HLTHAGE 1AA3 Lecture Notes - Lecture 14: Glaxosmithkline, Pharmaceutical Drug, Celecoxib
Document Summary
Until 2000 big pharma does not pay attention to sub-sahara africa and the hiv issue there. Their excuse: africa did not have the infrastructure via which the pharmaceutical companies could work. Aids conference in south africa notes big pharma"s intransigence. Big pharma speaks to patent protection and intellectual property rights. Glaxo wellcome first to blink and reduces its price of aids drug for south africa from. . 50 to . 00 (800% mark up if sold at cost) Drug companies have surpassed all other 500 fortune companies in profit rates (rated first or second in the list of most profitable for more than thirty of the last forty years. Big pharma always keeps science r&d separate from marketing. Doctors evaluated commercial aspects of r&d and regulatory reporting requirements. If a drug cures the incurable but does not sell: great science but lousy business. If a drug sells but does not cure much of anything: still good business.