business of Pharmaceutical companies:- Pharmaceutical companies are not especially big in terms of revenues‚ but they are very profitable. For instance‚ in 2001‚ Pfizer was ranked 127th in the world on total revenue (US$32·2 billion) but 7th in terms of profit.29 The pharmaceutical industry is the most profitable business sector‚ with an average 16·2% profit‚ ahead of financial companies (11·6%) and beverages (10%).30 However‚ net income growth has declined‚ and growth in the value of drug
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a lot of discussion about pharmaceutical companies‚ intellectual property‚ and the global AIDS epidemic. Do pharmaceutical companies have a responsibility to distribute drugs for free or low cost in developing countries? Why is intellectual property such a big deal? What impact would South Africa’s decision to levy duties on drugs in the country have on the international distribution of drugs? Was the change that provided patent protection for pharmaceutical companies an appropriate change or
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Questions for Review 1. Pharmaceutical companies do have a responsibility to distribute drugs for a low cost in developing and poorer countries. Africa’s GDP‚ and per capita income is very low so they cannot afford to buy top quality medicines. One main argument for this approach is the AIDS epidemic in Africa. A main argument against this is that the treatment for AIDS is very expensive to provide to a whole country for free. 2. The principal arguments of pharmaceutical companies that oppose making
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Pharmaceutical Industry’s Marketing Practices (Against) Marketing is the process by which companies determine what products or services may be of interest to customers‚ and the strategy to use in sales‚ communications and business development. Research and advertising Is a big part of marketing. Marketing involve doing lots of research and is the process by which companies determine what products or service the public wants or needs in order to target the market. Pharmaceutical industry
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Pharmaceutical Marketing Merck “Merck has gone beyond developing and selling prescription pharmaceuticals. It formed joint ventures in 1989 with Johnson & Johnson to sell over the-counter pharmaceuticals; in 1991 with DuPont to expand basic research‚ and in 2000 with Scherigng-Plough to develop and market new prescriptions medicines. In 1997‚ Merck and Rhone-Poulenc S.A. (now Sanofi-Aventis S.A.) combined animal health and poultry genetics business to form Merial Limited‚ a fully integrated
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Pharmaceutical Companies and Ethics It would be a mistake to claim that the pharmaceutical industry has not contributed to a better way of life and a better standard of living. They have come up with treatments for cancer-in some types of cancer they have even come up with the cure. It would also be naïve however to pretend that there are not some issues that have come up throughout the years that lead us to question whether the pharmaceutical industry’s main concern is the well being of the patients
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The discovery‚ development‚ manufacturing and marketing of medicines always involve questions of ethics. For example increasing pressure by governments to reduce healthcare expenditures potentially creates ethical issues for sales and marketing employees as they work to grow in the business. The healthcare industry is highly regulated and most pharmaceutical companies are committed to operating within the law. They have developed their own policies and guidance to ensure that all employees meet the
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The burden of the responsible falls onto to ZAP Pharmaceutical Company since both contact: Written and oral are bindings. According to Section 2-209 of the Uniform Commercial Code it seeks to protect and make effective all necessary and desirable modifications of sales contracts without regards to the technicalities which[at common law] hamper such adjustment. Subsection (1) permits all modifications‚ written and oral‚ to be binding without consideration. Subsection (2) allows the parties to exclude
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A Term Paper on the company BIOCON B.V.Shashidhar 1PI10MBA27 Introduction to the company History Biocon India is incorporated as a joint venture between Biocon Biochemical’s Ltd. of Ireland and an Indian entrepreneur‚ Kiran Mazumdar-Shaw 1979 Biocon is the first Indian company to manufacture and export enzymes to USA and Europe 1989 Unilever plc. Acquires
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Ethics in pharmaceutical marketing xxxxx EMBA 1.1/Academic Skills Subject Outline December 23rd‚ 2012 Prof. xxxxx Ethics and pharmaceutical marketing The pharmaceutical industry has been facing challenges with respect to ethical marketing and promotional practices. The conflict of commercial interests with adherence to ethical practices has been a subject of much deliberation. While such debates tend to have a high degree of subjective and emotive content‚ it is also a concern
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