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…
meets the standards set up by various governments. Regulatory affairs specialists are needed in many biomedical industries, one of which is the pharmaceutical industry. A regulatory affairs specialist in the pharmaceutical industry has many duties that one has to perform. A basic overview of a regulatory affairs specialist job description is to ensure that a company’s pharmaceutical products are safe and efficient, as well as to receive the appropriate licensing to put their products…
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…
United States of America under the industry of healthcare. The CV Therapeutics, being Biopharmaceutical Company, which is research oriented, it…
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…
$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…
“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…
to facilitate the process and had exclusive agreements with Biogenic, the main producer of Medicult and partner-up with the largest pharmaceutical company in the fertility industry. She also established an agreement with a financial institution to finance the cost for clients. The agreements and partnership established gave her a significant advantage in the industry. Although, She had competition with already existing fertility clinics that starting offering the same services, like the case…