Industry Profile
This year’s Pharmaceutical Industry Profile spotlights the significant value the biopharmaceutical research sector and its products represent for Americans and the American economy. Learn more about the unprecedented potential of today’s science as well as the challenges facing pharmaceutical research companies in 2010.
Annual Report
Issues: Helpful Links
Issues
There is much to be proud of about the contributions of the pharmaceutical industry. The world's medicine chest is filled to an extent that was unthinkable just a few decades ago. Millions live longer and better as a result of the inspired and dedicated work of our scientists. Vaccines are creating one of the greatest public health success stories in human history. New medicines for cancer and HIV/AIDS provide hope and help to many who never had hope and help before. And we can expect this progress to continue because our laboratories are involved in cutting edge research based on new and exciting information on the fundamental mechanisms of disease and health.
However, as companies and as an industry, we will not succeed if we don't start closing our trust deficit. And we won't accomplish this simply with more effective education efforts or better communications. While those are necessary, they are simply not sufficient in today's environment.
We must rebuild the foundation of trust that we once had and the foundation of trust that we continue to deserve.
And, as we build that foundation of trust, we can do so without compromising our core values. Among them:
- Belief in the power of markets to best determine the value of our medicines
- Support for strong intellectual property protection as a necessary prerequisite for innovation
- Trust in a rigorous, scientifically-based regulatory process to evaluate the safety and effectiveness of our medicines
- Confidence that we have a right – and responsibility – to provide balanced information to prescribers and patients about our medicines
- And commitment to access and serving the needs of society
We know that these values are not only in our best interest – they are in the best interest of the patients that we serve.
Direct to Consumer Advertising
PhRMA member companies understand that accurate information about disease and treatment options makes patients and doctors better partners. And getting that information to doctors and patients is...
FDA Issues
The Food and Drug Administration (FDA) has been a cornerstone in the country’s fight to improve the health of all Americans. Due to the vital nature of the FDA’s public health...
Importation
It is unfortunate that some members of Congress are pushing unsafe prescription drug importation schemes at a time when tens of millions of Americans are gaining access to affordable health care...
Intellectual Property
Pharmaceutical companies rely on government-granted patents to protect their huge investments in researching and developing new drugs. It takes 10-15 years and costs $800 million on average to...
Medicare
In just the fifth year of the Medicare prescription drug program, 90 percent of all beneficiaries now have comprehensive prescription drug coverage. Through Medicare Part D, about 14 million...
Prescription Drug Costs
Prescription Medicines: Focusing on Savings, Not Costs
Prescription medicines represent the best value in our health care system. When used as prescribed, medicines save lives,...
Research and Development
Everyone with questions about the flu or avian flu should be able to get the answers they need easily and quickly. America's research-based pharmaceutical companies are working...
Value of Medicines
The value of new and better medicines stems not only from the improved treatment of disease, but also from a reduction in other health care costs, increased productivity and better quality of life...
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