654+ documents containing “pharmaceutical industry”.
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….
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….
Angell, Marcia. "The Truth About the Drug Companies." New York Review of Books:
Volume 51, Number 12. July 15, 2005. Retrieved October 24, 2005 at http://www.nybooks.com/articles/17244
Ault, Alicia. "Pharmaceutical industry: Still booming after all these years." The Black Collegian. February 2000. Retrieved October 24, 2005 at http://www.findarticles.com/p/articles/mi_qa3628/is_200002/ai_n8887858#continue
Felton, Michael J. "Pharmaceutical Job Market Still Growing and Glowing."
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….
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….
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
Plan. Journal of Pharmaceutical Finance, Economics & Policy. 16 (4): 35-56.
Capri, S. & Levaggi, R. (2008). International Price Regulations in the Pharmaceutical Sector: A
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….
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
ITPC Factsheet. (n.d.). Treatment 2.0: The Facts for Community-Based Service Providers and AIDS Advocates. International Treatment Preparedness Coalition. Retrieved 19 July 2014 from http://www.itpcglobal.org/atomic-documents/11057/20005/4-Trade%20Fact%20Sheet.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….
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….
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.
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.….
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.
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….
Danizon, Patricia. (2002) "Parallel Trade and Competitive Pricing of Medicine." Retrieved on July 15, 2004 at http://www.pfizerforum.com/english/danzon.shtml
EGA: European Generic Drug Association (2004) Retrieved on July 15, 2004 at http://www.egagenerics.com/gen-econgenerics.htm
Investopedia. (2004) "Monopolies, Oligopolies, and Perfect Competition." http://www.investopedia.com/university/economics/economics6.asp
Pfizer. (2004) "About Us." Official Website. Retrieved on July 15, 2004 at http://www.pfizer.com/are/index.html
Japanese-American Biopharmaceutical Industry in the 21st entury
Optimizing Ethical Drug Availability
Between These Two
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….
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,….
"Merck Board Appoints Special Committee to Review VIOXX Withdrawal" 2004 Dec 2 Whitehouse Stations, N.J. [Online] available at: http://www.merck.com/news room/press_releases/corporate/2004_1207.html
The global pharmaceutical market in 2000 - North America sets the pace (nd) [Online] available at: http://www.ims-global.com/insight/news_story/0103 / news_ story _010 314.htm
Merck Announces Voluntary Worldwide Withdrawal of Vioxx 2004 Sep 30 [Online] available at: http://www.vioxx.com/rofecoxib/vioxx/hcp/hcp_notification_physicians.jsp
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.
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….
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.
Johnson & Johnson: Three of the Five ForcesIntroductionJohnson and Johnson is a multinational pharmaceutical company that operates in a highly competitive industry. The three forces of competition in the industry, potential of new entrants, and power of suppliers are significant factors that affect the company\\\'s business operations and success. This paper provides an analysis of these three forces and their impact on Johnson and Johnson.Relevance of the Three Forces to the Pharmaceutical IndustryThe three forces of competition in the industrypotential of new entrants, and power of suppliersare critical factors that affect the pharmaceutical industry\\\'s operations and success (Porter; Sultana). There are many reasons for this. First off, competition in the pharmaceutical industry is intense, and companies must continually innovate and develop new drugs to stay ahead of the curve (Olasiuk). This was seen recently in 2020 as companies tried to be the first to market with a COVID vaccine. To….
Works CitedGassmann, Oliver, et al. \\\\\\\\\\\\\\\"The Industry Challenge: Who Would Want to Be in This Business?.\\\\\\\\\\\\\\\" Leading Pharmaceutical Innovation: How to Win the Life Science Race (2018): 17-39.Leeuw, Bas J. de, Peter de Wolf, and Frans AJ den van Bosch. \\\\\\\\\\\\\\\"The changing role of technology suppliers in the pharmaceutical industry: the case of drug delivery companies.\\\\\\\\\\\\\\\" International Journal of Technology Management 25.3-4 (2003): 350-362.Olasiuk, Hanna. \\\\\\\\\\\\\\\"Competitive forces on the Ukrainian pharmaceutical market: Evaluation aspects.\\\\\\\\\\\\\\\" Journal of Applied Management and Investments 6.3 (2017): 186-196.Porter, Michael E. \\\\\\\\\\\\\\\"The five competitive forces that shape strategy.\\\\\\\\\\\\\\\" Harvard business review 86.1 (2008): 78.Prayogi, Reynaldy, and Harimukti Wandebori. \\\\\\\\\\\\\\\"Proposed Strategy for Pharmaceutical Industry (Case Study: PT Bio Farma Persero).\\\\\\\\\\\\\\\" European Journal of Business and Management Research 5.5 (2020).Sultana, Jesmin. \\\\\\\\\\\\\\\"Future prospects and barriers of pharmaceutical industries in Bangladesh.\\\\\\\\\\\\\\\" Bangladesh Pharmaceutical Journal 19.1 (2016): 53-57.
Anglo American5-3. Because such a large percentage of its workforce consists of migrant workers who are more likely to acquire and spread HIV/AIDS, should Anglo adopt the policy of not hiring migrant workers? Should the South African government close the doors to migrant workers?Anglo should not discriminate against migrant workers just because of the HIV stigma. Stigma is a real thing and can do a great more damage to people than even the so-called disease might do. In Africa, the stigma of HIV is a serious risk that people do not want to accept (Anglo-American Case, n.d.). Therefore, many of them do not want to get tested. If a person does not want to get tested, his wishes and desires should be respected: after all, it is that persons body and a person should have autonomy over his own health and body. It is not Anglos job to test its….
ReferencesAnglo-American Case. (n.d.). Comparative Environmental Frameworks.News24. (2012). Aids is not killing African economies. Retrieved from https://www.news24.com/health24/Medical/HIV-AIDS/News/Aids-is-not-killing-African-economies-20120721 Rasool, F., & Botha, C. J. (2011). The nature, extent and effect of skills shortages on skills migration in South Africa. SA Journal of Human Resource Management, 9(1), 1-12.
New communication technologies require stricter scrutiny, as well. The threat of reprisal is the most effective measure against intellectual property right infringements, and for this reason one of the most essential actions that can be taken in this regard -- and frequently is -- is the filing of civil and criminal charges against companies that infringe upon these rights in an aggressive and uncompromising manner (Long 2000). This not only limits damages, but dissuades future infringement.
Protecting Other Firms
efraining from infringing on another company's tangible and intellectual property rights might be seem to be a simple task, but it does require that certain actions are taken by pharmaceutical company managers. First and foremost, knowledge of the property right laws in effect must be obtained and thoroughly understood in order to refrain from infringing upon them. With this knowledge in place, managers can ensure that any similarities that develop between their….
Ghauri, P. & Rao, P. (2008). "Intellectual property, pharmaceutical MNEs and the developing world." Accessed 17 January 2010. http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6W5M-4SY6YJR-3&_user=10&_rdoc=1&_fmt=&_orig=search&_sort=d&_docanchor=&view=c&_searchStrId=1171065541&_rerunOrigin=google&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=e667e8f8848aae7fd6fe1c222ed046d6
GTN. (2004). "Intellectual property summary." Accessed 17 January 2010. http://www.cid.harvard.edu/cidtrade/issues/ipr.html
Kaufman, J. (2008). "Intellectual Property Rights and the Pharmaceutical Industry." Accessed 17 January 2010. http://www.america.gov/st/econ-english/2008/April/20080429230451myleen0.4181027.html
Long, C. (2000). "Intellectual property rights in emerging markets." Accessed 17 January 2010. http://www.scribd.com/doc/2011460/Intellectual-Property-Rights-in-Emerging-Markets
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…Read Full Paper ❯
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…Read Full Paper ❯
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…Read Full Paper ❯
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…Read Full Paper ❯
Business - Miscellaneous
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…Read Full Paper ❯
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…Read Full Paper ❯
History - Asian
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…Read Full Paper ❯
Business - Advertising
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…Read Full Paper ❯
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…Read Full Paper ❯
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…Read Full Paper ❯
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…Read Full Paper ❯
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…Read Full Paper ❯
Johnson & Johnson: Three of the Five ForcesIntroductionJohnson and Johnson is a multinational pharmaceutical company that operates in a highly competitive industry. The three forces of competition in the…Read Full Paper ❯
Anglo American5-3. Because such a large percentage of its workforce consists of migrant workers who are more likely to acquire and spread HIV/AIDS, should Anglo adopt the policy of…Read Full Paper ❯
Business - Law
New communication technologies require stricter scrutiny, as well. The threat of reprisal is the most effective measure against intellectual property right infringements, and for this reason one of…Read Full Paper ❯