PharmaCare essay
Introduction
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 is deficient testing of the drugs prior to the drugs hitting the American market. In this research paper we will cover the many facets of PharmaCare, Coleria, and Wellco and the drug AD23 side effects, and its manufacturing in an impoverished nation with the low wages and unsafe working conditions. All of which will be covered throughout this document.
Marketing and Advertising
The Food and Drug Administration relaxed the regulations regarding the need to advertise the side-effects of prescription drugs in 1997. (FDA) The relaxed regulation allows for direct-to-consumer advertising and this change the marketing strategies. There is now an influx of pharmaceutical advertising using infomercials. Gary Humphreys informs us in his article, “Direct-to-Consumer Advertising Under Fire”, that pharmaceutical companies “spent just under $5 billion last year alone” (576) on this type of advertising. The infomercials somehow make consumers believe that there is a need for them to have the drug and therefore create an increase in its sales. Because consumers have a desire to take control of their health they are now going in the doctor’s office and telling the doctor’s about the infomercial and the drug that they would like to try.
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 is deficient testing of the drugs prior to the drugs hitting the American market. In this research paper we will cover the many facets of PharmaCare, Coleria, and Wellco and the drug AD23 side effects, and its manufacturing in an impoverished nation with the low wages and unsafe working conditions. All of which will be covered throughout this document.
Marketing and Advertising
The Food and Drug Administration relaxed the regulations regarding the need to advertise the side-effects of prescription drugs in 1997. (FDA) The relaxed regulation allows for direct-to-consumer advertising and this change the marketing strategies. There is now an influx of pharmaceutical advertising using infomercials. Gary Humphreys informs us in his article, “Direct-to-Consumer Advertising Under Fire”, that pharmaceutical companies “spent just under $5 billion last year alone” (576) on this type of advertising. The infomercials somehow make consumers believe that there is a need for them to have the drug and therefore create an increase in its sales. Because consumers have a desire to take control of their health they are now going in the doctor’s office and telling the doctor’s about the infomercial and the drug that they would like to try.
References: Congressional Budget Office, How Increased Competition from Generic Drugs Has Affected Returns in the Pharmaceutical Industry (Washington, D.C.: Congressional Budget Office, July 1998) Federal Drug Administration. Compounding and the FDA: Questions and Answers. (November 27, 2013) Forbes. Is the FDA Being Compromised By Pharma Payments? (August 7, 2013). http://www.forbes.com/sites/johnlamattina/2013/08/07/is-the-fda-being-compromised-by-pharma-payments/ Global Poverty Info Bank. Infrastructure and Poverty. Retrieved on December 13, 2013 from website: http://globalpovertyproject.com/infobank/infrastructure PharmaCare, (2013). Retrieved on December 13, 2013 from Website: http://www.pharmacare.us/our-commitment.php U.S. Food and Drug Administration, “NDAs Approved in Calendar Years 1990–1999 by Therapeutic Potentials and Chemical Types,” (February 15, 2000) USA Today. (3/4/2008) Retrieved on December 14, 2013, From website http://usatoday30.usatoday.com/news/health/2008-02-29-drugs- main_N.htm