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. However, consumers are not aware that they prescription drug companies are not required to share all of the side-effects of the drugs and it may cause serious health problems when consumers can ask for drugs by name. According to the Centers for Disease Control and Prevention prescription drug abuse is not an epidemic. The high use of prescription drugs has led to a decrease use in illegal drugs. In the United States it is common for Medical Doctors to receive a sales pitch from a drug company regarding their prescription drugs and highlight the many benefits of it as well. This is target marketing in which drug companies are targeting those in the medical field and those that are most likely to offer the product to a consumer and in turn this will lead to an increase in drug sales. This practice leads to questions related to medical ethics in the industry. Intellectual Property Protection
The laws and regulations have strengthened the intellectual property protection of branded drugs. One of the primary reasons for the Intellectual Property Protection was to get the pharmaceutical world thinking and give incentives for those who are being innovative. Products can be fixed for a specified time frame if they have a patent; what this means is it eliminates any direct competition which in turn allows the inventor to set the price of the drug and many times they are charging top dollar. The inventor is trying to recoup all money spent on the creation of the drug while also making a hefty profit. The Intellectual Property Protection have increased patent life of approximately 50 percent of all drugs from 1980 to present which contributes to prescription drug spending. A 1998 Congressional Budget Office (CBO) study showed that manufactures tend to introduce new branded drugs at premium prices, and then raise these prices. The study found that even after similar branded products enter the market, drug companies often continue to increase the price. The ethical issue is because...
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U.S. Food and Drug Administration, “NDAs Approved in Calendar Years 1990–1999 by
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USA Today. (3/4/2008) Retrieved on December 14, 2013, From website
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