Submitted by: Submitted by ehmmercado
Views: 518
Words: 2363
Pages: 10
Category: Science and Technology
Date Submitted: 09/03/2011 06:19 PM
INTRODUCTION
The pharmaceutical industry develops, produces, and markets drugs licensed for use as medications. Pharmaceutical companies are allowed to deal in generic and/or brand medications and medical devices. They are subject to a variety of laws and regulations regarding the patenting, testing and ensuring safety and efficacy and marketing of drugs.
In light of recent health epidemics and the reality of an ever-aging population, policy makers in both developing and developed countries are confronted with the challenge of stimulating the discovery and research of drug therapies for a wide variety of illnesses. Consequently, questions have been raised regarding the extent to which a strong patents system positively encourages “broad” and “deep” innovation in the pharmaceutical industry (Lilja et. al. 2008, p. 83). By “broad” innovation I am referring to the variety of drugs created and diseases treated, while “deep” innovation denotes the degree and rate of R&D being invested towards a particular drug.
Baxter Healthcare is a Pioneer in Healthcare. The company was responsible for the first commercially manufactured intravenous solutions, the first commercial kidney dialysis machine, the first concentrated clotting factor to treat hemophilia and many other medical breakthroughs. Baxter Products are used to provide critical, life-saving and life sustaining therapies. This creates a common purpose among Baxter’s employees worldwide: to save and sustain lives.
For this study, the area of expertise is Baxter’s Anesthesia. Anesthesia has played a major role in making surgical intervention a viable therapeutic option in healthcare. Certainly, no surgical procedure could be conducted humanely if not for a way to keep the patient from feeling pain. There are two basic categories of anesthesia: general anesthesia, which renders the patient unconscious, and local or regional anesthesia, which blocks sensation in a particular area of the...