The Pharmaceutical Industry Is Under Enormous Pressure By External And Internal Stakeholders

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

1. Pricing: Many Asian and African countries are poor and cannot afford the costly medicines. The Pharmaceutical firms spend vast amounts on R&D in creating and marketing drugs, thus charging high prices enables for cost of capital recovery and profit generation.

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

In the video Escape Fire, I was so flabbergasted by the numbers and health outcomes we as a society have let our nation become. One of the most heart-wrenching evidence is, even though our health care industry is so expensive our health outcomes are the worse. 75% of disabilities and dead’s are preventable, according to the film.

An article was chosen from the University Library to evaluate the issue of unethical business research conduct. The article chose is called Flacking for Big Pharma: Drugmakers Don't Just Compromise Doctors; They Also Undermine the Top Medical Journals and Skew the Findings of Medical Research . The identification of the unethical business research involved in the article is given. The parties involved along with effected party is mentioned. The evaluation of the article also identifies how the unethical behavior affected the organization, injured party, and society. A proposition of

Whether eastern-based medicine or western medicine, there is a multitude of so-called healing modalities. A plethora of industries is available to get their share of the huge financial pie. The pharmaceutical industry is one of the

Many have accused that Food and Drug Administration is not aggressively monitoring drugs prices, the FDA is in charge of regulating devices and drug production. Big Pharma spends billions of dollars annually on direct-to- consumer advertising which entitles manipulative strategies (4). The theory behind such good progress is the company attracts doctors, scientist, and other health related personnel’s. Medical research teams and doctors conduct extensive research with funds from Big Pharma. Even though many accuse Big Pharma for not following their mission statement it has not restricted them from purchasing their prescriptions medications. Big Pharma a company with many tactics and strategies, have been hiring former government workers whom have authoritative links to gain political influence. Currently, they have hired, 36 who worked for a member of Congress, 13 who worked for a federal agency, 2 who worked for the White House (4). With influenced members from Congress, they use their connection to reach their company goals. Unfortunately, U.S law permits drug manufacture companies to set prescriptions drugs prices without any restriction from the FDA. On the other hand, other countries set a limit on what companies can charge bases on the benefit of the drug (4). There are many hidden facts, which Big Pharma does not reveal; for example, the company spends double the amount of advertising then they do on research. Persuasion is the key to pharmaceutical industry, paying physicians/surgeons to incorporate their names on research articles, with the intent of getting published in

Today pharmaceutical industry is worth 300 billion dollars and controls a majority of the money market. It is an industry that today is in very close ties with the FDA. The FDA has lost face because it is now to closely linked with big pharmaceutical companies. It is more beneficial and profitable for ‘Big Pharma’ to have more unhealthy people because that would mean more drug sales. Mercola, Joseph, Dr. "Exposing the Truth Behind FDA Approval and Guidance."

In Marcia Angell’s book, The Truth About the Drug Companies: How They Deceive Us and What to do About It, she reveals to readers the truth about what the pharmaceutical drug companies do to make money and how it effects us as customers and patients. Angell shows through her use of facts from credible sources and her use of statistic and knowledge on the subject that the pharmaceutical industry has transformed into one that is more profit based than one that is trying to help out people with innovative medication.

The drug industry has severely attacked government, feeling that they are too restricted and that government has no right to

The Pharmaceutical industry has been in the spotlight for decades due to the fact that they have a reputation for being unethical in its marketing strategies. In The Washington Post Shannon Brownlee (2008) states, “We try never to forget that medicine is for the people. It is not for the profits. The profits follow.” This honorable statement is completely lost in today’s world of pharmaceutical marketing tactics. These tactics are often deceptive and biased. Big Pharma consistently forgets their moral purpose and focuses primarily on the almighty dollar. Big Pharma is working on restoring their reputation by reforming their ethical code of conduct.

Even though the pharmaceutical industry has made great improvements to human health and quality of life, like creating drugs for the treatment of AIDS, cancer, and other diseases, an increasing tension is growing between the public and the industry. These thoughts are fueled by issues such as drug pricing, affordable health care, and the battle against epidemic diseases in third world countries; social critics wonder whether this multi-billion dollar industry is giving enough back to the community and fulfilling its social responsibility.

Porter’s Five Competitive Forces Analysis is a framework developed by Michael E. Porter of Harvard Business School for study of industry analysis by analyzing five competitive forces which define industry and its business strategy. These five competitive forces determine the competitive advantages, disadvantages and attractiveness or profitability of industry.

The pharmaceutical industry confronts several dilemmas every year. Most of these dilemmas revolve around money or whether or not to sacrifice now for a bigger payoff in the end concerning money and/or lives. Pharmaceutical companies tend to use shortcuts that create ethical problems. Drug companies have spent millions/billions of dollars in research, and they obviously want to see

Yes, there is an impact on the pharmaceutical company, like those in the US as a result of differential prices between that country and other nations.