ipl-logo

Big Pharma Research Paper

2308 Words10 Pages

Controversy, scandals, fraud, and corruption, surround the pharmaceutical industry (Big Pharma). The name Big Pharma stems from the massive multinational billion-dollar pharmaceutical industries/companies. These massive companies keep up the supply of American medicine cabinets and pharmacies. Pharmaceutical companies control manufacturing, pricing, marketing, drug trials, supply, etc. “The pharmaceutical industry is one of the most powerful forces in America” (Sanders, 2023). Big Pharma is extremely powerful and it is hard to stop price, manufacturing, and supply because they control the healthcare industry. They can set the market any way they want. However, pharmaceutical companies/industries can be sued; it is hard to punish every person …show more content…

Big Pharma can lie about what they do and how they do it, but once caught they downplay it and come up with excuses. Almost all Big Pharma companies engage in illegal marketing tactics to promote their drugs; such as Johnson and Johnson who had to pay billions of dollars in fines (Davies, 2021). Numerous lawsuits have been filed against almost all pharmaceutical companies. However, they can quickly pay off those fines and continue to participate in illegal and unethical tactics to boost their company. Not only are pharmaceutical giants engaging in unethical marketing, they are also corrupting the healthcare system. Enfield states that “.the official definition of organized crime closely matches the activities of the largest drug companies and demonstrates how big pharma has corrupted healthcare” (Enfield, 2020). Big Pharma is corrupting the U.S. healthcare system and everything Big Pharma does is organized crime planned and controlled by a large group. No matter how many times pharmaceutical companies are sued, they will always have something to fall back on, such as the government. The government has very little control over what Big Pharma does, and while crimes Big Pharma commits go to the justice system, Big Pharma has total control. Drug companies have public relations all over and they can portray themselves as research and educational institutions, but that means they don’t have to fess up to what is happening (The Pharmaceutical Industry, 2013). Many pharmaceutical companies can be seen as research and educational institutions, but no one knows what goes on behind the doors. Big Pharma has connections everywhere and it is not necessarily like one can boycott the pharmaceutical industry because many Americans rely on them for life-or-death medications. Not only does Big Pharma have major control, they have even taken their efforts to

Show More
Related

Meat Labeling Industry In Upton Sinclair's The Jungle

1028 Words | 5 Pages

Many believe that the FDA has financial reasons for allowing a drug to be on the market. In 2006, a study found that” in 22% of advisory board meetings, more than half the members had direct financial in the companies whose medial products they evaluated or their rivals”. The FDA’s advisory boards should not be able to vote on companies that they have financial ties to. The FDA says they do the best they can to create an unbiased board, but it is difficult to find “top medical experts with no ties” to pharmaceutical companies. Since a number of people have complained about this, Congress decided to make the FDA cut twenty-five percent of the advisory board that has financial ties with the pharmaceutical company being evaluated over the next five years.

Read More

How Did Martin Shkreli Raise The Price Of Daraprim?

524 Words | 3 Pages

I believe that his action was very unethical and even though it is something legal, nothing should be done to harm the society. Everyone knows that it is not easy to maintain a business, especially with so many rivaling companies trying to also become number one. But doing something to only benefit yourself should be a last resort. Martin Shkreli claims that he raised the price of Daraprim because it is “underpriced relative to its peers” and the new improvements made on the drug are quite exceptional in treating

Read More

Ethical Issues In Human Services Essay

501 Words | 3 Pages

Level headed discussions are extraordinary over how the area is relied upon to work. In this amount driving records in area, NGOs, government, the restorative group, and scholarly world open deliberation and propose answers for the ethical issue of medication industry lead. They investigate such perspectives as the capacity of patent assurance and protected innovation rights, the morals and monetary essentials of study and restorative trials, medicate showcasing, promoting, and

Read More

Big Pharma Conspiracy Theories

600 Words | 3 Pages

One of the most shocking controversy concerns one of the biggest economic industry in the world. Pharmaceutical compagnies are apparently willing to do everything for money, even risking people’s life. They have been accused to invent illness and create the treatments to increase the demand of medications. One of the recent example is the H1N1. Likely, they created the vaccine way before the illness appears.

Read More

Pfizer Is The Most Powerful Political Lobbyist Of The Pharmaceutical Industry

149 Words | 1 Pages

Pharmaceutical companies have trade in health - a basic need and ideally a basic right for all people. Apparently, the work of investors who have come up with possible cures for terminal illnesses like cancer, AIDS etc., poses a serious threat to the position and financials of large pharmaceutical companies. Having two main influence levers - money and connections – drug companies can easily get their voices heard within political arenas, because economic and political interests are always entangled. Pfizer is one of the top most powerful political lobbyist of the pharmaceutical industry (see Exhibit 1), and it is constantly using this power to influence the making of regulations, laws and policies. The network of influence is very broad: Pfizer

Read More

George Stigler's Contributions To The Great Depression

1301 Words | 6 Pages

The FDA is accused of acting in the interests of agricultural, food and drug companies at the expense of the public’s health. Many believe that drugs with bad side effects that should not have been released were allowed because of the company’s deal with the

Read More

Turing Pharmaceutical Companies Ethical Essay

1000 Words | 4 Pages

In recent months, Mylan, an American global generic and specialty pharmaceuticals company, has faced extreme criticism regarding the six-fold price increase of their EpiPen allergy-reaction injector. This increase has consumers asking how could a product whose list price in 2009 was $100 for a two-pack to $608 today be ethically right? Before answering this question, it is important to look at the history of Mylan’s life-saving drug. In 2011, the list price for the EpiPen was $164.98.

Read More

Arguments Against Big Pharma

1087 Words | 5 Pages

Every citizen in the United States has individual rights protected by the Constitution. This protection also includes businesses that have gone through the legal process to become a legal entity ; more commonly known as becoming a corporation. Many times these individual rights, protected by the Constitution, conflict with the common good and as history shows, the courts consistently side with the common good when faced with a case that pits these two against each other. Big Pharma are corporations exercising their individual rights to market, and sell their product to consumers. In the process, the common good is suffering.

Read More

Porter's Five Forces In The Pharmacy Industry

1156 Words | 5 Pages

Rivalry among existing firms (High): The retail pharmacy industry has two 800-pound gorillas: Walgreens and CVS. Both companies have over 7,000 pharmacy stores and both count on prescription drugs for about 65 percent of their revenue. Competition between Walgreens and CVS pharmacies is direct and aggressive. For ex: CVS recently ran an advertisement in millions of circulars instructing Walgreens customers how to transition their accounts to CVS, and this behavior has continued as Express Scripts customers can no longer use Walgreens as their prescription drug provider and CVS works to acquire this market share.

Read More

Argumentative Essay On Fpa Act

641 Words | 3 Pages

The Justice Department (DOJ) was already in a year long investigation into pharmaceutical industry. This is very big because of the of the large number of clinical trials done overseas, and the percentage of drugs that are approved in the U.S. due to these clinical trials. Merck, a very big American pharmaceutical company, and one of the largest in the world, disclosed in its SEC filing that it was under investigation for the FCPA act. Many other major companies such as AstraZeneca, Baxter, Bristol-Myers Squibb, GlaxoSmithKline and Pfizer, receives at least an inquiry letter regarding their practices outside the U.S. (Andersen, 2010) (p.2). Below is a chart of known investigations against companies by industry and against individuals (Miller & Chevalier, 2015).The key FCPA legislation dictates any U.S. company that uses travel, gifts and entertainment to market its offerings to potential customers internationally must obey and understand the accounting and anti-bribery points of the act.

Read More

Decriminalizing Drugs Analysis

744 Words | 3 Pages

Likewise, Hari (2013) argued that opiates in pure form do not damage the organs or flesh. Therefore, people are capable of using low doses of pure opiates and can be productive in the workforce. However, with decriminalizing drugs comes another issue of who will be producing drugs. In the present day, pharmaceutical companies are big money businesses that only care about profits and not the health of the people. Similarly, Hari (2013) illustrates how big pharmaceutical companies essentially are drug lords in the context of prescription painkillers, such as Vicodin or Oxycontin.

Read More

The Pros And Cons Of Pharmaceutical Companies

1164 Words | 5 Pages

It would absolutely be unethical for companies to not sell useful drugs in poor countries simply because they could make more money in other areas. I the end the company will still profit from marketing the drug in both areas. Pharma companies should have an obligation to provide a useful drug anywhere and everywhere it is useful. If the drug is useful then it will sell, making the company money, as well as providing medicine to those who need it. An example of this is Abbott developed Kaletra to treat those with Aides.

Read More

Argumentative Essay On Hidden Cancer Cure

1591 Words | 7 Pages

However, the fact remains that the government and pharmaceutical companies need to do what is right for the population, rather than do what is right for their pockets. In addition, the world

Read More

Should Pharmaceutical Companies Have A Conflict Of Interest

773 Words | 4 Pages

What happen when doctors stand up against the pharmaceutical companies and the media exposing excessive greed? Seeing patience going bankrupt while CEOs of drug companies and doctors are living large, is absolutely despicable. In this assignment, I will attempt to bring to light my opinion about any negotiation, possible conflicts of interest and what our social responsibility entails. Since the highly successful

Read More

Food And Drug Administration Case Study

1081 Words | 5 Pages

However, in 1992, during the Clinton administration, the FDA was changed in a fundamental way that ultimately paved the avenue for the corruption that inhibits the organization from executing its duties today. During this time, the FDA appealed to congress stating that it lacked the proper funding to adequately and efficiently monitor and approve the vast amount of new drug petitions in a safe reasonable timeframe. The solution: congress enacted PDUFA or the Prescription Drug User Fee Act. This act allowed the FDA to charge exorbitant amounts of money in application and renewal fees in new and existing medications (source): The 2017 FDA new drug application fee is $2,038,100; new drug establishment fee is $512,200; annual product registration fee is $97,750 (Mezher pars. 1).

Read More

More about Big Pharma Research Paper

Open Document