...World PharmaCARE is a hypothetical, successful, pharmaceutical company. The company is one of the world’s most successful pharmaceutical companies which enjoys the status of being a caring, ethical, well-run company that produces high-quality products which saves millions of lives and improves the quality of life for its consumers. PharmaCARE offers free and discounted drugs to low-income families who are unable to purchase expensive drugs. The company also has a foundation which sponsors healthcare educational programs and scholarships with its CEO serving on the PhRMA board. PhRMA, the Pharmaceutical Research and Manufacturers of America, represents the country’s leading biopharmaceutical researchers and biotechnology companies. “Its mission is to conduct effective advocacy for public policies that encourage discovery of important new medicines for patients by pharmaceutical and biotechnology research companies” (PhRMA, 2015). PharmaCARE has developed a new initiative, We CARE about YOUR world, which pledges its commitment to the environment through recycling, packaging changes, and other green initiatives. The company successfully proved its lobbying by defeating environmental laws and regulation, including the reinstatement of the Superfund tax, now known as the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). PharmaCARE, based in New Jersey, maintains a large manufacturing facility in the African nation of Colberia. PharmaCARE has found several...
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...A Critique of Direct-to-Consumer Advertisements Gina Emmanuel Grand Canyon University, NUR 641E August 14, 2013 A Critique of Direct-to-Consumer Advertisements The purpose of this paper is to comprehensively and concisely critique an internet advertisement for the FDA approved prescription drug: dexlansoprazole (Dexilant) and for the non-FDA regulated herbal product Aloe Cure, two products advertised as options in the management of gastro esophageal reflux disease (GERD). Advertisement of just about anything is just about everywhere and with the rapid expansion of technology our society is currently immersed in, getting the word out, whether by print, broadcast, or electronic media, has never been easier. In a country where it is estimated that in 2005 133 million people (1 out of every 2) suffered from a chronic condition it is not surprising that the pharmaceutical companies are taking advantage of technology driven advertisement advancements for product promotion (Center for Disease Control and Prevention [CDC], 2013). Direct-to-consumer (DTC) advertisement, a type of advertisement directed to the public by a pharmaceutical company on the premise that the health of the general public benefits when patients are better educated, is a common practice in the United States PhARM (2008). Through FDA regulation, pharmaceutical companies can create approved drug advertisements geared towards the public. And while an official regulating body is lacking in the fast growing...
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...The program I am going to talk about in this case report is the Prescription Drug Monitoring Program (PDMP) in the United States. A brief history about the Prescription Drug Monitoring Program, through 1989, nine Prescription Drug Monitoring Program has been established. Two were located in state Attorneys General offices (California 1939 and Pennsylvania, 1972); two departments of Public Safety (Hawaii, 1943 and Texas, 1981) one in Department of Substance Abuse Services (Illinois, 1961); one in a Board of Pharmacy; and one in a Department of Consumer Affairs, Bureau of Health Professions (Michigan, 1988). How PDMPs are organized and operated varies among states. Each state determines which agency houses the PDMP; which controlled substances must be reported; which types of dispensers are required to submit data (e.g., pharmacies); how often data are collected; who may access information in the PDMP database (e.g., prescribers, dispensers, or law enforcement); the circumstances under which the information may (or must) be accessed; and what enforcement mechanisms are in place for noncompliance. A lot of people die from overdose of drugs in the United States and from drug abuse, not only that but there a lot of non-medical drug use in the United States as well. According to the Congressional Research Service Seven million individuals aged 12 or older (2.7% of this population) were current nonmedical users of Prescription or psychotherapeutic drugs in 2010 over 1 million emergency...
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...necessary to protect the public, or unless steps are taken to ensure that the data are protected against unfair commercial use.” While Article 39.3 is clearly intended to ensure that “undisclosed test data” was not misappropriated, the pharmaceutical industry associations in the United States and the European Union, representing the larger companies, have argued that Article 39.3 should be interpreted in a manner that provides statutory protection spanning a period of time to data submitted for obtaining marketing approval, among others. In a submission made in 1999, the Pharmaceutical Research and Manufacturers of America (PhRMA) had argued for the implementation of effective data protection standards that provide the intended level and form of protection as provided for in Article 39.3. An effective implementation of data protection standards in view of PhRMA would require that the following steps should be taken: (i) ensure at least ten years of exclusive marketing rights for the pioneer applicant measured from the date of...
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...for the company to avoid providing necessary treatments for policy holders and thus increase company profitability. The highlight of this documentary is how the politicians introduced a paralyzed health system, their nexus with insurance as well as pharma companies and other heart-touching interactions with victims as : A taped conversation between John Ehrlichman and President Richard Nixon on February 17, 1971 led to the origins of the Health Maintenance Organization Act of 1973. Ehrlichman conversation with Nixon states that - "the less care they give them, the more money they make". The President Nixon remarked "fine" and "not bad". Connections are highlighted between Pharmaceutical Research and Manufacturers of America (PhRMA), the lobbying arm of the largest drug companies in the United States, lobbying groups in Washington...
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...Table of Content Introduction/Overview……...………………………………………………….........2-3 Strengths...………………………………………………………………………......3-4 Weaknesses...……………………………………………………………..…………...4 Opportunities…………………………………………………………………….......4-5 Threats…….……………………………………………………………..………….....5 External Factors Impacting Decisions………………………………………………5-7 Possible Future Scenarios…………………………………………………………...7-8 Recommendations for Changes in Culture, Leadership, and/or Structure…………..8-9 Summary/Conclusions………………………………………………………………...9 Reference…………………………………………………………………………10-11 Introduction/Overview To start a company, a person or group of people must realize that it is a bumpy ride from the beginning, and that only those who are prepare enough will succeed. They have to follow multiple rigorous steps and come up with innovative strategies to prove that they have what it takes to be successful in the business. Pfizer Inc. is a company that has proven itself throughout time. They are the world’s largest research based pharmaceutical company and were also recognized by Fortune magazine as the world’s largest pharmaceutical company by profit and second largest by revenue, only next to Johnson and Johnson (Fortune, 2013). Pfizer Inc. have evolve throughout the years along with science and have been responsible for the discovery and marketing of some of the world’s most innovative drugs like, Lipitor (use to decrease cholesterol), Lyrica (use for treatment of fibromyalgia), Zithromax (a renown antibiotic)...
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...You Decide: Case 5.1 Merck Acquisition of Medco You Decide: Case 5.1 Merck Acquisition of Medco When Merck & Company announced plans to acquire Medco Containment Services Incorporated in July, 1993, it signified the changes taking place in the pharmaceuticals industry. At the time, Merck was the world’s largest drug manufacturer and Medco was the leader in prescription benefits management (PBM). The responsibility for managing prescription drug provisions are increasingly contracted out to PBMs who, in turn, manage claims, negotiate discounts with drug manufacturers, and push generics. One could conclude that the prescription decision making process has shifted away from the doctor and is now being made by the PBMs. As a result, drug manufacturers are directing their marketing efforts to a few PBMs instead of thousands of doctors. It was anticipated that eventually the PBMs would begin to contract with one drug manufacturer instead of negotiating deals with several manufacturers. Therefore, firms with manufacturing, distribution, and prescription management capabilities will become the new industry leaders because of intense competition and lower profits. Merck’s goal should be to acquire capabilities and other resources to achieve a sustainable and competitive advantage (Weston, Mitchell, & Mulherin, 2004). Executive Committee Input The Merck Executive Committee consists of the Chief Operating Officer (COO), the Executive Vice President of Sales and Marketing...
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...Review of Industrial Organization (2006) 28:145–164 DOI 10.1007/s11151-006-0010-z © Springer 2006 The Determinants of Pharmaceutical R&D Expenditures: Evidence from Japan ¨ JORG C. MAHLICHa and THOMAS ROEDIGER-SCHLUGAb, Economic Policy Department, Austrian Federal Economic Chamber, Wiedner Hauptstrasse 63, A-1045 Vienna, Austria. b Department of Technology Policy, ARC systems research, Donau-City-Strasse 1, A-1220 Vienna, Austria. Author for correspondence. E-mail: thomas.roediger@arcs.ac.at a Abstract. During the past 20 years, the world pharmaceutical industry has experienced a dramatic increase in R&D intensity. We apply and extend a model developed by Grabowski and Vernon (2000, Journal of Evolutionary Economics, 10, 201–215) with a pooled data sample of the 15 publicly listed Japanese drug firms for the period 1987– 1998. As in the original study, we find expected returns to be an important determinant of R&D spending in the Japanese drug industry, albeit considerably smaller than in the U.S., which is particularly obvious in the case of returns from newly introduced drugs. However, our results are sensitive to econometric model specification, in particular to controlling for serial correlation and to a dynamic specification of the baseline model. Likewise, estimates on financial constraints are sensitive to model specification, indicating that Japanese drug firms face small or no financial constraints. Our results are consistent with the general literature on R&D investment...
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...Building Supply Chain Capabilities in the Pharmaceutical Industry Part 2: Winning supply chain capabilities UPS Supply Chain SolutionsSM Copyright © 2005 United Parcel Service of America, Inc. All Rights Reserved. No part of this publication may be reproduced without the prior written permission of UPS Supply Chain Solutions. Our Insight. A UPS Supply Chain Solutions White Paper In “Building Supply Chain Management Capabilities in the Pharmaceutical Industry Part 1: Trends Impacting the Supply Chain,” we explored the business implications of major trends impacting pharmaceutical supply chains. Unless pharmaceutical companies begin taking action now to create more business-effective cost and process structures, survival will be at stake. These trends are having the greatest impact on sales and marketing, channel management, and new product development and rollout. Ultimately, we believe these trends and implications are converging to create an environment in which price pressures are becoming so intense that a growing number of pharmaceutical companies will struggle to meet shareholder expectations. Unless pharmaceutical companies begin taking action now to create more businesseffective cost and process structures, survival will be at stake. We propose that the winning pharmaceutical companies will build differentiating capability in five supply chain areas: • • • • • Production Fulfillment Customer Management Forecasting & Planning Procurement AS THE MEGA MERGER...
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...Business in Asia Country Based Business Opportunities Project Housing Opportunities in India Entering the Indian Housing Market ASIAM 2005 Due: 16th September 2005 Submitted: 10th September 2005 Submitted by: Please return graded assignment to: Brendan O’Farrell – 15 Tandanya Street Deakin Uni - S/N 201027576 Mansfield QLD 4122 TABLE OF CONTENTS 1. Executive Summary 3 2. Introduction 4 3. Country Profile 5 3.1 Population & Demographics 5 3.2 Raw Materials and Infrastructure 6 4. Socio-culture 7 4.1 Religion and Language 7 4.2 Indian Housing 7 4.3 Regional Development 8 4.4 Business Environment 9 5. Political, Security and Legal 10 6. Current and Future Environmental Factors now and as at 2008 11 6.1 Economical 11 7. Industry and Competitor Analysis 13 8. Strategy and Planning 14 8.1 Product Description 14 8.2 Product Manufacturing 14 8.3 Product Distribution Channel 15 8.4 Resource Delivery and Labourer Relations 16 8.5 Product Advantage 16 9. Mode of Entry 17 9.1 Options for Mode of Entry 17 9.2 Recommended Mode of Entry 18 9.3 Organisational Structure and Compensation 20 10. Monitoring and Control 21 10.1 Product Monitoring 21 10.2 Performance Measurement 21 11. Future and Exit Strategy 22 12. Conclusion 23 13. References 24 14. Appendices 27 1. Executive Summary This report was commissioned to examine and analyse environmental information on India to produce...
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...Ethics and Corporate Responsibility in the Workplace and the World Introduction PharmaCARE (We CARE about YOUR health®) is one of the world’s most successful pharmaceutical companies, enjoying a reputation as a caring, ethical and well-run company that produces high-quality products that save millions of lives and enhance the quality of life for millions of others. The company offers free and discounted drugs to low-income consumers, has a foundation that sponsors healthcare educational programs and scholarships, and its CEO serves on the PhRMA board. PharmaCARE recently launched a new initiative, We CARE about YOUR world, pledging its commitment to the environment through recycling, packaging changes and other green initiatives, despite the fact that the company’s lobbying efforts and PAC have successfully defeated environmental laws and regulations, including extension of the Superfund tax, which was created by Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). Based in New Jersey, PharmaCARE maintains a large manufacturing facility in the African nation of Colberia, where the company has found several “healers” eager to freely share information about indigenous cures and an abundance of Colberians willing to work for $1.00 a day, harvesting plants by walking five (5) miles into and out of the jungle carrying baskets that, when full, weigh up to fifty (50) pounds. Due to the low standard of living in Colberia, much of the population...
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...Due to its increasing demand and globalization, the Brand Name Pharmaceutical Manufacturing in the United States will continue to be profitable despite competition from generic pharmaceuticals, barriers to innovation, and safety regulation. An industry overview Brand Name Pharmaceutical Manufacturing in the United States is one of the largest industries in the world today. This industry produces prescription and over-the-counter drugs as well as biologic products that are primarily intended for the treatment of human illnesses (Zhong). Its major products and services include other pharmaceutical preparations, biological products, oncological products, medicinal and botanical products, respiratory agents, lipid regulators, anti-diabetics, and in-vitro diagnostic substances (Turk). Similar industries include generic pharmaceutical, cosmetic and beauty products, scientific research and development, and biotechnology manufacturing in the United States (Zhong). The Center of Drug Evaluation and Research (CDER) of the Food and Drug Administration (FDA) (Zhong) is the government agency in charge of regulation and oversight of this industry. It consists of 1,575 businesses. Major players and their market shares consist of Pfizer Inc. (10.9%), Merck and Co. Inc. (10.4%), Johnson & Johnson (8.0%), Amegen (7.4%), Eli Lilly & Company (7.2%), and Abbvie Inc (6.4%) (Turk). In 2013 it brought in $165.0 billion dollars in revenue and $35.6 billion in profits. Between the years of 2012 and...
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...PharmaCARE Company is a well successful pharmaceutical company known to produce high quality products that have saved millions of lives and enhanced a quality of life to others. The Company is recognized for offering free and discounted drugs to low-income consumers, and has a foundation that sponsors healthcare educational programs and scholarships, and its CEO serves on the PhRMA board. The company is located in New Jersey, and maintains a large manufacturing facility in the African nation of Colberia. In this, paper I will review questions that arose from a given scenario that PharmaCARE Company encountered while they reformulated one of its top-selling diabetes drug. PharmaCARE established a wholly-owned subsidiary called CompCARE to operate as a compounding pharmacy to sell the new formulation to individuals on a prescription basis. I will highlight the negative impacts the new drug caused to individuals, and the negligence the company had towards the working condition of its employees. Determination of all the stakeholders in the given scenario Stakeholders are defined as individuals who are involved in, have a vested interest in, or a “stake” in the success of an organization (Merriam-Webster, 2011). Internal stakeholders will participate in the strategic development of coordinating resources to fund and sustain an operation, whereas external stakeholders are not directly connected to the organization; however, they are vested in the company success as clients, business...
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...Institutionalized Murder MV Courage Pharmakeia or pharmakon? Mercury laced flu shots, dental amalgam, thimerosal, warfarin, digitalis, and pharmaceutical synthetics are considered medicine while natural herbs and essential oils are thought of as mere potions or even sorcery by the FDA and traditional pharmacology business commonly referred to as Big Pharma. Big Pharma, derived from PhRMA-the Pharmaceutical Research and Manufacturers of America, is worth roughly around 300 billion US dollars and wields enormous influence over modern Western medicine, insurance, litigation, government, and health with leverage from huge profits and about 3,000 paid lobbyists. Harvard Business School Professor William George asked, “Is the role of leading large pharmaceutical companies to discover lifesaving drugs or to make money for shareholders through financial engineering?” Pfitzer made a bid to buy AstraZeneca and Valeant Pharmaceuticals International takeover bid for Allergan have monetary gains of lower tax liabilities and another income stream. Biopharmaceutical companies are expensive to run under high risk-only significant profits will guarantee solvency. Clinical trials and drug development are chosen by the significant profit margin and medical breakthrough. For example, aspirin has been a generic drug since 1919 with a cost less than $6.00 for a year supply and may improve survival and reduce the recurrence of some cancers. But running clinical trials to prove or disprove the benefits...
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...February 21, 2016 Law, Ethics, and Corp. Governance PharmaCARE (We CARE about YOUR health®) is one of the world’s most successful pharmaceutical companies, enjoying a reputation as a caring, ethical and well-run company that produces high-quality products that save millions of lives and enhance the quality of life for millions of others The company offers free and discounted drugs to low-income consumers, has a foundation that sponsors healthcare educational programs and scholarships, and its CEO serves on the PhRMA board. PharmaCARE recently launched a new initiative, We CARE about YOUR world®, pledging its commitment to the environment through recycling, packaging changes and other green initiatives, despite the fact that the company’s lobbying efforts and PAC have successfully defeated environmental laws and regulations, including extension of the Superfund tax, which was created by Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). Based in New Jersey, PharmaCARE maintains a large manufacturing facility in the African nation of Colberia, where the company has found several “healers” eager to freely share information about indigenous cures and an abundance of Colberians willing to work for $1.00 a day, harvesting plants by walking five (5) miles into and out of the jungle carrying baskets that, when full, weigh up to fifty (50) pounds. Due to the low standard of living in Colberia, much of the population lives in primitive huts with no electricity...
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