The Global Pharmaceutical Industry: The Demise and the Path to Recovery

The pharmaceutical industry is facing a day of reckoning due to the exorbitant prices it charges for its prescription drugs, which have escalated at four to five times the cost-of-living increases during the past two decades. This has led to public pressure on governments to control drug prices, but the twenty largest pharma companies realized 80% of their growth as a result of exorbitant price hikes. The breadth and depth of pharmas marketing transgressions exceed those of any other industry, and authorities around the world have taken legal action against its violations. Drastic change is needed if the pharmaceutical industry is to equitably advance the health of the worlds population and regain public esteem.

Format: Paperback / softback
Length: 130 pages
Publication date: 29 April 2022
Publisher: Taylor & Francis Ltd

The pharmaceutical industry, once considered a recession-proof investment, is now facing a day of reckoning. The reasons for this impending downfall are not difficult to discern. Over the past two decades, the prices charged by the industry for its prescription drugs have escalated at four to five times the rate of cost-of-living increases, reaching a point where 30% of Americans must choose between filling a prescription, paying for housing, and buying food. This has led to widespread public pressure on governments worldwide to control drug prices, yet the world's twenty largest pharma companies have realized 80% of their growth through exorbitant price hikes.

Pharma currently enjoys its extraordinary profitability by exploiting the world's most vulnerable populations. However, 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 authorities around the world have found it necessary to take legal action against its violations.

Drastic change is urgently needed if the pharmaceutical industry is to equitably advance the health of the world's population and regain public esteem. This book serves as a comprehensive illustration of the range and extent of pharma's violations and provides recommendations for actions that can be taken 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.

Weight: 240g
Dimension: 229 x 152 (mm)
ISBN-13: 9780367514235