Large Drug Companies

Good For Business, Bad for Patients? (ABCnews.com, January 30, 2009)

Summary: Wyeth Pharmaceuticals is being bought out by Pfizer, a larger company. The buyout is giving hope to more research and lower prices.The article shows the pros and cons of the buyout. While maximizing profit for the shareholders, the question of whom is really being helped is being raised.

Topic: Should the government arrange for hospitals to network to help standardize the cost of health care?

Category: Journalistic

Title: Good for Business, Bad for Patients?

Publication Information: John Abramson, M.D. January 30, 2009

Location: abcnews.go.com/Business/Health

Accessed: January 30, 2009

Support: Dr. Catherine D. DeAngelis, editor in chief at Journal of American Medical Assosication; Pharmaceutical and Manufactures of America’s research; Department of Justice; FDA

Source Analysis: ABC news, owned by Disney Corp. and broadcasts in almost every media. One of the three largest mainstream news companies in the United States, was split from NBC in the 1950s.

Usefulness:This article shows the pros and cons of large drug companies combining. The buyout of Wyeth Pharmaceuticals raises the question of who is wining in this situation, and who might be going down the drain? With the concern of health care cost always on the public’s mind, the thought of a buyout is a bit concerning for some. What seems like a good idea on paper, may not work in the long run. Coming with the large buyout many hospitals will be limited to only one company, Pfizer, to provide them with the pharmaceuticals that they need. With this contract between the doctor and drug, the price of the prescription is going to rise. These restrictions do come with the benefit of more money for research; yet if will this money actually be put to research for lower cost is still in questioning.

Works Cited: Wikipedia, Google, http://www.usdoj.gov/ , Changing the Face of Medicine

Advertisement