A careful analysis of the given information revealed that the concept of CS is not new Indian pharmaceutical industry.
Instead of being based on specialized management theories, these CS practices are driven by social, cultural and economic factors. Secondly, the history of subcontinent has…...
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References
Agarwal, S. 2008, Corporate Social Responsibility, New Delhi: Sage Publications.
Arora, B. And Puranik, R. 2004., "A review of corporate social responsibility in India," Development, 47( 3), pp. 93 -- 100.
British Council, UNDP, Confederation of Indian Industries and PricewaterhouseCoopers. 2002. Corporate Social Responsibility Survey India 2002, New Delhi.
Bruch, H. 2005. The keys to rethinking corporate philanthropy. MIT Sloan Manag. Rev., 47(1): 49-59.
Marketing Management
While the pharmaceutical industry generally designs marketing campaigns to focus on customers, leaders in this sector must be able to set themselves apart from their competitors . In ideally achieving a leadership role in this industry, such a firm would likely have developed a strong sense of reliability and loyalty among its customers. Furthermore, as customers will directly interact with the final products, it becomes increasingly important for a leading organization to ensure that its products are readily available and better advertised (relative to its competitors) in order to maintain a leadership position. This is regularly accomplished by ensuring superior quality and service through strategic research and marketing.
A follower in a mature market should certainly emphasize the importance of the customer and his or her needs. This type of market segment implies a more sophisticated and knowledgeable customer base. Therefore, such demographics will demand high quality production and service.…...
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Bibliography
Angell, M. (2002). The Pharmaceutical Industry: To Whom is It Accountable? The New England Journal of Medicine, 3 (42), 1902-1904.
Bernard, J.C., & Schulze, W. (2000). Teaching Marginal Cost, Supply, and Efficiency with an English Auction Experiment. Journal of Economic Education, 52-59.
Dalgic, T., & Leeuw, M. (2001). Niche Marketing Revisited: Concept, Applications and Some European Cases. European Journal of Marketing, 28 (4), 39-55.
Henry, A. (2003). How Buzz Marketing Works. International Journal for Young Consumers: Insight and Ideas for Responsible Marketers, 4 (3), 3-10.
Pfizer
The Economics of the Pharmaceutical Industry -- Focus on Pfizer Drugs
Specify on some background of the company
According to its official website, Pfizer Incorporated "discovers, develops, manufactures, and markets leading prescription medicines for humans and animals and many of the world's best-known consumer brands. Our innovative, value-added products improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives. The company has three business segments: health care, animal health and consumer health care. Our products are available in more than one hundred and fifty countries." (Official ebsite 2004)
Although Pfizer's claims to offer value to its consumers may be debatable, its contention that it is the leader of the industry in sheer dollar terms cannot be disputed. Of particular value to Pfizer as a stock has been its patent of the drug Viagra, and it continues to capitalize upon its dominance as an…...
Japanese-American Biopharmaceutical Industry in the 21st entury
Optimizing Ethical Drug Availability
Between These Two
Pharmaceutical Superpowers"
The Japanese-American biopharmaceutical industry represents an ongoing international effort between the two top pharmaceutical markets in the world. These two economic powers provide consumers with a majority share of all pharmaceuticals produced in the world. However, a number of pharmaceutical products that are currently available to U.S. residents are unavailable to Japanese consumers. From a humanitarian perspective, this discrepancy denies access to life-enhancing and life-saving drugs to the Japanese population. An economic perspective indicates that excluding pharmaceuticals from the Japanese market causes an increase in prices in other markets, since fewer pharmaceuticals can be sold on a worldwide basis.
The problem that will be addressed in this study is how the United States and Japan can work collaboratively to optimize the availability of ethical pharmaceuticals so that every American and Japanese citizen is permitted free access to life-enhancing and…...
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Chart 1: The total global pharmaceutical expenditures for research and development initiatives by country
Figure 2: The Japanese expenditures from 1975-1990
Figure 3: The primary incidence of specific diseases in Japan
38 per share on the company's common stock for the first quarter of 2005. The dividend is payable January 3, 2005 to stockholders of records at the close of business on December 3, 2004. Growth in the ZETIA and VYTORIN franchises are expected to continue. T
There are currently several candidates in Phase III that Merck plans to file in 2005 as well as Type 2 diabetes treatment and three vaccines. The fourth-quarter 2004 EPS anticipation is stated to be $0.48 to $0.53, which includes the impact of approximately "$700 to $750 million foregone sales of VIOXX. The result is anticipation by Merck for EPS guidance (2004 full-year) of $2.59 to $2.64. These amounts include withdrawal impact and next years negative affects of the DPS by $0.50 to $0.55."
Merck & Co., Inc. announced in a recent report that they had made submission to the U.S. Food and Drug Administration (FDA) PROQUAD,…...
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Bibliography:
"Merck Board Appoints Special Committee to Review VIOXX Withdrawal" 2004 Dec 2 Whitehouse Stations, N.J. [Online] available at: room/press_releases/corporate/2004_1207.htmlhttp://www.merck.com/news
There are two constant irritations in U.S. pharma companies' relationships internationally:
Some developing nations, such as India, razil and South Africa, are chipping away at the patent situation, trying to shorten the time until the drugs can be brought out in generic form.
The U.S. has supported high prices as the cost for innovation. Since other countries are not playing along, this means that their citizens are benefiting from the innovation paid by Americans.
Conclusion
ig Pharma is at a crossroads today. The previous "great" chronic diseases, like diabetes, heart disease, infectious disease (viral and bacterial) have now been tackled by "blockbuster" drugs.
The high regulatory pressures, price pressures and lack of future such blockbuster markets dictates that pharma companies will have to innovate a lot more in niches -- more products, smaller markets. The large pharma companies which grew up in a time of plenty will therefore have to radically change how they do…...
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Bibliography
Bureau, U.S. Census. (2001). An Aging World. Washington, DC: U.S. Census Bureau.
Economist. (2007, October 25). The Pharmaceutical Industry: Beyond the Pill. Economist, p. n.p.
Economist. (2007). World Atlas. London: Economist.
Herper, M. (2007, October 29). Drug Drought. Forbes, p. n.p.
McKesson Corporation (Mckesson) is an American pharmaceutical distributor with operations mainly in the U.S. The firm has been in operation since 1833, and boasts extensive market share, robust financial strength, and strong market power. The firm has built strong relationships with its key stakeholders, which adds to its strengths. Nonetheless, limited diversification and market focus as well as the threats of competition, unfavourable regulatory changes, and counterfeits present significant concerns for the company. To enhance its competitive advantage in the rigorously competitive pharmaceutical landscape, it is imperative for the firm to take advantage of consolidation, strategic partnerships, increased healthcare expenditure, and emerging markets.
Introduction
McKesson Corporation (Mckesson) is an American health care company involved in the distribution of pharmaceutical productions as well as provision of health information technologies and care management tools majorly in the U.S. With a history that stretches back to close to two centuries, the organisation has grown to…...
Benn, S., Abratt, R., & O'Leary, B. (2016). Defining and identifying stakeholders: views from management and stakeholders. South African Journal of Business Management, 47(2), 1-11.
Chae, B., Olson, D., & Sheu, C. (2014). The impact of supply chain analytics on operational performance: a resource-based view. International Journal of Production Research, 52(16), 4695-4710.
Sustainability in Pharmaceuticals Industry
Ethical Pricing in the Pharmaceutical Industry
The reality of medicine if the modern era is that resources must be allocated to help support the development of new pharmaceutical and in turn, there must also be a way to compensate those who devote their resources to help cure some of the preventable diseases that plague the modern age. The moral issue at stake here is distributive justice, and Rawls' framework is especially germane since it underlines the material benefits everyone deserves as Kantian persons and the need for an egalitarian approach for the distribution of society's essential commodities such as health care; the concern for distributive justice should be a critical factor in the equation of variables used to set prices for pharmaceuticals (Spinello, 1992).
For example, the question of how humanity delivers on a social scale that advances that humanity makes is among one of the essential questions in…...
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Works Cited
Buckley, J., & Seamus, T. (2005). International pricing and distribution of therapeutic pharmaceuticals: an ethical minefield. Business Ethics, 127-141.
Cocks, D., & Virts, J. (2014). Pricing Behavior of the Ethical Pharmaceutical Industry. Journal of Business, 349-362.
Freeden, M. (2008). Failures of Political Thinking. Political Studies, 141-164.
Spinello, R. (1992). Ethics, pricing and the pharmaceutical industry. Journal of Business Ethics, 617-626.
Drug Development (From Nature to the Market)
The process of drug development is a complex one. The pharmaceutical industry is required to adhere to strict governmental regulations, set out by the Food and Drug Administration (FDA), which involve numerous phases of testing and clinical trials, close monitoring of the drug's effects on users, its stability, dosage forms (the preparation), and so on. This paper will describe the drug development process, as it proceeds from nature to the market.
Drugs that eventually make it to the marketplace can come from a variety of sources -- plants, animals, microbes, synthetic chemistry, biotechnology, and even modified molecules. Years of research and billions of dollars are invested by pharmaceutical companies as they seek out new, potential drugs for the market. All of this effort has resulted in the FDA's approval of 1,200 drugs for the marketplace since 1950 (Munos 960). The "recipes" that have gone…...
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Works Cited
Bamelis, Lotte; Evers, Silvia; Spinhoven, Philip; Arntz, Arnoud. "Results of a Multicenter Randomized Controlled Trial of the Clinical Effectiveness of Schema Therapy for Personality Disorders." The American Journal of Psychiatry, vol. 171, no. 3 (March 2014): 305-322.
Coustasse A, Kimble CA, Stanton RB, Naylor M. "Could the Pharmaceutical Industry
Benefit from Full-Scale Adoption of Radio-Frequency Identification (RFID) Technology with New Regulations?" Perspectives in Health Information Management (Fall, 2016). http://perspectives.ahima.org/couldpharmabenefit/
Munos, Bernard. "Lessons from 60 Years of Pharmaceutical Innovation." Nature
For a research paper on the significance of the pharmaceutical industry and the business aspects of that, you could consider:
* Strategic management of the pharmaceutical companies.
* The overall business model for pharmaceutical companies.
* Problems that are facing the business aspect of the industry.
* How changing laws are affecting the pharmaceutical business.
There are others, of course, and you can also narrow down one of the options here to provide something more specific. Maybe pick a particular pharmaceutical company and do an analysis on how the health care law may affect it? Finding a topic that's narrow enough is key, so....
## Chemical Reactions: The Foundation of Everyday Life
Chemical reactions, the fundamental processes that alter the composition of matter, play a ubiquitous and profound role in shaping our everyday lives. From the air we breathe to the food we consume, from the clothes we wear to the medicines we take, chemical reactions are the driving force behind countless phenomena that permeate our existence.
### Food and Nutrition
Chemical reactions are essential for the digestion and metabolism of the food we eat. Enzymes, which are proteins that catalyze chemical reactions, break down complex carbohydrates into simpler sugars, fats into fatty acids and glycerol, and....
Factors Contributing to Healthcare System Inflation Healthcare system inflation refers to the persistent increase in the cost of healthcare goods and services over time. Understanding the underlying factors driving this inflation is crucial for policymakers and healthcare stakeholders to address this complex issue. 1. Technological Advancements: Technological advancements, such as advanced imaging techniques, robotic surgery, and personalized medicine, have revolutionized healthcare but come at a significant cost. These innovations enhance patient outcomes but also increase the overall cost of care. 2. Rising Drug Costs: The pharmaceutical industry plays a major role in healthcare inflation. Patent protection, exclusive licensing, and direct-to-consumer advertising contribute to high drug....
1. The potential of plasmids as gene therapy vectors for curing genetic diseases 2. The role of plasmids in CRISPR/Cas9 gene editing and their applications in curing diseases 3. The use of plasmids in developing novel antibacterial treatments 4. The ethical implications of using plasmids for curing diseases 5. The challenges and limitations of using plasmids for gene therapy and disease curing 6. The history and evolution of plasmids in biotechnology and medicine 7. The potential for personalized medicine and targeted therapy using plasmids 8. The future prospects of plasmid-based treatments for curing diseases 9. The impact of plasmid research on the pharmaceutical industry and healthcare systems 10. The....
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