ipl-logo

Ethics In Pharmaceutical Industry

1851 Words8 Pages

Minor Assignment – Marketing of Pharmaceutical Products and Industry Trends.

By: Hely Desai, P002- M.Pharm + MBA (Pharmaceutics)
Submitted to: Mr. Ashutosh Ojha

Ethicality in pharmaceutical marketing practices in India.

India is amongst the fastest growing pharmaceutical markets in the world. The ethical conduct of Health care professionals (HCPs) is vital to maintain professional autonomy, integrity and freedom in their interactions with pharmaceutical and health care organizations. Implementation of good marketing practices by pharmaceutical companies reflects their transparency and adoption of ethical practices in their operations.
In Pharma industry, direct-to-consumer marketing is not popular as patients rely on doctor’s prescriptions …show more content…

About $12 billion is spend on gifts and payment to physicians by pharmaceutical companies every year. This tends to impair the judgement of the HCP due to conflict of interest between patient safety and personal gain.
India is 3rd largest pharmaceutical industry in terms of volume and world’s 13th largest by value representing nearly half the Rs.93000 crores market. It is even complicated by a highly privatised health system, an uneducated customer base, and the fact of "cross practice”, though it is illegal in most states in India.
The sale of drugs was influenced by aggressive marketing strategies which included incentives to chemists. Doctors are encouraged by Medical Representatives to prescribe their products. According to Retail chemists the multiplicity of brands made it more difficult for them to stock all drugs and the risked being left with unsold stock. So they stocked the drugs of those companies which were promoted well. And other stock is cleared by convincing doctors to prescribe …show more content…

The increasing price and cost pressure, patent expirations on blockbuster drugs leading to aggressive generic competition, public policy and changes in how consumers access medicine are leading to erosion of profit margins. Today's companies are measured on how well their stock performs. The needs of patients are secondary. This has resulted in a greater emphasis on a return on investment from R&D and reducing the amount of capital it is allocated. In turn, this has increased offshoring, the elimination of in-house teams and the flight of scientific expertise into the pharmaceutical

Show More
Related

  • Bennett Drug Policy And The Intellectuals Analysis

    304 Words  | 2 Pages

    The outcome of attempting this would make it even simpler to gain a profit in the drug industry. In the author’s opinion, if the process to acquire drugs becomes simpler, then the number of individuals

    Read More

  • 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

  • Shopper Medical Services Research Paper

    60 Words  | 1 Pages

    The Johnson and Johnson Family of Consumer Companies offers the world 's biggest scope of shopper medicinal services items. Our infant mind, healthy skin, oral care, twisted care, over-the-counter and ladies ' wellbeing items highlight brands trusted by shoppers and human services experts around the world. By envisioning needs and making arrangements and encounters, we enable individuals to live sound, dynamic

    Read More

  • From Claude Hopkins: The First To Revolutionize Medical Advertising

    816 Words  | 4 Pages

    These all led to the beginning of the end for the patent medicine

    Read More

  • Epipens Rhetorical Analysis

    1268 Words  | 6 Pages

    James R. Baker, MD and chief medical officer of Food Allergy Research & Education (FARE), writing an article for the STAT Magazine, discloses information regarding the pharmaceutical drug pricing controversy, in his case EpiPens, that affects many middle-classed Americans. By using the appeals of ethos, logos, and pathos, Baker presents a viewpoint that is antagonistic of the business practices pharmaceutical companies have been following for the last decade. One of the ways Baker acknowledges their argument is by appealing to the emotion of his audience with his introductory sentence that shows how parents are forced to make hard choices surrounding the health of their children. “All too often, parents of children with food allergies are forced to make hard choices. Many are splitting up twin packs of EpiPens, others are keeping them past their expiration dates, delaying filling the prescription,

    Read More

  • Vouchers Pros And Cons

    1687 Words  | 7 Pages

    In 2012, 11 of the major drug companies in the United States each made a net profit of nearly 85 million dollars. Big pharmaceutical companies have gained too much power these past decades. These companies take it upon themselves to decide what drugs are going to be produced and what information is going to be presented or hidden from the American public. Publication bias and conflict of interests are two of the biggest problems in the pharmaceutical industry. Publication bias occurs when companies take the results from the clinical trials and hide the information that could potentially hurt their chances of getting the new drug passed.

    Read More

  • Prescription Abandonment Research Paper

    585 Words  | 3 Pages

    New Prescription Abandonment Imagine going to the doctor’s office because you are having some pain in your wrist and knees. The doctor diagnoses you with rheumatoid arthritis and hands you a prescription for Humira to help subside the pain and prevent further damage to your joints. Everything seems fine and dandy until you reach the pharmacy to get your script filled. You have insurance but the copay comes out to be $120 for a one-month supply of the medication.

    Read More

  • Jean Brody As A Conflict Of Interest

    285 Words  | 2 Pages

    According to Brody, conflict of interest is “the criticism of close ties between the medical professionals and the pharmaceutical and medical device industries” (Brody, 23). In this article, Brody mentions the ethical viewpoints on when conflict of interest gets brought up in a health care setting. Since Brody has his own opinion, he will also address those opinions that are opposing to him. For example, some people view the relationship as a conflict of interest and some people view the relationship in terms of potential loss of trust between patients in general the AAFP (Brody, 24).

    Read More

  • Universal Health Care Case Study

    514 Words  | 3 Pages

    1. Should the United States move to a system that truly provides universal health insurance coverage? What are the key arguments in favor and against? The United States should move to a system that provides universal health insurance or a system that parallels other universal health care systems. It is obvious that the current U.S. health system is failing and falling behind other countries around the world.

    Read More

  • The Pros And Cons Of Deceptive Advertising

    1095 Words  | 5 Pages

    Ethical issues concern in marketing has always been noted in marketing practice. According to Baker and Hart (2008), ethics itself has a profound, varied and rich past. It emphasizes on questions of right and wrong or good and bad. In this essay, it addresses the issues about how marketers should evade deceptive advertising as well as unethical pricing. Deceptive Advertising Deceptive advertising is known as false advertising.

    Read More

  • Medical Office Procedures Research Paper

    440 Words  | 2 Pages

    AAS- Medical Office Procedures Week 2 Discussion Judy Potts Explain why pharmaceutical representatives leave samples of expensive medications with physicians. Pharmaceutical representatives, show the physicians the newest drugs on the market, to drum up business for the pharmaceutical companies. The representatives leave samples of the products, In hopes that the doctor will strat prescribing their new name brand products for his patients instead of generic drugs. Also, in some cases, the patients are not financially able to purchase a new drug not knowing if it will help with their disease. The clinic 's management staff will determine whether they will be except the newest medication samples from the representative.

    Read More

  • Porter's Five Forces In The Pharmacy Industry

    1156 Words  | 5 Pages

    Threat of substitutes (low): This is one of the great advantages of the pharma industry. Because the demand for pharma products continues and the industry flourish. One of the main reasons for high competitiveness in the field is that it is an ongoing

    Read More

  • Porter's Five Forces Analysis Pharmaceutical Industry

    720 Words  | 3 Pages

    With more drugs going off - patent, growth opportunities for the industry are expected to increase dramatically as generic

    Read More

  • Business Ethics Case Study: The Johnson And Johnson Case

    1262 Words  | 6 Pages

    Introduction The key ethical issues that were presented in this case study were quality control, lack of customer care, responsiveness, and harming the customer. The Johnson and Johnson case may have been seen as a turning point due to many things the company did right. However, there were many ethical issues in this case which will be explored more throughout this paper.

    Read More

  • Rorer Converts-Poulenc Case Study

    2104 Words  | 9 Pages

    INTRODUCTION The latter decade of the 20th century brought a number of major innovations to the pharmaceutical industry, most notably a remarkable wave of successful joint ventures and mergers between big and medium players in the market. In this case study we analyzed the Rorer and Rhône-Poulenc (RP) merger in July 31, 1990 that created a major multinational company: the Rhône-Poulenc Rorer, Inc. (RPR), where the RP became the majority shareholder, owning 68 percent of the RPR’s shares. Prior to the merger, Rorer lacked the resources to access the European market, and the firm presented relatively low cash balance and rising debt which, according to financial analysts, appeared to be handicapping its strategy of growth by acquisitions.

    Read More

More about Ethics In Pharmaceutical Industry

Open Document