“What I learned from the film was that generic drugs are selling better than the branded medication I assume it is because of the cost, of the branded are too high for consumers in the United States to afford to buy it. In the United States the pharmaceutical company’s go through a strenuous trial before they can get a patent for a medication to sell to the public. They are under strict regulations in the United States by the Federal Food & Drug Administration, they go through clinical trials before they can get a patent for medication to be distributed to the public. It also references the point that weak nations must have access to reasonably priced medications, treatments and vaccines is also creating a huge opportunity such as Africa. …show more content…
They can make billons by selling generic medications to developing countries abroad, from the film it states there will be a 20% increase in evolving markets by 2020. These generic medications are marketing fast because of the price for the medicine. (www.utube.com, 2014)”.
Physical condition expenditures in the U.S. remained approximately ninety percent greater than in several other developing states. The shared potential reasons are elder costs, additional willingly accessible gear, and overweight says: the Kaiser family foundation. Source: Kaiser Family Foundation, May 2012. Roughly seventy-five percent of health care money are exhausted on patients between one or additional frequent situations, some of them can be stopped, counting sugar, overweight, respiratory failure, lung infection, high plasma, and cancer. (www.mdvip.com.2014).
America has the greatest amount of medicated citizens comprehensively in addition to the least healthy. America distributes ample currency on behalf of health care, America should have the finest organization of the world, and however, something has gone very improper. Practically 1/2 of Americans, currently uses medication on a regular base according to a CDC report that was newly released. Permitting the analysis, roughly 1/3 of citizens consume two or greater, pharmacological medicines, and ten percent of all Americans’
The Medicines Company used the saying “one man’s trash is another man’s treasure,” to the next level. It essentially took what other pharmaceutical companies place on the shelves and never use again as their next product which becomes a money maker. The idea is a great idea if it is well executed. The company cannot take just any type of drug and try to execute it pouring in millions of dollars’ worth of research and development because if the product is not chosen carefully, the product will fail. A simple failure for a drug that was not carefully selected, can damage the company’s image and reputation.
The prices of prescription drugs in the United States are by far the highest in the world. [1] On average, Europeans pay 40% less than Americans for the same medications. [2] Consumers have been resorting to several ways, sometimes putting themselves in harm’s way, to alleviate the burden of high prescription drug costs. Some buy their medications online or cross the borders to neighboring countries so they would be able to afford buying their needed medications. Others have resorted to the illegal act of selling their unused medications in online forums just to recover part of their expenses. Many factors contribute to the increased drug prices in the United States including research and
"In the past two decades or so, health care has been commercialized as never before, and professionalism in medicine seems to be giving way to entrepreneurialism," commented Arnold S. Relman, professor of medicine and social medicine at Harvard Medical School (Wekesser 66). This statement may have a great deal of bearing on reality. The tangled knot of insurers, physicians, drug companies, and hospitals that we call our health system are not as unselfish and focused on the patients' needs as people would like to think. Pharmaceutical companies are particularly ruthless, many of them spending millions of dollars per year to convince doctors to prescribe their drugs and to convince consumers that their specific brand of drug is needed in
The pharmaceutical industry continues to be a major driver of trend. While demand for medicine rapidly increases in emerging economies, a growing number of consumers are also analyzing the economic performance of different medicines. These events will heighten the challenges the
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.
The rise in drug prices is causing the public to ask why this is so and why there isn’t anything being done, or what the reason could be for sky high prices. Some of the reasons include pharmaceutical companies setting their drug prices
In the business of drug production over the years, there have been astronomical gains in the technology of pharmaceutical drugs. More and more drugs are being made for diseases and viruses each day, and there are many more drugs still undergoing research and testing. These "miracle" drugs are expensive, however, and many Americans cannot afford these prices.
The high prices set by pharmaceutical companies for drugs allows the companies to continue researching, developing, and producing new drugs. As new diseases are discovered, new medications must be discovered in order to treat them.
Americans also pay significantly higher for medicines and prescribed drugs than other citizens in other countries. This information suggests the fact that even though the United States of America has the proper health care available for every citizen, America doesn’t supply it to its citizens because some of them cannot afford it. This shows other countries that America doesn’t have the best interest for its citizens in mind, only the most profitable one.
“A year ago we said that we need to introduce prescriptions these tablets don't cost much but the profit margins are high. Some pharmacies make up to 25 per cent of their profits from the sale of these tablets. It's not in the interests of pharmaceutical companies or pharmacies themselves to stop this, so the government needs to use its power to regulate their sale.”
Economic: Globalization of the pharmaceutical industry is an exciting opportunity to have research and development done at cheaper prices in other countries. However, this could be a double edged sword for companies because it is easy for other countries, such as India, to produce generic versions of the drug in bulk.
The United States (U.S.) healthcare system is ranked amongst the top most expensive and technologically sophisticated healthcare systems in the world, yet the system fails to yield adequate health service for the tremendous amount of money it spends. According to Holtz (2008), in 2004 the U.S. spent $1.7 trillion or about 15.3% of gross domestic product (GDP) share on healthcare where the “health expenditures were $6100 per capita, which is higher than any other country” (Holtz, 2008, p. 1). Moreover, the health and pharmaceutical expenditures are rapidly increasing each year creating an economical burden in the country. In 2009, the U.S. was “ranked sixth lowest in life expectancy amongst
The branded pharmaceutical firms account for more than 50% of worldwide pharmaceutical sales. Thus they make huge profits. These profits can be used to fund hospitals in poor areas. This will not only give the firms respect but also a good recognition. Generic medicines are cheap and easily available. Though they may not be effective, but they serve the purpose for the poor. Some generic medicines may not give the desired results but the major diseases which occur among the poor people can be treated with generic medicines.
Compared with other industrialized nations, the US has an average or below-average rates of chronic conditions, comparatively few doctor visits and hospitalization, and a relatively young population. However, extensive use of poorly coordinated specialists and duplication of resources due to more fragmented care delivery and substantially higher prices has led to higher healthcare spending.
Prescription drugs all around are very expensive, but without out them some of us would not be able to say we are alive. We can still see the price of these prescription drugs go through the roof as we speak. Although most of low-income workers can barely afford medicine and drugs, one way or another, we make it work because without it we would be dead. Although having insurance covers a lot of our medical health expenses, such as medical bills, prescription bills, hospital bills and things of this nature. As the cost of prescriptions keep going up, sometimes our insurance companies cannot cover the cost because they have hit their Cap of money able to spend. Some insurance companies have Cap for a person or a cap for a whole family it can be yearly or annually it just depends on the “deal” you worked out with your insurance provider. Most families, like my own make due to cover the cost of having insurance, yet we have to still be able to cover what remains of the prescription cost if we want to live. Money sometimes is very tight and meeting these necessary financial situations get tough.