believe brand name drugs are better than generic drugs? II. (Reveal Your Topic) Today‚ I want to talk about generic drugs versus brand name drugs. III. (Establish Credibility) I have been with CVS for four years. I am a nationally certified pharmacy technician (also known as a CPhT). I work alongside many pharmacists and come across many drugs. I have to call doctors every day to change a person’s medication. IV. (Preview) Today‚ I want to talk about generic drugs. I want to talk why
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invested in research and development. From 1995 to 2001‚ Merck was successful in releasing 13 major drugs into the market. One of these drugs was one that would treat rheumatoid arthritis. The drug‚ Vioxx‚ acquired the approval of the Food and Drug Administration (FDA) in May 2009 (Cavusgil‚ 2007). Vioxx became one of the top five selling drugs in the market in the next five years. However‚ Merck pulled the drug from the market on September 30‚ 2004 due to increased observations of cardiac arrest and stroke
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Differential pricing‚ the specific price structuring and implementation‚ is the solution to resolving the conflict between pharmaceutical drug patents. There are always several different brands of drugs that can be prescribed or even bought over-the-counter‚ but the decision of the consumer or medical provider is usually dependent on the price of the drug being offered. Drug manufacturers must depend on differential pricing so that they can overcome competition by undermining the potentially higher prices
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to a drug paten but it takes a lot to get that patent. Until that can happen‚ anyone can make a similar drug and get it approved to sell on the market. Making sure the company acts in a proper way is important. When companies merge it may not always be in the best interest of the consumers‚ there is usually a lot of money involved in this deal and many times it’s the customer that will pay in the end. Example 1 1. A drug maker would want to hinder the generic competition of its drug by being
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Drugs and Hair Dyes Note: the following case is copyrighted and may be copied and used only by current users and owners of the textbook‚ BUSINESS ETHICS: CONCEPTS AND CASES by Manuel Velasquez. In January 1978‚ the Food and Drug Administration (FDA) announced it was considering a regulation that would require hair dyes containing the chemical 4-MMPD (4-Methoxy-M-phenylenediamine sulfate) to carry the following label: Warning: Contains an ingredient that can penetrate your skin and has been determined
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Agencies Two of the most influential regulatory agencies within HHS are the United States Food and Drug Administration (FDA) and the Center for Medicare and Medicaid Services (CMS)‚ these two agencies have substantial influence on every aspect of health care delivery. The FDA is responsible for protecting and promoting public health through the regulation and supervision of food safety‚ medical devices‚ drugs‚ vaccines‚ blood products and biologics. In addition‚ they monitor medical errors and adverse
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Oxycontin-A Wonder Drug? In 1995‚ the FDA approved a miracle drug‚ which would aid in a person’s ability to cope with the severe pain associated with cancer. Purdue Pharma L.P. of Stamford‚ Connecticut‚ introduced the wonder drug that would eventually be the demise of many. Oxycotin would‚ for several‚ lead to addiction‚ criminal behaviors‚ and‚ for some‚ their lives. The intent of releasing the drug was solely to treat patients suffering from chronic pain. Since the release of the drug‚ doctors are
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Introduction On December 8‚ 2003‚ President Bush signed into existence the Medicare Prescription Drug‚ Improvement‚ and Modernization Act (CMS‚ 2003). This Act over the years is intended to provide prescription drug benefits to seniors. It will also provide subsidies to insurance companies‚ health maintenance organizations‚ and would allow private plans to compete with Medicare (CMS‚ 2003). Why were changes to Medicare deemed necessary? The changes to Medicare where deemed necessary‚ because
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herbals come from different plants that are used in many of today drugs. Many people like herbal supplements because they believe that they are more natural and safe with less chemicals. These herbal medicines have different names such as botanical medicines‚ remedies‚ or supplements. Most plant derived herbals are sold as dietary supplements and they do not have to be proven that they are actually effective. Some synthetic drugs that derived from plants are aspirin‚ Morphium‚ Tamoxifen and Vincristin
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blockbuster drugs and newly released prescription drugs with a vast consumer market‚ allowed Pfizer to increase its customer base and raises its prices. Lately growth has slipped to just 2% a year. Pfizer’s pipeline of drugs has failed to provide a recent blockbuster. If no big drug releases occur before some of Pfizer’s current high dollar drugs lose their patent protection Pfizer could see an enormous drop in profits. To remain successful Pfizer must develop and release new drugs and successfully
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