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What kind of demand exists for pharmaceutical products

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Reference no: EM133561158

Case Study: Pharmaceutical companies give doctors money and other promotional benefits when they recommend their products; some receive hundreds of thousands of dollars. J&J Pfizer, GSK and other drugmakers are now disclosing payments they make to doctors, medical centers and academic institutions. During the second half of 2009, Pfizer paid $35 million to 4,500 doctors and academic medical centers, and GSK reported paying $14.6 million during the second quarter of 2009. In total, the pharmaceutical industry spends about $20,000 millions of dollars a year in marketing to healthcare professionals. These payments take the form of gifts, food, travel, conference fees, medical samples, and educational programs. Currently, companies are providing this information voluntarily. However, due to the "anti-corruption regulations" of the Health Care Reform Act, starting in early 2013, pharmaceutical companies will be required to publicly disclose accrued payments to healthcare professionals that total $100 or more per year.

Questions: When you write your answer you should use complete sentences using the rules of grammar, punctuation, and spelling.For a complete development, a response with a minimum of 250 words is recommended.Please be sure to cite your sources.

1. What kind of demand exists for pharmaceutical products and medical devices? Discuss the roles that physicians play in the business purchasing process for medical equipment used in hospitals, and why companies spend so much marketing effort on them (AACSB: Communication; Reflective Thinking).

2. Should promotional relationships between doctors and pharmaceutical and medical device companies be allowed? Discuss the advantages and disadvantages of this practice. Would publicly declaring this relationship affect your decision about which doctors you would visit? (AACSB: communication; reflective thinking; ethical reasoning).

 

 

 

Reference no: EM133561158

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