U.S. Pharmaceutical Gray Markets: Why Do They Persist—and What to Do about Them?

Business and Society Review 121 (4):529-547 (2016)
  Copy   BIBTEX

Abstract

This article illustrates how a traditional U.S. pharmaceutical industry supply chain operates, beginning with pharmaceutical compounds and ending at patient‐dispensing hospitals or pharmacies. Furthermore, to place the problem of U.S. drug shortages in historical perspective, a review of the annual volume of such shortages over the last decade is undertaken. Following this review of recent drug shortages is an analysis of the market forces and business decisions that drive the creation of a pharmaceutical gray market, its attendant “price gouging” and product integrity issues, and the alterations in the traditional pharmaceutical industry supply chain model. In response to persistent drug shortages, the U.S. Food and Drug Administration (FDA) has recently been empowered by the executive and legislative branches of the U.S. government to actively address this issue. To reflect these FDA challenges, a thorough review of these new agency charges and responsibilities is undertaken. Lastly, an analysis of the results of recent FDA public policy actions on mitigating drug shortages, as well as recommendations tor market‐based solutions to the gray market problem that pharmaceutical manufacturers, hospitals and pharmacies could institute as industry‐wide standards of business practice, are discussed in the conclusion.

Other Versions

No versions found

Links

PhilArchive



    Upload a copy of this work     Papers currently archived: 98,205

External links

Setup an account with your affiliations in order to access resources via your University's proxy server

Through your library

Similar books and articles

Drugs, Money, and Power: The Canadian Drug Shortage.Chris Kaposy - 2014 - Journal of Bioethical Inquiry 11 (1):85-89.
Institutional Corruption and the Pharmaceutical Policy.Marc A. Rodwin - 2013 - Journal of Law, Medicine and Ethics 41 (3):544-552.

Analytics

Added to PP
2017-03-26

Downloads
19 (#945,908)

6 months
8 (#471,483)

Historical graph of downloads
How can I increase my downloads?

Citations of this work

No citations found.

Add more citations

References found in this work

No references found.

Add more references