Transcript: Even with OTC drugs people really are not aware of side affects. Example: Aleve Purpose Everyone is different and almost every drug reacts to people in a different way. Many of the drugs distributed across America aren't safe for everyone's consumption. "Pharmaceutical Industry." Opposing Viewpoints Online Collection. Detroit: Gale, 2015. Opposing Viewpoints in Context. Web. 23 Sept. 2015. Safe? education "The US Drug Safety System." National Center for Biotechnology Information. U.S. National Library of Medicine, 2015. Web. 01 Oct. 2015. Reaction Many times the pharmaceutical industry are not giving proper education on the perscription drugs that are expected to help. Also expenses of these drugs are not doing enough to ensure drug safety, and many times the pharmaceutical industry puts profits before the health of consumers. Greater concern exists over direct-to-consumer (DTC) advertising. The pharmaceutical industry argues that this type of advertising raises consumer awareness of potential health problems, highlights possible solutions, and encourages them to discuss this with their physicians. "Pharmaceutical Industry." N.p., 2015. Web. 1 Oct. 2015. "Safety." Safety. AccessBetterCoverage.org, 2015. Web. 01 Oct. 2015. Help me realize the reasons why some of the drugs get approved early. Pharmaceutical Industry(Drug safety) Not only may you have a allergic reaction, but there will always be side affects. The side affects that on drug commercials are said, but unclear to there audience. what they need to say The importance of drug safety and how a drug that is meant to help can turn deadly. Expresses how the industry lacks in awareness to how the drugs that are "approved" effects others Brings awareness to how huge corporations and conglomerates ("Big Pharma"), create drugs to save lives and improve quality of life, but they carelessly don't properly inform the masses on the complications of the drugs.
Transcript: The radius of a physician’s practice was limited by the distance he or she (mostly he) could reasonably travel to make house calls. (Most patient-physician interactions occurred in the patient’s home rather than at the physician’s office throughout the 19th century.) These “service areas” often overlapped with the service areas of other physicians and thus allowed for competition among physicians for patients. One way that physicians gained an edge over competitors in the quest for patients was to charge less than their fellow healers. Why did people use this piece of culture? How often did people Interact with this? A physician, no matter how skillful and loved by his patients, must earn a sufficient amount of money and goods to live a life. Documents exist that provide insight into this fiscal aspect of the medical profession. One can find letters to and from patients, bills and receipts, occasional medical journal articles and books, and other evidence. A most interesting kind of evidence documenting the business side of medicine is the Fee Bill. Late 19th Century Well they had to interact with these physicians at times when they were sick. So I would think a lot back in the day, because that's when the medicine industry was just coming out and figuring things out. Life now to the early 19 century is totally different. Back then people had to take 12 hour shifts in steal factories. Safety conditions back then were also not that safe compared to today's safety regulations. People nowadays work 8 hour days and have a lot more time to do whatever they want like spend time with there family, another job, a hobbie, and etc. Life now is getting easier and as time goes on. Everything gets safer and easier to do. In 1897, a chemist at Bayer, Felix Hoffmann, first synthesized aspirin, another staple of our medicine cabinets. The end of the 19th century also saw the development of several important vaccines, including those for tetanus and diphtheria. BY Lars Pietz How much did people spend on this? One paragraph It all revolved around sickness and why people were dying of unknown causes. We used medicine to heal them and also find what sickness they had Pharmaceutical Industry How were people able to afford it?
Transcript: Revenue Working Capitol Office Furniture $2,000 Vehicles 20,000 Tenant Improvements 10,000 Printing Machines 20,000 Total Fixed Capital $52,000 Pharmaceutical Industry Presented To: Ma'am Shazia Badar Presented By: Fasih Ud Din Adnan Sarwar Raweel Shahid Saad Ibrahim Umair Saleem Shehzad Ali Introduction Machinery, equipment, furniture and vehicles Tableting Tube Filling Liquid Filling Labeling & Packing Operation Cost Property Cost Marketing Strategy Total Working Capital $38,000 Total Fixed Capital $62,000 Total Capitol For One Year $100,000 Day to day costs of production Contingencies (10%, same as investments) Depreciation (variable, straight-line) Consulting fees (set as a contract) QUESTIONS Vehicle expenses Maintenance (3% of total, spread-out monthly) Machinery expenses Down Time Life Cycle Cost The pharmaceutical industry develops, produces and markets drugs for use as medications Mid-1800s – 1945: From botanicals to the first synthetic drugs The modern pharmaceutical industry traces its roots to two sources Personal Property The area should be acquired for rent Proposed areas will be ranging between Rs.80,000 to Rs.100,000 Approximately 500-sq. ft. will be required for a display Real Property Personal Property Actual Cash Value Product Aspirin Acamol Estimating Realistic Costs Maintenance Cost Real Property Operating Cash $ 10,000 Inventories 15,000 Prepaid Rent 5,000 Prepaid Insurance 8,000 Total Working Capital $ 38,000 Sales Representative The distribution of free samples of the product to hospital and medical stores Using many types of advertisement Billboard, radio T.V Taxation Life cycle Cost
Transcript: Pharmaceutical Industry: Profiting for the Greater Good? "Price gouging by the pharmaceutical industry is allowing industry profits to soar at the expense of every American." 10/10/11 By: Nick Vela Instructor: Pamela Conley Eighty-nine percent of new drugs in the U.S. offer little or no additional benefit over existing drugs, yet U.S. drug prices are the highest in the world. A significant amount of prescription drug money goes straight to CEOs of drug companies. The major pharmaceutical companies charge such high prices for their products that their profit margins exceed those of the biggest oil and entertainment companies. "The Cost of Prescription Drugs Is Outrageous" by Alliance for Retired Americans Educational Fund. The Pharmaceutical Industry. Jamuna Carroll, Ed. Opposing Viewpoints® Series. Greenhaven Press, 2009. Diane M. Porter, Outrageous Fortune: How the Drug Industry Profits from Pills, Washington, DC: Alliance for Retired Americans Educational Fund, August 2007. "The Cost of Prescription Drugs Is Justified" by Richard A. Epstein. The Pharmaceutical Industry. Jamuna Carroll, Ed. Opposing Viewpoints® Series. Greenhaven Press, 2009. Richard A. Epstein, "What's Good for Pharma Is Good for America," Boston Globe, December 3, 2006, p. E1. "Prescription Drug Prices Are Excessive" by Katharine Greider. Prescription Drugs. Christine Watkins, Ed. At Issue Series. Greenhaven Press, 2006. Katharine Greider, "Offering Hope—at a Price: US Drug Firms Make the Choice Clear: Our Outrageous Profits or Your Life," The Nation, vol. 276, June 9, 2003, p. 26. Hatch, D. (2003, June 6). Drug company ethics. CQ Researcher, 13, 521-544. Retrieved from http://library.cqpress.com/cqresearcher/ High prices of new drugs are necessary to fund ongoing research and development (R&D). "Research pharmaceutical firms must recover their huge front-end costs, which can run over $1 billion for a new drug." Their successful drugs must generate additional revenues to cover the predictable flops. There are better ways to help Americans live a good life without spending so much, such as a standardized Universal healthcare system. A lot of the pharmaceuticals are private and not controlled by the government.
Transcript: The kinked demand curve model assumes that a business might have two separate demand curve for its product based on the likely reactions of other firms to a change in its price or another variable. If a firm raises price, then demand is more elastic causing the business to lose market share and expect to see a fall in its total revenue. If a firm reduces its price then demand would be more inelastic leading to a fall in revenue with little or no effect on market share. Therefore the firms are risk adverse and remain at equilibrium price to keep their market share and not lose revenue. April 2015 One of the biggest dilemmas faced by pharmaceutical companies today is whether to immediately market a product and gain competitive advantage over rival firms or to prolong the testing period in order to reduce the chance of putting out a faulty drug. This problem induces actions motivated by the game theory for several reasons. Once a drug is placed into the market, it is not there for very long. Although a company may have a monopoly on a drug that they have studied and concreted the formula of for a short while, generic brands are often able to get into the market in a very brief amount of time. Once this happens, the profits of brand drugs diminish almost immediately because of the fact that generic brand drugs are so cheap. Game theory is also prevalent in the decision making of pharmaceutical companies on what drugs they should spend their time and money producing. For example, cancer is an extremely dominant cause of death throughout the world so there is the incentive of gaining a large sum of money for the company that can create a drug to battle it. Therefore, pharmaceuticals want to become the first to come up with a cure for such pervasive illnesses. Contrarily, there is little to no incentive to create drugs for less widespread, yet certainly just as detrimental diseases (known as “orphan diseases”) so in some instances the government has had to step in and provide subsidies in order to provide incentive for this kind of drug development. (FDA Office of Orphan Products Development (OOPD) ) Pharmaceutical Industry Fixed Costs Drug firms invest around 19-25% of total revenue in research and development. One in 5,000 new chemicals discovered actually goes to market. It takes around 10 to 15 years and $1.5 billion to develop a new product and just two out of ten approved products recover the R&D costs necessary to research them. Oligopoly Structure Patents December 2010 For example, an agreement between two pharmaceutical companies to develop a new drug together as opposed to independently is likely to be subject to prohibition. This is because the two companies working together can be seen to reduce the number of products likely to be produced, by preventing each company from working on independent projects. However, the benefits for consumers resulting from such co-operation (i.e. more investment, leading to better drugs which reach the market faster), may be considered sufficient to off-set any anti-competitive effects. In addition to product licensing, mergers and acquisitions are common in the pharma-biotech industry. Large horizontal mergers were particularly frequent in the late 1980s and 1990s, while pharmaceutical acquisitions of biotech companies have become more common recently. Several of the largest firms are the result of successive large horizontal mergers, and this has contributed significantly to industry concentration. Such mergers are often rationalized on grounds of economies of scale and scope in R and D, marketing, and administration. The government’s role of incentivising pharmaceutical companies also creates a certain prisoner’s dilemma on their part. It is in everyone’s interest to provide drug companies with incentives to invest in new drugs. To do this, drug companies must be able to price their drugs well above production costs to a large portion of the public and gain profits. However, the motives of individual governments are to decrease the prices of drugs in their own country while allowing those in other countries to pay the prices that would generate return on their investment. This makes it very tempting for America (a country with the largest amount of drug development) to set low drug prices. http://www.ukessays.com/essays/finance/mergers-and-acquisitions-in-pharmaceutical-industry-finance-essay.php Game Theory Mergers and Acquisitions In the pharmaceutical industry there are patents due to the Patent Protection and Affordable Care act of 2010. The fixed cost of innovation is large, with estimates of the average cost of bringing a single new drug to market as high as $800 million. This monopoly patent protection is estimated to last 12 years with a three to five year extension. Collusion Barriers to Entry Brand Loyalty Research and Development There is little evidence of this being seen in the real world. This theory can be criticised as it doesn’t provide an explanation
Transcript: •Most of the industry revolves around the issue of Calcium and whether or not supplements are needed for the resolution of this epidemic. •http://www.today.com/video/are-vitamins-and-supplements-really-necessary-534938179712 this interview on NBC Today sheds light on just one side of the argument in that anti calcium pills. •http://well.blogs.nytimes.com/2013/04/08/thinking-twice-about-calcium-supplements-2/?_r=0 in this article from the New York Times it states how several studies indicate that the calcium supplements have added to an increased risk of heart attacks and death. •“The one indisputable fact is that the safest and probably the most effective source of calcium for strong bones and overall health is diet, not supplements.” Pharmaceutical Industry Andy Samaroo, Jujhar Singh,Joshua Ojeda, Although the pharmaceutical industry supplies us individuals with medicine for relief and more treatments, there are many cases where the pharmaceutical industry carries out more of a negative factor, than a positive factor. One patient in particular in the year of 2000, was diagnosed with muscle spasms and intense pain over his body, where ironically it was supposed to relief his pain in his back. Also, it can be seen in this article that dangerous antidepressants such as Nefazodone was banned from Canada, because of the toxicity it gave of to the human liver. -On the right is an image of the projected statistics of Vitamin usage in the month of December in 2013. -As it is evident those of the older groups are shown to more likely take vitamins and minerals, this could be because of many reasons. Poor nutrition, lack of exercise, carried over poor genetics, and age are the most common. -Age plays the most significant role along with body preparation in the epidemic of calcium depletion and lack. Pharmacuetical Profits Argument On The Most Popular Issues Of The Industry The pharmacuetical industry generates billions of dollars in profit and it leads many people to the ideology that it is a corrupt buisiness. Many of the cancer setting drugs brings about the most percentage of many about 3.1 billion dollars. But there are also cases in where the buisiness is fined billions based on what medicines are given out. For example, some medicines are given out even though they are illegal. And others are not sold because it was given too strong or too weak for the certain age group. Cons of Pharmacy Pros of the Pharmaceutical Industry The pharmaceutical industry develops, produces, and markets drugs or pharmaceuticals for use as medications. Pharmaceutical companies may deal in generic or brand medications and medical devices. The positive of a pharmaceutical industry is that medicine is being distributed to people with medical cases that can be life threatening, in order to help them get better.The pharmaceutical industry has invested in new drug development, and has major successes. We continue to see new exciting approaches to treatment. In some cases pills are more harmful for the body because people depend on it which can become addictive, which can damage your liver. PhRMA members have invested more than half a trillion dollars in R&D since 2000, including an estimated $51.6 billion in 2013 alone. The jobs the industry creates have high wages and require a workforce with diverse skills and educational levels, from Ph.D. scientists.In 2011, the average annual total compensation for biopharmaceutical workers was $110,490, compared with $54,455 for all U.S. workers. The U.S. pill use sector employs more than 810,000 workers and supports a total of 3.4 million jobs across the country. I got this information from http://www.phrma.org/economic-impact. Importance Of Calcium In The Industry and Our Lives In this video they are basically talking about prices on pills are raising, $230 million is lobbying congress. Martin Shkreli brought Hiv pills and sold it double the money. The pills is $1.50 and he sold it for $30. Companies like pfizer has a fine of $2.3 billion due to this situation. $17.5 billion is marketing $8.2 billion r&d in 2013 There are many health benefits of calcium which the supplements do help in aiding to provide which are sometime overlooked in the debate if the supplements are needed or not. •Helps maintain a healthy body weight. •Reduces risk of colon cancer. •Controls blood pressure. •Reduces risk of kidney stone(s). •Protects cardiac muscle. •Aids in preventing premenstrual depression. •Helps maintain healthy and efficient bones and teeth. •Calcium is one of the leading (drug) supplements on the market today and is a rising mineral that wont seem to cease anytime soon. Statistics On The Epidemic It can be seen that the Pharmaceutical Industry helps the U.S economy prosper in many ways. One way this is illuminated when in particular, the biopharmaceutical company employs more than 810,000 workers every year and a total of 3.4 million jobs across the country alone. Also, it can be analyzed that, when
Transcript: Modern Medicine began to effectively harness natures resources. Start of the spin - Much like electro, it started in the 80's What it Should be Doing Selling/creating medicine in a fair and unbiased way Profit should not be sole interest of the industry What's really going on Driven by profit Targeting media with engineered stories Poor regulation False charity? Bribes and Backhanders Excessive and Inappropriate Prescription Rigged Trials Evidence based medicine Seeding research Foreign trials Ineffective Penalties and Regulations Patents and Competition Supporting economy as a whole Feeding problems and solutions to the press Culture of Medicine Biased papers published in respected journals Doctor/patient PR alliance Transparency Control on representative Compulsory quotas Independant/govt. trials Patent law adjustment What are the moral responsibilities of journalists? Which solutions will be effective? What does the future hold for the industry Industry Problems Evaluative Discussion Profit VS Social Good THANK YOU FOR LISTENING Pharmaceutical Industry Role of Media and PR Zoloft Commercial Lesson Summary The Pharmaceutical Industry A brief History/Intro about the Pharmaceutical Industry Role of the industry Ethical issues and problems Role of media/PR Possible solutions Solutions Ethical Issues History Mad Max Meets Casualty
Transcript: In the U.S., the value of prescriptions increased over the period of 1995 to 2005 by 3.4 billion annually, a 61 percent increase. Retail sales of prescription drugs jumped 250 percent from $72 billion to $250 billion, while the average price of prescriptions more than doubled from $30 to $68. bpm Compounding Pumps Compressors Milling and micronizing machines Valves Capsule filling,sealing and stamping machines Conveyors Distillation columns Centrifuges Vessels Bottle filling, labeling and packing machines Work Conditions/Expectations Thank You! By Julio Chavez, Kolton Muserelli, Lorenzo Sanchez, Michael Vazquez, Wesley Carmer Workng conditions in Pharmaceutical plants Antibiotics were first observed in the late 1800s but the major era began in the mid 1900s. Antibiotics are substances made from mold or bacteria that stop the growth of other microorganisms. The first major antibiotic was penicillin and it was mainly used for World War II. The pharmaceutical industry develops, produces, and markets drugs or pharmaceuticals for use as medications. Pharmaceutical companies may deal in generic or brand medications and medical devices. They are subject to a variety of laws and regulations that govern the patenting, testing, safety, efficacy and marketing of drugs. 62 FDA in 1906 6 main steps in the drug manufacturing process. Preclinical studies Clinical evaluation Clinical trials Regulatory filing FDA approval and post approval monitoring Manufacturing Antibiotics What are Pharmaceuticals ECG Proccess Operators' Responsibilies in the Pharmaceutical Industry Pharmaceutical Industry Future Pharmaceutical research and development ranks among the fastest growing manufacturing industries, so demand for this industries products is expected to remain strong. These companies will continue to increase as they look for more and more effective medcines to use Production of Pharmaceutical Drugs Equipment Used in Industry Operate drug-producing equipment Inspect products. Specialized Jobs: Compacting machine settlers Filling machine operators Milling machine tenders Compounding is the mixing of two or more substances together to achieve a desired physical form. When the substances are being mixed together the atoms of both connect to make a new substance, this new substance is held together by chemical bonds that are caused by the electrostatic force of the attractions between the opposite charges. The two most common ways for this to happen is with the “strong bonds” that are called covalent and ionic bonds. Compounding is not just used today it has been used throughout human history to make many different substances and medicine, one of the earliest records of this was around 2000 B.C. when Chinese emperor Shen Nung began investigating the medicinal properties of hundreds of products. He identified more than three hundred and sixty five substances used as medicine or narcotics. The pharmaceutical manufacturing industry took off in the mid nineteen seventies in Germany and Switzerland, as a result of the outgrowth of the chemical industry it spread to England, France and the United States.
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