Pharmaceutical industry

an indentation using a substance or a chemical produced by a pharmaceuticals industry. A patent gives an individual or a company full control over their product. It stops other companies or an individual from misusing the product. A patent keeps other off the market and gives the patent holder an open market. Even though a patent gives its holder a monopoly market, it is sometimes necessary to do so. A drug patent gives the pharmaceutical company the right to choose its consumers, price and…

Introduction Pharmaceutical sales representatives, also known as drug representatives or pharmaceutical salespeople, provide drug information and product samples to physicians. A pharmaceutical representative typically represents a particular drug or group of drugs from their company and meet with physicians who specialize in that specific medical field. In comparison to pharmaceutical sales, agricultural sales representatives sell equipment used for growing food and raising animals on farms…

United States of America under the industry of healthcare. The CV Therapeutics, being Biopharmaceutical Company, which is research oriented, it…

normal to Americans. Modern culture is so accustomed to pharmaceutical ads that no one notices how prevalent yet scary they are. Well, this practice is only normal to Americans, because the United States is only one of two countries on Earth that allow pharmaceuticals to be directly advertised to consumers (the other country is New Zealand) (Hiltzik). Even with 99% of world powers standing against the use of direct to consumer pharmaceutical advertising, the issue is still debated with…

the world”, Merck must look at the following opportunities in the third horizon. patient-centric, personalized drugs with the use of artificial intelligence and deep learning: Digitization and Personalization are the 2 major trends that the pharmaceutical industry is starting to witness. Digitization, through the development of a healthcare platform is an apt opportunity for Merck to pursue in Horizon 2 and has been discussed in the previous section. Technology for such a platform exists, but…

‘Big pharma’ refers to global pharmaceutical and biomedicine companies that lobby governments, media and other entities to expand their influence. In spite of being responsible for the modern innovations in medical devices and drugs, progress for research and development for new drugs or treatments is painstakingly slow. Like software updates or patches, the development for treatment has seen incremental therapeutics, such as small changes to existing formulations but rarely does the public see…

One might assume that counterfeit pharmaceuticals wouldn’t pose as such a large problem due to stringent government programs such as the FDA. But, unfortunately, these drugs sneak under the FDA radar and aren’t regulated in the slightest. The FDA is the Food and Drug Administration and it is responsible for monitoring the safety, efficacy, quality and security of a variety of products distributed across America and other US territories. Their aim as an organization is to inform and educate…

“Pharma Bro” Martin Shkreli, CEO of Turing Pharmaceuticals raised the price on a drug to treat infections in AIDS patients by 5,000%, from $13.50 a pill to $750 a pill thus shining a global spotlight on the United States’ precarious healthcare market. Shkreli has become the ogre of healthcare. Yet other companies have jacked up prices just as much as Shkreli did, with no consequences other than soaring stock prices. In September of 2016, the makers of the Epipen (The Epi-pen is only the…

A drug named Daraprim price was raised by 5000%, from $13.50 to $750 per pill. Many cases similar to Daraprim have happened, and a pattern of massive price increase of many life saving drugs by pharmaceutical companies becomes apparent. Expensive drugs had forced patients to make difficult choices, either to cut down basic needs to save money to buy the needed drugs, or to cut down the use of the drugs itself. Americans start blaming drug companies of price gouging and call for drug prices…

$600 for them when they expire each year. The dramatic increase in price is due to the monopoly that EpiPen has over the industry of epinephrine. After a company creates a unique drug, it is issued a patent that prevents any other sellers from entering the industry, giving the single company the power to charge whatever price that they see fit. Patents give pharmaceutical companies monopolies…