The pharmaceutical industry has produced many drugs that have benefited man. Political frameworks designed to govern the industry must maintain these benefits, however, regulation needs to be adequately strong enough to protect public health from drugs that are unsafe, ineffective, or unnecessary. The extent of industry over drug regulation, at the expense of other interested parties, suggests that the current system could be tougher. In addition, every president and presidential candidate develops new prescription plans to help earn themselves votes from the public. Through the years after election, many of these plans drastically change, and often presidents find it is hard to ple ...view middle of the document...
(Zwillich) While the generics industry has grown rapidly since 1984, its share of us prescriptions has remained around forty percent for several years. Generics firms blame this market share stagnation on innovator tactics to delay generic entry into the marketplace. Brand-name companies counter that they are following sound business practices in protecting their patents rights, and that strong intellectual property protection is critical. (Wechsler)Currently, drug makers and consumer groups are reacting to the news that the federal trade regulator are urging Congress to pass a law that could tilt the prescription drug market away from brand-name pharmaceuticals toward lower cost generics. The recommendations that were issued by the Federal Trade Commission, or the FTC, are the latest in the ongoing debate over rising prescription drug prices and the continued bickering over how to add a prescription drug benefit to the federal Medicare program. They also represent a setback for brand-name drug makers, who are fighting to keep lawmakers from changing existing drug patent laws in a way that could make it easier for generic competitors to increase their market share. (Zwillich)The FDA is establishing guidelines as well now regarding traditional Chinese medicines that will ensure public safety yet will not require herbals to be removed from the market. Botanical drug product regulation, approval applications, and over the counter regulations are discussed as well as corporate strategies to apply technology and modern science to the traditional Chinese medicines. This is just another example of how the government is currently involving themselves in the world of pharmaceuticals. (Yuan) Also, there are new pharmaceutical developments occurring that involve state regulations. Vermont Governor, Howard Dean, signed a legislations requiring pharmaceutical companies to report all gifts valued at or above twenty five dollars, except drug samples, given to physicians by company representatives. The state expects to post the gift on the internet each year. The hope is that the public disclosure will discourage physicians from accepting the gifts. (Medical Benefits) The reason why the Vermont government is doing this is simple. Gift from drug reps are seen by many health care advocates as having too much influence over doctors' prescribing decisions; they believe the gifts encourage doctors to prescribe newer, more-expensive drugs, which drives up health care costs. (Abraham)In general, the pharmaceutical is the main manufacturer of drugs with an estimated annual worldwide budget for drug development of six billion dollars. Pharmaceutical companies want the safety and efficacy standards of regulators to be high enough to avoid frequent drug disasters, but not so high that they threaten their commercial viability. (Abraham)Bush is trying to reach a medium between the companies and consumers because of this. Bush first unveiled his plans in 2000. It was a...
