Pharmaceutical Company known as Pfizer. Pfizer ranks # 40 on the 2012 fortune 500 list. Thus far, Pfizer’s total revenues in 2012 were approximately $ 67,932.0 million dollars. I truly believe that this particular company is in an extremely interesting point of focus due to the very nature of its existence, which is to research and develop drugs that would cure disease, and prolong life. I was also curious to explore the effects of “Affordable Health Care,” on this very industry…with
“Obamacare’s” immediate and impending prologue to our very near and inescapable future. There are a number of issues that influence and impact growth and development of this pharmaceutical company. Just as many other businesses have been impacted by the deteriorating global economy, there are numerous issues that directly effect, and continue to threaten Pfizer and the patients, that rely on their products, on a daily basis. Due to the staggering rates of unemployment, and steep increases in co-payments, patients are willing to “cut-corners” in all aspects of their lives including health care and preventative treatment. These patients will now turn to generic brands of medication, which may or may not be as effective in treating their medical conditions. Another means of conserving their finances would be skipping doses of necessary medications, delaying trips to their physicians, and turning to much less effective forms of treatment in order to reduce costs. Another factor that directly effects Pfizer is the alarming number of the general population that has been forced to turn to
Medicaid for medical aid and assistance.
In order to cut costs for the government, Medicaide programs limit its patients access to
“Brand Name” prescriptions. This practice is known as “Academic Detailing” and is, in essence, a conflict of interest. You see, in the practice of “Academic Detailing,” The government insists and may even go as far as guaranteeing a patients right to quality health care and pharmaceutical products, however, the conflict lies in the Government’s demanding of the absolute cheapest, or lowest possible cost. By implementing President Obama’s “Affordable Health Care Act,” it seems that all major pharmaceutical companies would benefit favorably. It has been estimated, over the duration of a ten year period, Pfizer alone would reap an increase of profits in the amounts of 10 to 35 million dollars. So what exactly does Pfizer do? Through research and development, they facilitate a demand to the general population. All phases of human life, from infancy to adults, not excluding the retirement- aged population does in fact benefit from their products. An interesting factor in
“supply and demand,” and how it factors into Pfizer’s