Big Pharma Research Paper

The pharmaceutical industry is one of the most powerful and greedy industries in our country, with a goal to make as large a profit as possible, at the expense of the sick.

In 2015, the pharmaceutical industry spent over 27 billion dollars on advertising. The two greatest components of this effort were promotional advertising and free medication sampling, which the pharmaceuticals invested 15.5 and 5.7 billion dollars respectively (“Persuading the Prescribers”). Promotional advertising involves direct contact with health professionals, the most common being extravagant lunch conferences held for physicians and their staff. On the other hand, sampling involves distributing free sample of medications to physicians, who then have a choice of providing these samples to patients. As a result of these methods, the industry has seen revenue around $400 billion with 90% of physicians having a relationship with a drug company (Campbell 2007). Moreover, the prices of prescriptions continue to rise; a copay of a generic drug is $11.72, preferred brand drug is $36.37 and a specialty drug is $58.37 (Coleman and Geneson 2014). Although the profits are immense in the numbers demonstrated above, it is no surprise when pharmaceutical drug companies elevate their prices even more. For instance, recently Turing Pharmaceuticals raised the price of their medication Daraprim from $13.50 to $750. Keep in mind, this medication is used for threatening parasitic infections, aids, and cancer with alternative options currently found to be inefficient (Pollack 2015). Another example of this practice involves cycloserine, a drug used to

Bell continued to interview a journalist named Greg Critser, who authored the book “Generation RX,” which is about the relationship between America and pharmaceuticals. He exclaims that drug companies advertise their product so much that it internalizes inside individuals that the drugs they’re selling are good and not poison, then he continued where the drug is somewhat of a poison where it kills another thing off to benefit another. Pharmaceutical companies also lobby the political side of their ambitions to cover up the negative side of their

The twenty-first century has seen pharmaceutical companies grow in unprecedented size and strength. Due to the unprecedented growth the larger pharmaceutical companies have gained leverage and power in the prescription drug industry, but they lack innovation to market and they seek ways to help the business continue to increase its profits. The pharmaceutical industry was once ethically sound and was a valuable player in the development of human health. However, overtime with the lack of innovation pharmaceutical companies are becoming an unethical market that exploits patients, doctors and anyone else it can to increase its profitability. With eyes only on profitability this can create a hazard for patients because there

We in America tend to take medications for almost any problem we have, from headaches to gastrointestinal pain, to more serious chronic disorders such as depression and attention deficit disorder. While many of the uses of such medications may be necessary and legitimate, many are not, and due to this fact, many people become dependent on medications, mentally, and or physically. This problem is not simply the fault of the individual; in fact, the blame can also be placed upon the medical community, and the pharmaceutical companies who produce the drugs. How often can one turn on the television to see advertisements for Claritin, Aspirin, Pepto-Bismol, or even Zoloft or Ritalin? The pharmaceutical industry is motivated by monetary

The implementation of the Affordable Care Act (ACA) will only hasten changes that were on the horizon for pharmaceutical and biotechnology firms. Pharmaceutical and biotechnology industries new there was going to be some type of healthcare reform so they began to take the necessary precautions to prepare. There are vital provisions in the ACA related to the pharmaceutical and biotechnology industry affecting Medicare and Medicaid. Legislation in the ACA will provide provision to reduce cost for brand name prescriptions (Rx); this will reduce drug cost for patients, but increase rebates and discounts for pharmaceutical and biotechnology firms, therefore, imposing cost to the firms. The pharmaceutical and biotech industry was instrumental

The pharmaceutical industry along with the manufacturers of healthcare products and technologies often encourage the misappropriation and distribution of marginally beneficial products and technologies in the healthcare industry. These companies often use various advertising methods to influence members of the public to request their products and services without adequate knowledge of their effectiveness and implications to their medical condition.

health makes alot of sense, but it doesn’t make alot of dollars” (Colquhoun), so the drug industry will proceed to feed pharmaceuticals to the public as long as it makes its shareholders filthy rich.

Over the past couple of decades, a sudden change has started to take over the way business is done. The time when no rules applied, and anyone could do what they pleased at the cost of others or the environment is rapidly ending. Instead, companies today have become aware that it is essential for them to employ ethics and morality in their actions, if not they will be heavily scrutinized and rejected by the public. This way of thinking also applies to the pharmaceutical industry, which over the past century has been rapidly expanding. Do to the fact that this industry can determine the health and lives of millions of people, it is imperative that this industry follow an ethical and moral path.

There is a need for greater transparency within the pharmaceutical industry and the media. Motivated

Society expects drug companies to improve people’s well-being and to behave like a nonprofit company not overly concerned with making large profits. However, investors

The corporate social responsibility states that "corporations can and should act ethically and be accountable to society for their actions." Pharmaceutical companies work to save lives and make a profit. Individuals should make sure that

Merck Research Laboratories and Pharmaceutical firms in the world. Scientist Dr. Campbell and Dr. Mohammad Aziz, have made great progress in developing a cure that will make a difference in disease called River Blindness. River Blindness is a disease known for being life-threatening to those who contract the disease. Its symptoms include severe itching throughout the body, skin disfigurations, and total if not permanent blindness. As chairman of Merck, it is my decision on whether to allow Dr. Campbell and Dr. Mohammad Aziz and their research team to continue or discontinue their research to find a cure for River Blindness. I must answer several question before arriving at my final decision. Questions such as: should as a company invest more time and money into developing ivermectin into a drug that is safe for humans knowing it will likely never be profitable, or should I put a stop to any further research knowing that it could negatively impact profits? I will need to gather facts about the disease, define what ethical issues our company are responsible for, look all those affected by the disease, what consequences will we suffer as a company, what our obligations as a company are, what does this decision same about our integrity as a company and me personally, and what potential actions or plans will need to be put in place. In making my decision, I will apply the Eight Steps to Sound Ethical Decision Making process to arrive at my final decision. This process will

Pharmaceutical companies should attempt to be as transparent as possible when marketing prescription drugs to the public. Their marketing efforts should not only convey the benefits of the prescription drug, but also easily convey the possible risks associated with the prescription drugs. Many patients may tend to think the benefits outweigh the potential risks of prescription drugs and may pressure their physician to prescribe it. Due to the way the prescription drug is marketed, the consumer may believe the

In general, despite small pockets of political opposition, the pharmaceutical industry commands substantial political and regulatory influence in the U.S...