StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Pharmaceutical(Pill Mills) Industry Regulate and profitability - Research Paper Example

Cite this document
Summary
Pill Mill is a word used to describe a doctor, clinic or a pharmacy that prescribes or dispenses powerful narcotics inappropriately and without knowledge in the field for non- medical reasons. They give pharmacologists and doctors’ fraternity a bad image and at the same time…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER95.2% of users find it useful
Pharmaceutical(Pill Mills) Industry Regulate and profitability
Read Text Preview

Extract of sample "Pharmaceutical(Pill Mills) Industry Regulate and profitability"

Pharmaceutical [Pill Mills] Industry Regulation & Profitability Introduction Pill Mill is a word used to describe a doctor, clinic or a pharmacy that prescribes or dispenses powerful narcotics inappropriately and without knowledge in the field for non- medical reasons. They give pharmacologists and doctors’ fraternity a bad image and at the same time put people’s lives at risk. They have weird operations like treating all pains with pills only, lack of physical examination, there is no examination of medical history, patients are directed to their pharmacies only, patients pick the medicine of their choice, and the mode of payment is always cash.

Due to their short business span in a given location, they have huge crowds waiting to see the doctor and they have body guards just in case of invasion. This is misuse of pharmaceutical industry which calls for immediate action to protect lives of citizens and health sector (Drugs Policy Alliance, 2007).Question 1: Is pharmaceutical industry regulated? If yes, how does the Pill Mills get regulated?Yes, the pharmaceutical industry is regulated. Secondly, the law requires a medical professional to write prescriptions if you want to move large amount of pain killers in America.

There is also existence of Healthcare Distribution Management Association [HDMA] which controls the supply of narcotic substance. Finally, DEA’s power to suspend/revoke licenses of distributors in case of ethical malpractices acts as control measure (United States-Canada Regulatory Cooperation Council, 2011).Question 2: Who regulates the industry?DEA regulates the industry by formulating the policies to govern production, distribution and prescription of narcotic substances. Also HDMA in its management on distribution of health care products and combating drug abuse role.

Food and Drugs Administration [FDA] is a regulator in that it supervises food safety, dietary supplements, prescriptions of over- the- counter medicines, blood transfusion and other medical and dietary specializations.Question 3: How does the regulation have the impact on Pill Mills ability to do business?As discussed above Pill Mills are not legitimate and their operations involve procurement of sub-standard drugs and supplements which are then prescribed to patients inappropriately. Law enforcement and implantation of drugs policy Acts make it hard for these businesses to transact.

For instance, regulation of the amount of pain killers to be produced by DEA and monitoring of distribution channels by HDMA will affect their supply and establishment of their quack businesses. In addition, proper scrutiny of food and narcotic products by FDA makes it difficult for Pill Mills to establish their business (FDA’s International Post, 2010).Question 4: How profitable is the Pill Mill business and how regulation affects its profitability?Pill Mills are established with an immediate response to the common problems especially pain.

Their pricing is low compared to other health centres, there are no examination costs and the fact that they get substantial drugs and refers patients to their chemists; necessitate them to make super normal profits. Regulation affects their profitability negatively in that they cannot procure cheap drugs; their core business establishment is illegal and abolishment of their operations and channels (Harry & Will, 2008).ConclusionHealthcare is a sensitive field which requires qualified professionals.

Without proper regulation and monitoring of the health sector by the involved stakeholders, will lead to rise in Pill Mills whose activities is a threat to health and tarnishes the image of the health sector.ReferencesDrugs Policy Alliance: a journal of Mission and Vision: May3, 2007.Harry J. & Will O.(2008). The Murderers: The Story of the Narcotic Gangs, 3 ed, New York: Farrar, Straus and Cudahy.John, S. (August 5, 2013). "How DEA program differs from recent NSA revelation on drugs”. Retrieved August 5, 2013.

FDAs International Posts: Improving the Safety of Imported Food and Medical Products in America”. USFDA. Retrieved April 10, 2010United States-Canada Regulatory Cooperation Council (RCC) Joint Action Plan: Developing and implementing the Joint Action Plan of the next decade”. Washington, D.C.: Office of the Prime Minister of Canada. December 7, 2011.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Pharmaceutical(Pill Mills) Industry Regulate and profitability Research Paper”, n.d.)
Pharmaceutical(Pill Mills) Industry Regulate and profitability Research Paper. Retrieved from https://studentshare.org/miscellaneous/1622785-pharmaceuticalpill-mills-industry-regulate-and-profitability
(Pharmaceutical(Pill Mills) Industry Regulate and Profitability Research Paper)
Pharmaceutical(Pill Mills) Industry Regulate and Profitability Research Paper. https://studentshare.org/miscellaneous/1622785-pharmaceuticalpill-mills-industry-regulate-and-profitability.
“Pharmaceutical(Pill Mills) Industry Regulate and Profitability Research Paper”, n.d. https://studentshare.org/miscellaneous/1622785-pharmaceuticalpill-mills-industry-regulate-and-profitability.
  • Cited: 0 times

CHECK THESE SAMPLES OF Pharmaceutical(Pill Mills) Industry Regulate and profitability

Economical aspect in pharmaceutical industry

The most controversial aspect of pharmaceutical industry is its economical aspect: on the one hand it is a monetary source for further investment in innovative development of drugs and on the other hand it is often misused for the establishment of unreliable relations with doctors, who are manipulated by a variety of gifts.... hellip; An interesting question comes to our mind when pharmaceutical industry and ethics are correlated with each other: on the one hand it is cannot be questioned that medicine could be unethical, because this field protects and saves our lives; but on the other hand, very often not a human health or life is of central concern for modern medics, but profits gaining....
2 Pages (500 words) Essay

The US Pharmaceutical Industry

The author of the essay "The US Pharmaceutical industry" casts light on the pharmaceutical industry of the USA.... Admittedly, the US pharmaceutical industry has a strong position in the world market and has a high level of innovation with at least 9 of the top pharmaceutical companies in the country.... hellip; The United States pharmaceutical industry can be considered as a highly competitive market.... Ultimately, the competitiveness of the industry is fundamentally ensured by the fact that it relies on research....
3 Pages (750 words) Essay

Alpharmas 2003 Financial Statements

is one of the giants in the global pharmaceutical industry.... Alpharma Inc, as stated above, is said to be one of the giants in the international pharmaceutical industry.... The company does not only develop the pharmaceutical products, but also manufactures them and market them to make them available in most parts of the world. … Due to the every increasing cost and expenses that adversely affected the company's profit margin, even though the company was having substantial increase in turnover and revenues, the management decided to launch a workforce reduction program in the year 2003....
9 Pages (2250 words) Essay

The Positive Effect and Impact on the Economy

In view of this, we tend to give priority attention to the following projects if anyone or organization proposes or presents any of them to us for start-up and support: [1] Mass production of cassava and cassava end products [2] Mass production of wheat and wheat end products [3] Mass production of yam tubers and derivatives [4] Mass production of maize and by products [5] Mass production of rice grains and by products [6] Mass production of cowpea and by products [7] Mass production of groundnuts and by-products [8] Mass production of cotton and by-products [9] Mass production of fish [10] Mass production of poultry [11] Mass production of cattle and by-products There will also be consideration for such agriculture related businesses as production of fertilizer, fabrication and procurement of agricultural equipment and implements, cassava chips and starch, maize starch for the Pharmaceutical industry and other end users....
11 Pages (2750 words) Essay

Pharmaceutical Industry Critisizm

The fine only had a short term detrimental effect in the profitability of the company.... The following paper will analyze financial statistics in order to investigate the reasons of the general public to criticizing the pharmaceutical industry and its participants.... A common criticism of the industry is that it charges too much money for the drugs it sells.... nbsp;… The pharmaceutical industry is one of the largest and most powerful industries in the world....
2 Pages (500 words) Research Paper

How Healthcare Strategies Differ from Other Business Strategies

The companies associated with Health care strategy are pharmaceutical companies, DME manufacturers, regulatory public health agencies, biomedical and biotechnological companies, public health financing agencies (CMS), Veterans Health Administration (VHA), and state public health departments....
11 Pages (2750 words) Research Paper

Strategic Analysis of Pharmaceutical Sector Company - GlaxoSmithKline

The pharmaceutical industry has become tougher and more competitive due to tighter regulations, raft of patent expiries and technological advancements.... Climate has emerged to be a key issue in the industry, with stakeholders striving to come up with products that do not have detrimental impacts on health and the environment.... The pharmaceutical industry has generally performed well and managed to preserve various incentives to invention....
12 Pages (3000 words) Essay

Strategy, Business Information & Analysis

The aim of this report is to analyse the healthcare industry in Sri Lanka based on the Porter's five forces framework, and to evaluate the outside-in approach to strategy formulation.... The remainder of this paper is structured as follows: Section 1 presents a Porter Five Forces… Analysis for the healthcare industry in Sri Lanka; Section 2 provides a more detailed analysis of the most important forces to consider for healthcare operators and main reasons; Section 3 offers a critical evaluation of the outside-in approach to strategy formulation; Section 4 Sri Lanka is one of the few countries in the world, providing free universal healthcare, including both education and healthcare services (Workinsrilanka....
12 Pages (3000 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us