Big Pharma

October 8th, 2013

 

The pharmaceutical industry is worth over 1.2 trillion dollars worldwide and is expanding constantly. Being one of the most lucrative aspects of the chemical industries, and benefiting from millions in government support and incentives, it is an industrial behemoth. Spearheaded by its army of sales people, these massive multi- national corporations are motivated largely by profit and expansion, which contrasts sharply with the humanitarian aims of the average nurse or health worker.

It is a well known fact that the drug companies are constantly barraging doctors, hospitals and health centres with advertising and marketing materials for more and more products, (not always products that are important or beneficial to the consumers) but always intended for the economic benefit of the pharma companies themselves.

This fundamental conflict of interests has always existed and many pharmaceutical companies have been found to be exploitative and even downright dishonest and shady in their activities on occasions. By law they have to comply with very stringent international regulations which set important standards regarding ethical business practice, safety and accountability.

All the same these companies have a vested interest in diseases and ailments, and are constantly searching for new markets to cater to - what may be considered a minor problem one year can be hyped into a clinically life-threatening syndrome the next, always with a miracle wonder drug that seems to come to the rescue just in the nick of time...

They have to be extremely careful during their research and development and testing then finally marketing their products and all of them have regulatory compliance very much on their minds in order to avoid costly lawsuits and bad publicity which can greatly harm their sales. Much of this is automated nowadays and many companies and consultants routinely use  regulatory compliance software to keep safely in line with current industry and governmental standards and guidelines.