5 Facts You May Not Know About the Pharmaceutical Industry
The pharmaceutical industry is made up of a variety of drug dealing companies. In most cases these pharmaceutical companies have specified branches that major in manufacturing toxins and poisonous substances. These substances are commonly found in other products such as pesticides, in herbicides and in various household products. When this substances are included in the drugs prescribed to populations they give rise to chronic ailments that are alternatively recommended to be treated. A variety of negative facts that populations may not have discovered shall be discussed below.
Many pharmaceutical companies have over time been known to maximize their profits by burdening patients with high medical bills. Health care bills have over time been reported to increase at an alarming rate that leaves patients both health and financially, deprived. This is because most patients spent more on drugs according to prescriptions given by their doctors which are always comparatively expensive. Many drugs have also been known to have a markup of 100% over their initial ingredients.
Deep Marketing than Research
Many pharmaceutical companies have been known to spend more finances and time on their marketing than the expected research and development case. This has been different to the over time launched claims that prices on prescriptions jerk up in regard to expenses incurred while covering research and development cost. Most of the Pharmaceutical companies, especially, in the U.S have been identified as market driven but this has been challenged by public relations intervention that they should have a research driven and life-saving pharmaceutical industry.
Hiring unprofessional drug sellers
Though it’s very important that all drug representatives in selling have clear science education, some pharmaceutical companies fail to put this aspect in to consideration which leads to great side effects since the drug benefits are at times exaggerated. Prescriptions from unqualified drug dealers have over time been a greater risk to populations all over.
Having Blockbuster drugs
Blockbuster drugs are a great factor that contributes towards most drug prices going out of control. This is because many pharmaceutical companies employ marketing tactics that are directly related to increasing sales. When a certain drug selling performance reaches approximately billion dollars a year in sales it’s referred to as a blockbuster. The pharmaceutical companies are put in a place where they can capitalize on individual’s addictive behavior and have continued prescriptions that guarantee sales and high returns.
“New” drugs not always new
In most instances when a new drug reaches the market it’s always approved as identical to existing ones or their modified versions. The Food and Drug Administration analyzed statistics has over time shown that only a third of new drugs were made based on new molecular entities that contain different treatment procedures particularly. The pharmaceutical companies have therefore been placing high prices for such drugs. This is done to extend their patents and place high competitive standards to other companies which in the long-term maintain its high price. Other drug companies have always performed their clinical trials in underdeveloped companies.
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