Complementary Medicines A Perplexing Pharmaceutical Product

1539 words - 6 pages

There is no place for the supply of vitamins or complimentary medicines in pharmacy.

Most complementary medicines lack clinical trials that conclusively prove their efficacy. For pharmacists, considered as drug therapy experts within the community, their supply from a pharmacy presents a serious ethical dilemma, as it is would be unwise to recommend an unproven treatment. It has been reported that this is further compounded by a lack of clear information on the status of the body of evidence for the support of specific complementary medicines. However, there is evidence to suggest that not only can complementary medicines work, but also that the use of complementary medicines is on the increase. This essay aims to review some of the reasons for the use of consumer demand for complementary medicine. Once this has been established, the ethics of the supply of complementary medicines will be examined in detail, concluding with a remark regarding the appropriateness of their supply by a pharmacist within a pharmacy. Within this essay, the term ‘complementary’ medicines will be intended to include “herbal medicines, traditional medicines, vitamins and minerals, nutritional supplements, homeopathic medicines and aromatherapy products” as defined by the Therapeutic Goods Administration (REF:TGA).

Complementary medicine use has become wide spread, and by all accounts, consumer demand is increasing further. A 2004 representative population survey conducted within Australia revealed that 52% of Australians had used a complementary medicine within the last twelve months (REF:6). (REF:2) reports that consumers reasons for accessing complementary medicines are several and varied, and includes those without ready access to conventional therapies, those dissatisfied with conventional care, those whom conventional medical care has no cure, those who can not afford the expense of conventional care, and those with a desire to control their own care. By all accounts the use of complementary medicine is increasing in use (REF:3, REF:7). It can be concluded that consumer interest in complementary medicines is a growing trend.

Complementary medicine may be viewed by consumers as a natural therapy, or as regulated by the government, and therefore safe to use. Several complementary medicines, such as herbs and traditional medicine, have been used medicinally for thousands of years. (REF:3) suggests that consumers are drawn to herbs because they are naturally occurring and therefore considered safe. However as herbs are infrequently consumed in their natural state this is not necessarily the case. If we consider, as an example, that in the United States patent medications have been tested and found to contain undeclared pharmaceutical actives and heavy metal contamination (REF:3, REF:5), it is easy to consider that there is a similar risk of contamination that may be found in complementary medicines. The chance of similar contamination being...

Find Another Essay On Complementary Medicines - A Perplexing Pharmaceutical Product

Marketing in the Pharmaceutical Industry Essay

2035 words - 8 pages . Finally culture affects all multinational companies, so I will discuss how it exclusively affects the marketing strategies and campaigns of these global pharmaceutical giants. Evolution of marketing The marketing of prescription drugs has always been a controversial topic due to the sensitive nature of the product; hence heavy legislation hugely affects the promotion of a drug. The major players of the industry are huge multinationals, so must be

The War on Pharmaceutical Companies Essay

1186 words - 5 pages though. Although a great deal of money is brought in to pharmaceutical companies, a lot of money is needed to produce their product. (…too much influence) So the price craze may be needed to pay off expenses to make successful medicine. Yet Americans are not completely convinced of why the drugs are so expensive. But that does not mean they break out even with their earnings. They still pocket way more than is necessary.    &nbsp

Cordination and Incentive Problem

675 words - 3 pages objectives of the associates with the interest of their shareholders and also to create sustainable value for the firm thereby eliminating some incentive problems as well.In the case of Routine, Novartis make use of the Global Reporting Initiative to make transparent reporting to all subunits. Close collaboration with partners who share a common vision and complementary strength are also a generally accepted way of doing things at Novartis which yield

Eli lily and Ranbaxy Case

2889 words - 12 pages strong competitors, Strict government regulations, long approval time.The majority of the global pharmaceutical sales come from three main markets: North America, Europe, and Japan. The USA is the leader in the pharmaceutical industry in terms of sales but also in terms of investment. New chemicals, and biological discoveries made everyday, a number of new medicines are first marketed in Europe, France, Germany, Switzerland, and Italy. (Bantlett

The Global Pharmaceutical Market Forecast

2415 words - 10 pages MARKET OVERVIEW The global pharmaceutical market is a multibillion-dollar industry. The 10 largest drug companies control over one-third of the market, several with sales of more than $10B a year and profit margins of 30%. Six of these companies are based in the U.S. and four are in Europe. It is predicted that North and South America, Europe, and Japan will continue to dominate by accounting for 85% of the world’s pharmaceutical market

“The competitive position of a company is determined by the industry structure in which it competes.” Critically evaluate this statement.

4509 words - 18 pages the opposite strategic group (Thompson, & Strickland, 2003).Among the different strategic groups price competition takes place for drugs that belong to the same category such as antidepressants. For instance, in the generic pharmaceutical industry a lower price is more alluring for the consumers in comparison to a prototype brand product that is more expensive (Leask & Parker, 2006).In order to examine the evolution of a product in the

An Analysis of the Pharmaceutical Industry using Porter's Five Force model, PEST, BCG Matrix and predicting future prospects.

3089 words - 12 pages ? Product differentiation is the key here.Overall, threat of rivalry is high. The pharmaceutical industry is highly competitive. Companies are racing to launch new products before other companies release similar ones. In order for a company to recoup their R&D expenses they must patent their products to ensure cash flow. Also, generic companies are competitors. Generic companies do not bear R&D costs and, consequently, they can offer the


2176 words - 9 pages for pharmaceutical companies to maximize return on investment and market share. For Angiomax, it is even a bigger task because it has to gain market share from Heparin whose price per dose is only $2 while cost of Angiomax per dose is $40.To pricing Angiomax, we could have calculated a price which can cover $30 million upfront costs and continue development the Medicines Company committed, $3 million on marketing and entertaining, variable cost

Complmentary and Alternative Medicine

739 words - 3 pages defining CAM is problematic because some CAM is tested, and research suggests that many mainstream medical techniques lack solid evidence.[11] There is no clear and consistent definition as to the exact nature of alternative or complementary medicines.[15]:17 In a 2005 report entitled Complementary and Alternative Medicine in the United States[15] the Institute of Medicine (IOM) adopted this definition: "Complementary and Alternative Medicine

Pfizer: An Economic Report

4487 words - 18 pages being made to develop each product in an economically efficient way. Equally important is realizing when a product does not show enough promise through either safety, efficacy or profitability and to terminate further development. We also take a look at Pfizer's financial report. Through the jobs created to the products it sells, as a large pharmaceutical company, Pfizer has a significant effect on the economy. It is important to understand its

Preventing Crosscontamination in Pharmaceutical Production

1951 words - 8 pages unintentionally transferred from one substance or object to medicines with harmful effects that might affect the purity and quality of the pharmaceutical products.”[1] Cross contamination can occur either by introduction of micro-organisms to the product or by other pharmaceutical products in the mixed plant manufacturing. Studies showed that main contamination within pharmaceutical production occurs by people, air, equipment, water and or raw

Similar Essays

Complementary Medicines The Case Against Their Supply In Pharmacy

1760 words - 7 pages States patent medications, imported from Asia, were tested and found to contain undeclared active pharmaceutical ingredients and heavy metal contamination (Bent, 2008, p. 856; Pray, 2006, p. 5), it can be considered that there is a similar risk of contamination may be present in complementary medicines. In Australia, the risk of similar contamination of complementary medicines is significantly reduced. This is because the Therapeutic Goods

Future Of "Big Pharma" Essay

2421 words - 10 pages an increases in chronic diseases thus increase demand for pharmaceutical products4. Government funding agencies advocating greater use of medicines in place more expensive hospitalization and surgery.5. Insurances companies in repayment of individual drug expenditures.Recommendations:There is no doubt today's generic industry is worth a whopping $40 billion and this growth is expected to continue, with $80 billion worth of blockbuster drugs set to

The Medicines Company Case Analysis

2128 words - 9 pages gain more profits so there may be compounds that are discarded because they hold smaller revenue potential. However, a business plan that focuses on "rescuing" these and other abandoned drugs holds many of the same risks and potentially more than Big Pharmaceutical companies face. The Medicines Company lacks a thorough business plan that addresses these issues and their own unique challenges which include:1. Higher risk of product failure when

Harvard Business School Case: Smithkline Beecham. Corporate Strategy. Scope, Scale,5 Forces, Swot, Direction, Long Term, Competitive Advantages, Stakeholders.

3045 words - 12 pages 1.DirectionThe first key concept of strategy is the direction the company wants to follow. The direction of SmithKline Beecham clearly adjusts in order to cope with the increasing competition in the pharmaceutical industry.In 1989, SmithKline Beecham was formed out of a merger of SmithKline Beckman and the Beecham Group. Five years later, the Annual Report Chief Executive Leschly wrote: "Through a series of strategic acquisitions and disposals