If asked to name one thing that affects our life in most phases one would hardly say pharmaceuticals. But wait this is a fact that most of us since our birth depend on pharmaceuticals in one-way or other. Definitely by age our dependence on pharmacy products increases but even teenagers and young ones consume a big percentage of pharmaceutical derivatives. Pharmaceuticals play a vital role in our day-to-day living. And hence their rising costs are destined to be our major concern. The ever growing prices of pharmaceutical products severely pinches one’s pocket, cause this is one area where there is no choice of take or leave.
If a person is suffering from certain disease and the doctor prescribes him any medicines he must purchase it whether it suits his pocket or not. One is left with no choice but to pay the chemist. Hence there is a great need to regulate the prices of drugs, at least to watch that its price is not much above the cost incurred plus a marginal profit for the manufacturing company. As of now many market leaders are found to price their monopoly drugs at a very high rate. Even medicines or regular use are very costly.
Drugs sold by prescription being much more expensive than those sold over the counter by the chemist. Hence, a person is often tempted to go for over the counter choice. Big pharmaceutical players in the market also pay much attention to research and development of new medications possible. A big amount of money is invested in the R & D branch of the industry. Based on the market requirements and demands companies try hard to invent a suitable drug to cure any ailment. Millions are spend in this type of research. And once any company hopes to have created any new medicine it has to pass through many different stages to get the approval of the drug controlling authority, FDA. FDA governs the stages of research, development and manufacture that have been undergone for any new drug before being exposed to consumers. Only after it has approved and given its quality assurance any drug shall be sold to public. Even before any drug is presented to FDA it undergoes intensive testing which is carried on animals and even humans.
These tests confirm about the effectiveness of the medicine and makes sure that the invented drug does not have any serious side effects. Animals that are used to carry these tests often raise a controversy among the environmentalists. They strongly object about animals being tortured for the benefit of mankind. While the companies defend by saying that it is important to save mankind and those animals can easily reproduce. Whatever be the case this controversy goes on forever without a suitable solution. All this research work is necessary so that the ultimate consumer gets nothing but the best. With the high growth rate in the pharmaceutical industry all the companies employed in this sector are facing though competition. There is a constant endeavor to attract the consumers by direct marketing and efficient advertising plans targeted towards customers. We all need to be aware of what types of drugs are available in the market and take our judgment meticulously and not get carried away by advertisements.
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Biotechnology, Nanotechnology and Medical Electronics