Pharmaceutical Companies: A Comparative Analysis

Improved Essays
Author Jonathan Safran Foer said in his 2009 book, Eating Animals, “It 's always possible to wake someone from sleep, but no amount of noise will wake someone who is pretending to be asleep” (53). He verbalizes what most are afraid to consider; the American medical programs are problematic, and the profiteers and distributors of drugs feign ignorance over the corruption of the industry. Unfortunately, these issues are deeply rooted in the history and practices of doctors and pharmaceutical companies. The United States healthcare system needs to be reformed because not only do the underinsured receive secondary treatment due to the Food and Drug Administration standards, but doctors pocket “gifts” from prescription drug companies and those with …show more content…
However, in this money reduction phenomenon is where the problem lies. Essentially, the entire pharmaceutical industry is motivated by greed and monetary values over the act of helping people with illnesses. According to the 2013 National Health Interview Survey, 8% of U.S citizens did not take their prescriptions in an attempt to save money (Report: Patients Forgo). Pharmaceutical companies are typically granted patents on their drugs for up to twenty years, during which they can be “exploited commercially” (Harvey 16+). After that, more affordable generic brands can be put on the market. Most people cannot afford the price of brand drugs, and in those cases the generic brands become a necessity. “…due to high prices set by pharmaceutical companies, few can afford the medicines they need (Harvey 16+).” This is where the largest problem is; this is where the most people suffer. Pharmaceutical companies often will, after the end of the initial twenty years, change a small aspect of the drug and remarket it under a new patent. Then the advertisements of this new drug are used to prevent doctors from prescribing the generic brand to patients (Appleby). Pharmaceutical companies argue that high prices for drugs are a necessity, due to research and development prices; that is the furthest from the truth as the public pays for 80 percent of those costs. Donald Light, professor of comparative healthcare at the University of Medicine and Dentistry of New Jersey says, “Pharmaceutical companies insist on such high prices for drugs because they have to subsidize the initial risks and clinical trials, which they report costs between $1.3 and $1.7 billion per new drugs, but no study has ever been published to support this claim.” Instead, he presents an analysis that indicates the actual cost of research and development

Related Documents

  • Improved Essays

    The Pharmaceutical industry is a $300 billion dollar business which receives a lot of scrutiny in regards to their purpose, side effects, and lucrative schemes (Prescription Drug).The effects of the prescription drugs can be deadly if not used properly. Prescription drugs are responsible for more deaths annually than illegal drugs (Mercola). Ironically, the thing that is supposed to help individuals with their health concerns is actually killing them instead. This is the result of patients receiving prescriptions with the doctor’s expertise. On the other hand, if individuals were permitted to receive medication upon request, regardless of their symptoms or lack thereof, then the consequences would be dire.…

    • 555 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    In Celine Gounder’s article Who is Responsible for the Pain-Pill Epidemic? we see one doctors’ search for who is to blame for the current state of opioid dependency in America. What happened and how it happened occupy the first few pages of her article. In 1980 and in 1986 “two small accounts in medical journals” (Gounder) seemed to suggest that opioids weren’t that bad.…

    • 436 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    According to a survey conducted by the Commonwealth Fund, 35 percent of Americans have difficulty paying their medical bills, and 25 percent do not visit a doctor when they're sick, due to the cost. (Mercola) C. Another problem with the US health care system is that as opposed to other countries, American laws prevents the government from controlling drug prices. (Mercola) 1. An example of this is the recent price increase of Daraprim that was priced at $750 by Turing Pharmaceuticals, simply because they could. (Pollack) 2.…

    • 674 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    In David Badcott’s position paper “Big Pharma: A Former Insider’s View,” Badcott makes the assumption that the future of healthcare will predominately focus on the administration pharmaceutical drugs, which is not true because drugs can cause complications in individuals and thus require medical attention from healthcare practitioners. Badcott implies that the services of healthcare professionals will become obsolete. This implication is not true because there are healthcare services that do not primarily focus on treatment with medicinal drugs. Although pharmaceutical drugs play a huge role in the current healthcare industry, the role of the medical practitioner is as equally important. Badcott states the effectiveness of newer pharmaceutical drugs allow for the reduction of “total health expenditures by lowering the need for other types of medical services” (Badcott 252).…

    • 706 Words
    • 3 Pages
    Improved Essays
  • Superior Essays

    Ethical Ethics Of Epipen

    • 1698 Words
    • 7 Pages

    The United States drug regulations are a joke. The only developed country I 've heard about that allows monopolies in the pharmaceutical world. Literally allowing them to set their own prices on drugs that have the capability to save one 's life. Recently, I did some research on EpiPens and their outrageous price hike. Knocking on the door on what we may think is unethical and inappropriate.…

    • 1698 Words
    • 7 Pages
    Superior Essays
  • Improved Essays

    The Wall Street Journal writer, Drew Altman, states that “seventy-six percent of the public blames drug companies for high drug prices – with just ten percent blaming insurers” (Altman). Since the main buyers of medications are private insurers and the federal government, the pricing decision commonly does not consider the patient’s affordability. Pharmaceutical firms such as Medicare are not allowed to discuss prices with manufacturers while the Food and Drug Administration (FDA) does not consider cost in medication approval at all. Rare value and lack of alternatives influence high costs and “although some price increases have been caused by shortages, others have resulted from a business strategy of buying old neglected drugs and turning them into high-priced ‘specialty drugs’” (Pollack).…

    • 727 Words
    • 3 Pages
    Improved Essays
  • Great Essays

    Epipen Case Study

    • 1781 Words
    • 8 Pages

    In turn, pharmaceutical prices have also increased, as seen with the price of the EpiPen. Furthermore, a study done by the Congressional Budget Office emphasizes the lack of the output of new drugs in recent years, which highlights the need for an increase in further research and development (“Research and Development,” 2006). This being said, society’s need for new, innovative pharmaceuticals is only possible through further research and development, which requires sufficient funding from pharmaceutical companies that is attained through drug…

    • 1781 Words
    • 8 Pages
    Great Essays
  • Great Essays

    To which the general public will buy their medications from. “They are accusing 22 drug manufacturers of illegally conspiring to fix prices by offering discounts to health maintenance organizations and others but not to retail pharmacies.” “Freudenheim,…

    • 1968 Words
    • 8 Pages
    Great Essays
  • Improved Essays

    The United States have spent far more money on the health care than any other countries. At 17.1% of their gross domestic product on health care, the United States devoted at least 50 percent more of its economy to health care than do other countries (Squires &Anderson, 2015). Even with so much spending on healthcare, people in the United States are still unable to afford the health care prices, particularly the need for prescription drugs. It is difficult for consumers who have already spent money on health coverage, and with high drug cost due to pharmaceuticals’ regulation on price increased the burden for patients to afford the drugs that they need. Drugs are created and manufactured by the pharmaceutical companies where they have the authority…

    • 1525 Words
    • 7 Pages
    Improved Essays
  • Improved Essays

    Disease Mongering Essay

    • 1290 Words
    • 6 Pages

    While critics fail to recognise the consumer-origin for the demand of treatment drugs, they do recognise the opportunistic nature of marketing and consumerism. Pharmaceutical companies take advantage of the human pursuit of perfection. As is human nature, we are creatures striving to improve our own desirability and longevity. Consumers create the market for drugs that eliminate or reduce illnesses and ailments viewed as undesirable. Pharmaceutical companies merely take advantage of that, introducing quick-fix ways by which health and wellness can be…

    • 1290 Words
    • 6 Pages
    Improved Essays
  • Superior Essays

    Americans use more prescription drugs than any other developed country. Prescription drugs only represent 12 percent of total health care costs in the United States, but the rising prices of those drugs is an issue that keeps reoccurring not only for patients, but for prescribers, payers, and policy makers. There are people that believe that the rise in price of these drugs is appropriate, but if they keep on rising in price, the United States will start suffering not only financially but medically. Despite a lot of other aspects of the economy rising in price, pharmaceutical drugs should be lowered, or should at least be kept at a reasonable rate. The rise in prices of prescription drugs is an issue that does not seem to be going away…

    • 2472 Words
    • 10 Pages
    Superior Essays
  • Decent Essays

    Although prices continue to climb unchecked, some consumers exploit other means to reduce the amount of money they spend on prescription drugs. One of the best and most affective options is the generic drug market. For years generics where the answer to combat the rising costs of name brand medications. Lori Chordas notes generic versions of prescription drugs, “…save consumers up to $10 billion at retails pharmacies, each year… and cuts cost between 30 to 80 percent.” Generic options are just as effective as name brand medications, and without the costs for advertisement, fancy labels, and R&D they bypass the high prices name brand medications have.…

    • 250 Words
    • 1 Pages
    Decent Essays
  • Superior Essays

    Due to many scientific and technological advances, more medicines begin to produce. Scientific and technological advances are not the problem we do need these resources but the problem is that they have manage to take on our daily lives. For instance, so and so stets, “There are twenty five percent of two ads in this country that are drug commercials. Why? It is not because they live spending a lot of money.…

    • 1154 Words
    • 5 Pages
    Superior Essays
  • Improved Essays

    America’s Health Care Empire According to Business Insider, if America’s health care system was a country, it would have the sixth largest economy in the entire planet. And despite it being wealthy, it’s the only industrialized nation that does not have a universal health care system (Statistics). America’s health care system is an atrocity in our society because it is bankrupting millions of Americans in addition to offering ineffective treatment to those who need medical care. It has been estimated that hospitals overcharge Americans by about 10 billion dollars each year (Snyder).…

    • 526 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    The core of the pharmaceutical industry problems consists of the expiration of patents, rising R&D expenses, and uncertainties facing new researched products and their abnormal methods of circulation of returns from said product. As rooted in the topic of this case AstraZeneca upholds the gold of innovatively changing the way medicine reaches patients. When patents are first granted there are procedures that followed before a drug reaches the marketplace. Due to the extended timeframe that is required for clinical trials, studies and organizational processes to tested and developed the revenue phase of the drug decreases (Hitt, Ireland, & Hoskisson, 2015). More specifically after the developed drug is ready for sale the patent remaining on these products are near expiration.…

    • 703 Words
    • 3 Pages
    Improved Essays