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This white paper by Pharmaceutical Research and Management Association identifies major claims in the pharmaceutical industry and provides accurate information and dispels errors and omissions. Drugs are the fastest growing part of the health care bill. One of the biggest drains on state budgets is Medicaid, and the fastest growing component of that is prescription drug spending. PhRMA member companies have also provided medicare beneficiaries lacking prescription drug coverage with free enrolment in company sponsored discount card programs. This white paper also suggests that prescription drug prices are rapidly increasing. Pharmaceutical companies have relatively small budgets for their research & development but they incur vast expenditure on marketing and administration. This white paper also provides evidence of the profitability of the pharmaceutical industry. DTC advertisements mislead consumers far more than they inform them and they pressurize doctors to prescribe new, expensive and marginally helpful drugs. This white paper also outlines about the Medicare Modernization Act of 2003. Finally, this white paper describes that the research based pharmaceutical industry is the most innovative industry in the world, producing new drug therapies that improve quality of life through declines in hospitalizations, increases in life expectancies, and decreases in the overall health care spending.
| Published: | 2006 |
| Format: | |
| Length: | 28 pages |
| Type: | White paper |
| Language: | English |
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