We have analyzed the economic policies and factors that impact insurance companies, providers, and the hospital industry.
In this discussion, we will examine the economics of the pharmaceutical industry. Marketing accounts for a much larger portion of the expenses in the pharmaceutical industry than in other healthcare industries. The FDA lifted restrictions on TV ads for prescription drugs in 1997, allowing manufacturers to advertise drugs without including lengthy disclaimers explaining the often numerous side effects. How has this regulatory change affected the market for pharmaceuticals? Why do you think so much more money is spent on marketing drugs than on marketing surgery or psychotherapy?
In responding to at least two of your classmates’ posts, agree or disagree with their assessment of the impact of the impact of advertising legislation on market behavior for the pharmaceutical industry. What is the role of pharmaceutical marketing within distribution control?
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