MedConnect

The phrase “Big Pharma” has been circling around a lot ever since the COVID-19 pandemic hit. Some of you might be wondering, “What is Big Pharma?” or “Why is it so important?” The term—short for the “big pharmaceutical” industry—jointly refers to the large, multinational companies and corporations that control the majority of medicine production. Recently, Big Pharma has faced criticisms regarding medication pricing and how it handled public health emergencies such as the COVID-19 pandemic. Future surgeons will be in charge of writing prescriptions and giving patients their medication.  Understanding the structure of Big Pharma may help surgeons in making informed decisions regarding medications, particularly when it comes to the possible effects of drug availability. It is a duty of surgeons to put the health of their patients first. Future surgeons could improve patient care and ethical standards by becoming aware of Big Pharma’s business and being on the lookout for anything that could go against their code of conduct. Upcoming surgeons have the opportunity to promote laws that can better medication affordability, expand the supply of generic medication, and enhance the transparency of pharmaceutical companies.

Why is this important to future surgeons, who will take care of people’s health? And what can future surgeons do about this, both now and in the future? Also, how can they raise awareness, or what kinds of policies should they be supporting?

While Big Pharma has certainly contributed significantly to medical and healthcare developments throughout history, it also has been involved in disputes over medication availability. Many pharmaceutical companies have faced accusations that their profits come before everyone’s health—how ironic, since they get paid to uphold health in the first place. Many claims are rooted in the significant rise of medicine prices over time, one noteworthy aspect of Big Pharma’s business strategies. These increases in cost frequently happen without the medications themselves having any notable advancements or improvements. In America, many have outpaced inflation recently. Even adjusting for natural fluctuations in the value of the dollar, Big Pharma makes more money today off the purchase of a life-saving drug than it has in the past. But for every transaction, there are two sides. Pharmaceutical companies reap the profits, but someone must pay. Who? Patients. This may be affordable to those whose wages increase at similar rates to drug prices, but this isn’t the case in many instances. As a result of this trend, the strain on patients and the healthcare systems throughout the world has risen.

The COVID-19 pandemic raised more awareness of the pharmaceutical industry’s ways. While some companies were praised for their efforts to provide cures and vaccinations, others came under fire for their distribution and pricing strategies. For example, issues have been brought up about the accessibility and cost of COVID-19 vaccinations, particularly in low and middle income countries. It has been suggested that certain pharmaceutical companies prioritize their profits by driving up the cost of vaccinations, which could potentially limit the worldwide use of them. Citizens of some countries may simply not be able to afford them. But, at least to Big Pharma, the astronomic profits made from their high prices may have been enough to offset this humanitarian crisis. According to The Centre for Research on Multinational Corporations, “Pfizer, BioNTech, Moderna, and Sinovac made an extraordinary [$]90 billion in profits on their COVID-19 vaccines and medicines in 2021 and 2022” (Haan). Due to the severe lack of COVID-19 vaccinations in the face of such a threatening virus, a huge amount of demand existed for Big Pharma to develop them. If you know anything about economics, then you’ll know this gave pharmaceutical companies the power to set the price high because demand for the vaccines was significantly higher than supply. This wasn’t felt directly by the people in many situations. COVID-19 was so widespread that, to ensure that their people had access to vaccinations, governments and international organizations were the ones prepared to pay high costs. This doesn’t look too good for the populations of the world that lack a government or organization willing to pay the high prices for them. Nonetheless, the move had already increased the earnings of the pharmaceutical companies, and those people may have just been neglected over profit.

Proposals have been made in response to these complaints for greater drug pricing transparency and changes to patent laws to promote competition and drive down costs, and, not to mention, to ensure equal access to necessary medications, such as vaccinations. Without them, the risk of deadly illness can skyrocket. These medications can be as integral as food. Just like people shouldn’t be kept from eating because they can’t afford bread or vegetables, they shouldn’t fall victim to avoidable conditions because of high prices. Unfortunately, although the pharmaceutical industry is vital to the development of life-saving drugs and therapies, the public’s health and well-being are still subject to the prices they set. As future healers, we must fight to resolve these pressing issues with medicine access and cost. 

References

1. Bosworth, Arielle, et al. “Changes in the List Prices of Prescription Drugs, 2017-2023.” Office of the Assistant Secretary for Planning and Evaluation, 6 October 2023, https://aspe.hhs.gov/reports/changes-list-prices-prescription-drugs#:~:text=Over%20the%20period%20from%20January,than%20the%20rate%20of%20inflation.
2. Camiel. “Big Pharma Raked in USD 90 Billion in Profits with Covid-19 Vaccines.” SOMO, 13 Dec. 2023, http://www.somo.nl/big-pharma-raked-in-usd-90-billion-in-profits-with-covid-19-vaccines/. 
3. Kodjak, Alison. “Prescription Drug Costs Driven by Manufacturer Price Hikes, Not Innovation.” NPR, NPR, 7 Jan. 2019, http://www.npr.org/sections/health-shots/2019/01/07/682986630/prescription-drug-costs-driven-by-manufacturer-price-hikes-not-innovation. 
4. “Pfizer, BioNTech and Moderna Making $1,000 Profit Every Second While World’s Poorest Countries Remain Largely Unvaccinated.” Oxfam International, 25 May 2022, http://www.oxfam.org/en/press-releases/pfizer-biontech-and-moderna-making-1000-profit-every-second-while-worlds-poorest.