The Global Pharmaceutical Industry: The Demise and the Path to Recovery, 1st Edition (Hardback) book cover

The Global Pharmaceutical Industry

The Demise and the Path to Recovery, 1st Edition

By Daniel Hoffman, Allan Bowditch

Routledge

136 pages

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Hardback: 9780367485511
pub: 2020-07-07
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Description

The pharmaceutical industry, long thought of as a recession-proof investment, now faces a day of reckoning. The reasons for this impending downfall are not hard to discern. The prices the industry charges for its prescription drugs have escalated at four to five times the cost-of-living increases during the past two decades and have reached a point where 30% of Americans must choose between filling a prescription, paying for housing, and buying food. This has brought about public pressure on governments around the world to control drug prices, yet the world’s twenty largest pharma companies realized 80% of their growth as a result of exorbitant price hikes.

Pharma currently enjoys its extraordinary profitability by exploiting the world’s most vulnerable populations. Yet even their ability to increase prices in the face of falling demand does not satisfy their profit demands. The breadth and depth of pharma’s marketing transgressions exceed those of any other industry and have now reached a point where authorities around the world have found it necessary to take legal action against its violations. Drastic change is needed if the pharmaceutical industry can equitably advance the health of the world’s population and regain public esteem.

This book illustrates the range and extent of pharma’s violations and addresses the actions that should be implemented in order to make the drug industry a more constructive, less venal part of contemporary society. It will be of interest to researchers, academics, practitioners, and students with an interest in the pharmaceutical industry, healthcare management, regulation, and bioethics.

Table of Contents

1. From Family Businesses to Public Darling to the Monster Serving Wall Street;

2. Pharma’s Violations and Dirty Tricks;

3. The Economics of the Pharmaceutical Industry;

4. A Somnolent Public Awakens;

5. The Path Toward Reform;

About the Authors

Daniel Hoffman is the president of Pharmaceutical Business Research Associates (PBRA), USA.

Allan Bowditch is the former CEO of Martin Hamblin Healthcare and a Consultant to the Pharmaceutical Industry, USA.

About the Series

Routledge Advances in Management and Business Studies

Management and business studies are firmly established as a popular, important and significant area of study in the academic world. Bringing together theories and thought from a wide range of disciplines, this series features cutting -edge research addressing all the major issues in business and management today, helping to define and advance the field.

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Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS063000
BUSINESS & ECONOMICS / Strategic Planning
BUS070130
BUSINESS & ECONOMICS / Industries / Pharmaceutical & Biotechnology
BUS103000
BUSINESS & ECONOMICS / Organizational Development
BUS104000
BUSINESS & ECONOMICS / Corporate Governance