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Writ340-BusinessAnalysis - To From Subject Date Counterfeit...

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To: From: Subject: Counterfeit Drug Sales: An Alarming Trend for the FDA Date: April 30, 2006 The purpose of this memo is to explain the possible ramifications within the health industry that concern our company, the U.S. Food and Drug Administration. There are many issues that are taking place within the health industry which need our immediate attention. One important issue is the rapid growth of counterfeit drugs that are being imported into the U.S. This issue may have an affect on our company financially and economically. For these reasons, I am writing you this memo so you can take this problem into consideration and provide me with any feasible solutions that we can work on immediately. Health Industry Background The Food and Drug Administration is a huge part of the health industry. However, the health industry has been slowing down its overall growth pattern in the past two years. According to the article “Healthcare Economics” published in Aging and Elder Health Week , healthcare spending in 2004 has been gradually decreasing to 7.9% compared with 9.1% in 2002 (2006). According to the same article, factors contributing to this overall decline in spending were: The use of cheaper priced generic drugs that cut costs for consumers Increased usage of over-the-counter medication The reduced intake of some drugs because of their questionable health hazards In other health related news, the FDA has been held responsible for the approval of recent drugs that have caused increased health defects to patients. R. Armstrong (2006) states that a widely used heart-surgery medication, Trasylol has been found to increase the chance of kidney failure, heart attacks, and strokes (“Serious Risks”). Bayer, the founding pharmaceutical company of the drug, explained that Trasylol was their fastest growing drug with sales reaching $200 million, and about 150,000 patients received the drug last year in the U.S. (“Serious Risks”). This article suggests that the FDA needs to rethink their safety testing strategies, and come up with more effective ways to eliminate potential health threats.
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