What Are the Benefits of Pharmaceutical Companies?

The pharmaceutical industry is one of the most profitable industries in the world. It is successful as people throughout the globe demand drugs for health care. Pharmaceutical companies invest billions of dollars for the marketing their products. They manufacture basic health products, instruments that are used in hospitals and other related products. The pharmaceutical industry involves heavy investment in fixed assets and needs substantial commitment to research. The industry has grown at an above average rate historically and is expected to perform well going forward.

Pharmaceutical Innovations

• Due to pharmaceutical innovations many medical conditions are treated using drugs, instead of complicated surgeries. For example back pain is now treated with drugs instead of surgery. Scientists are treating heart by-pass without surgery using protocol of drugs for four to eight weeks. These innovations are giving patient’s new hope for a better and healthier lifestyle. Drugs are approved after years of testing and clinical trials.

Better Vaccines

• Pharmaceutical companies are manufacturing vaccines to prevent individuals from catching diseases and to strengthen their immune systems. They activate and enhance the efficiency of the human immune system to help prevent infections. These preventive measures are low-priced, constantly effective and easy to store. These vaccines can be carried and transported from one place to another with ease.

Cheaper Health Care

• Due to the production of better medicine, competitive pressures and government regulations, the cost of health care services can be controlled and reduced. The increased availability of generic drugs helps contribute to cheaper health care for patients.

Research and Development

• Pharmaceutical companies make drugs using proteins, enzymes and complex compounds to treat different diseases. Research and development by the pharmaceutical companies facilitates the discovery of treatments for more advanced medicines. According to PHRMA, only one out of 10,000 medicines investigated by American research-based pharmaceutical companies makes it through the research and development pipeline and is approved for patient use by the United States Food and Drug Administration.

Better Communication

• Pharmaceutical companies are becoming more sophisticated in communicating with consumers through media and the Internet. Message boards, chat rooms and websites are becoming important way tools for informing patients about new drugs, medicine and treatments more efficiently. They are educating unaware individuals about proper and timely use of drugs.

Free Medicine for Poor Countries

• The medicines produced by pharmaceutical companies are a definite advantage for Third World countries. Medicines are often donated to developing countries a few months before they expire. The Seattle Times states that two billion people in the world still lack access to essential medicines. European as well as American companies are making medicines available to the developing countries at lower prices.

Increase in Age Expectancy and Fewer Infant Deaths

• Drugs are an important component of health care system. Better drugs increase life expectancy and lower infant mortality enormously. The inability and unavailability to approach these drugs hurts the developing countries. According to NOVA, the life expectancy in the developing world remains much lower compared to the developed world.