The pharmaceutical industry is under some controversial issues at the moment. Some of these issues may have, fair reasonable ground, while others issues are not in the vital interest of the concerned parties.
Among the controversies that are facing the pharmaceutical industry is the controversy on whether the American citizens should be allowed to import drugs prescribed to them from Canada. The main reasoning behind this controversy is the lower prices offered on drugs in Canada as compared the prices in America. This controversy may be a relief to most American people who would pay less hence saving more, and also the burden of the expense in purchasing drugs would be lessened considerably. On the other hand, this issue will affect the pharmaceutical industry, and demand for the drug from American pharmaceuticals will fall significantly resulting to closure of many industries and loss of jobs for many America employees working in these industries(Michael A. S, Thomas M. G, 2005). Also, research on new drugs would come to a halt as there is no market for the drug. From all this, Americas drug supply will be dependent on Canada posing a serious threat to such an esteemed nation(Adriana P, Andrew L, Arthur K, 2006).
Another controversy is the singularly much asked question of how important to the government is it to establish the prescription drug plan meant for the elderly. This means that the government is to be the provider of this drug to the elderly. Also, the drug pricing will have to be regulated by the government in the aim of making this project a success. By the government being the provider, the drugs standard requirement is ascertained as proper, and necessary measure will have to met. Legal frameworks and necessary measure are observed in the provision of drugs to the elderly by the government. This will mean that the government will have to form new employment opportunities in order for its project to be achieved. Though on the contrary, government being a provider of the drug will also mean that it is being involved in the pricing of the same drug (Petryna, Andrew, Andrew Lakoff, Arthur Kleinman, 48). To the pharmaceutical industrial is going to be placed in a tough spot as it is independent in the pricing of its own drugs. The government having entered the market will push for standardization of the market price, and as a result, one party will be on the losing end while the rest will be on the winning side ( Michael & Thomas , 76).
At this current time, there is a tremendous increase in direct-to-consumer prescribed drug advertising. Many leading pharmaceutical companies are spending an enormous amount of money in advertising for their products. It is quite advantageous for these companies to advertise their products to the market as they are able to show the availability of what is in demand by the consumer. The advertisement is also promoting knowledge on a variety in the market, and the decision now lies with the consumer. These advertisements are also influencing lowering of prices so as to keep up with the existing competition. The disadvantage of this advertisement is this money could be directed towards other areas like research which would improve the quality of drugs in the industry.
The government, pharmaceutical industries and all other concerned bodies should come together and device a proper framework in response to all this controversies as it their social responsibilities. No party should be on the losing side, and it is also crucial to be fair to the end consumer without charging more. . Pharmaceutical industry is a crucial industry in any country as the well being of its citizen should be handled locally without entrusting it to a foreign country(Michael A. S, Thomas M. G, 2005). It is the social responsibility of the government to provide a conducive working environment for any pharmaceutical industry within its territory.
Petryna, Adriana, Adriana Petryna, Andrew Lakoff, Andrew Lakoff, Arthur Kleinman,
and Arthur Kleinman. Global pharmaceuticals: ethics, markets, practices. Durham: Duke University Press, 2006. Print.
Santoro, Michael A., and Thomas M. Gorrie. Ethics and the pharmaceutical industry.
Cambridge: Cambridge University Press, 2005. Print.