Chapter 1 - So You Want A Career in Pharmaceutical Sales Flashcards
Pharmaceuticals are arguably the most socially important healthcare products. True or False?
True.
What have pharmaceuticals been used extensively to promote since the late 20th century?
“Wellness” disease prevention (e.g. vaccines) and as early interventions for people at high risk for certain conditions.
What two things have become more prominent goals for patients, healthcare providers, and the pharmaceutical companies in recent years?
Quality of life and lifestyle enhancement.
Pharmaceutical development is a high-risk undertaking, in which many promising leads prove disappointing. True or False?
True.
Blockbuster level drugs typically produce how much in annual sales?
Over $1 billion.
How much does the global pharmaceutical industry generate in annual revenue and how many people do they employ?
$950 billion and 1.7 million people.
Which three countries produce the largest portion of the world’s pharmaceutical revenue?
The U.S., Western Europe, and Japan.
Which two factors have contributed significantly to recent growth in the pharmaceutical industry?
Population growth and increased life expectancies.
How much longer can a person expect to live today compared to the late 1800s?
Over 30 years longer.
Senior citizens consume ____ _____ times as many medications as people under the age of 65.
over 3
Pharmaceutical companies joining genomic companies to establish genomic research facilities will prove profitable in the near term. True or false?
False.
Pharmacy Benefit Managers (PBMs) act as intermediaries between which two entities?
Pharmaceutical companies and large drug purchasers.
Driving economies of scale, PBMs can sell drugs by mail at lower prices than retail pharmacies. True or false?
True.
The high cost of medicines is the cause of increasing healthcare costs. True or false?
False.
What percentage of the total healthcare costs in the U.S. are related to expenditures for prescription and non-prescription pharmaceuticals?
8%.
