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Drug Shortage in Pharmaceutical Industry - Term Paper Example

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Running Head: DRUG SHORTAGE IN PHARMACEUTICAL INDUSTRY Customer Inserts His/Her Name Customer Inserts Grade Course Customer Inserts Date: Table of Contents Drug Shortage In the developed and advanced world of the present century, the pharmaceutical industry has grown just like the other manufacturing and service industry…
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Drug Shortage in Pharmaceutical Industry
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Download file to see previous pages This paper will discuss upon one of the major challenges, .i.e. Drug Shortage that the pharmaceutical industry is encountering these days. The issue will be illustrated with the help of evidences, tables, and graphs. Introduction to Pharmaceutical Industry One of the major sectors of development in any country’s economy is its pharmaceutical industry upon which the healthcare of the region is based. The concept of a pharmaceutical industry refers to the development, production, and marketing of the drugs which are licensed for the utilization as medicines (John, Horst, Gerd, 2007). The companies in this industry deal with the brand medication, generic medicines and in the medical services. However, they are required to comply by various laws and adhere to regulations concerning with the testing, patenting, and guaranteeing the efficacy and safety of the dug marketing. The industry researches, discovers and develops the drugs which are utilized by the humanity for the purpose of curing certain diseases and illnesses. Drug Shortage The prolonged shortage of the growing number of drugs is largely impacting the patients and the healthcare sector in United States and all across the world. ...
Even doctors are struggling to get their hands on the important parenterals for the patients needing infusions and for premature babies. To add to this, there are over dozens of clinical trials which have been stopped due to the shortage of sufficient supplies of cancer drugs that are used as controls or major segments of treatment arms (Jill, 2011). According to the records of FDA, the drug shortages in the United States have raised from the 157 shortages in 2009 to 178 drug shortages in the year 2010. The University of Utah Drug Information Service is observed to have identified 210 drug shortages until September 2010 and is looking for some 260 dynamic shortages around the nation. FDA reported last year that three-fourths of the shortages included sterile injectables and most of them were needed for the drugs which are ‘medically necessary’ (Ali, 2011). The chart given below depicts the recently reported drug shortages in the United States: Figure 1: Newly reported drug shortages The chart exhibited above indicates that the shortage of drugs has been occurring on an inclining trend since last few years. Beginning from the year 2005, the drug shortage was only 74, which rose to 129 shortages in 2007, 166 in 2009, and 211 in 2010 (Howard, 2011). We can easily anticipate and assume that the condition may worsen in next few years if the solutions are not adopted and shortage of drugs remain in the similar condition as now. Drugs in Short Supply According to an ASHP list, the drugs which are short in quantity include the sterile injectable, which constitute of inexpensive and widely used chemotherapeutic agents. Adding to this, the list includes an increasing quantity of the antibiotics, anesthetics, sedatives, ...Download file to see next pagesRead More
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