The Pharmaceutical Industry PowerPoint
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The class was instructed to create a PowerPoint that explained the pharmaceutical industry in the US and it's role.
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The Pharmaceutical Industry PowerPoint
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- The pharmaceutical industry works with medicines to benefit individuals that need treatments. It provides the community with medications that are needed, as well as researches other medications to improve them. It also may use the research to discover new drugs. By doing this, the industry is improving the lives of individuals and extending life expectancy.
- The pharmaceutical industry has not only drastically changed but has improved over the course of time. Many of the former remedies used long ago are still used today. However, research is causing more discoveries for medicines every day. We now have many more cures for diseases and are still working on cures to others, such as AIDS and cancer.
- The FDA and pharmaceutical industry have close ties to keep the public safe and informed. They test products to make sure that they cure what they claim to cure. For example, there are many products, such as medicines and cosmetics, that do not do what they claim to do, and the FDA is constantly testing these products to be sure of their effectiveness. If they do not pass the testing, they are quickly taken off market.
- If a product seems to be useful, there are four measures that are taken to ensure the safety of the product. The preclinical safety assessments are used to see the effects the product has on an animal. If the animals tested become ill or disease ridden, the product is usually cut off (Torrens & Williams, 2008).
- Clinical studies are conducted to test not only the safety of the product, but also the efficiency. It can take years of studies to get the appropriate information needed to decide if the product is safe and useful. If ruled safe and effective, the sponsor will send a report to the FDA. The FDA will decide if the product can be manufactured and sold. This process usually takes about ten to twelve months (Torrens & Williams, 2008, p. 278).
- Pharmacists are human, and therefore make mistakes. Emotions and fatigue are two things that can factor in to a pharmacist’s potential mistakes. However, a robot can feel neither fatigue or emotion. For this reason, robots cut down on the number of pharmacy errors. Another benefit of the robots includes that while the robot is preparing the drug, the pharmacist can spend more time with the patient if needed (Burke & Weill, 2009).
- Medical discoveries have improved the medical field. Because of medications treating illnesses, surgeries are not usually needed. Medicines are now extending life and taking away physical and mental pains that may come with it (Williams & Torrens, 2008).
- The US has much success with the pharmacy industry because of the government funding for medical research (United States Department of Commerce, n. d.). Because of the funding this research receives, there are more discoveries in medicine each day. The FDA also improves the success of the pharmaceutical industry by being sure that each medicine that is sold is effective and safe.
- According to Christopher Bowe, a healthcare analyst, a main problem for the leaders in the pharmaceutical field is finding a business model for pharmaceutical industries. Dr. Bowe states that with the change of the business models also comes the change of the people who work in the industry. He says that the people within the industry must work together and become more efficient (Primary Challenges in the Pharmaceutical Industry, 2011).
- The pharmaceutical industry does have it’s challenges. However, there is research being conducted constantly to further advance the field of pharmacy. Technology is a great example of what is being improved. Robots are being invented to help reduce human errors. Also, there are medical devices being developed to help the patient, such chips that are implanted inside patients that automatically diffuses medicine when it detects the patient needs it (Burke & Weill, 2009).