Value of Pharmaceutical Industry

Many people do not realise the contribution that pharmaceutical companies make to the welfare of mankind. Not only do their medicines save lives, improve health, and prolong and enhance the quality of life, but medicines also reduce overall healthcare costs by speeding up recovery times and often reduce the need for surgery and hospitalisation.

Today's new medicines obviate the need for retreatment costs following the use of older and less effective medicines and often result in better adherence and compliance due to simpler dosage regimens, improved delivery systems and fewer side-effects. Medicines also prevent the consequences of many diseases for example amputation in diabetes, strokes or heart attacks resulting from high blood pressure or cholesterol.

Conditions that previously resulted in death, smallpox, polio, diabetes, infections, asthma, heart attacks, TB and malaria - can now be treated successfully.

People can enjoy a longer and more productive life without suffering pain and disability from conditions such as HIV/AIDS, ulcers, migraine, arthritis, sexually transmitted infections, cancer, depression, epilepsy, heart attacks and strokes, because they can now be managed more effectively through the use of new medicines.

As well as providing health-promoting medicines, South Africa's pharmaceutical industry also makes a substantial investment in the region by investing in local healthcare, ensuring continued access to new medicines and contributing to the local economy through employment, taxes, skills development and technology transfer. While providing access to new medicines the pharmaceutical industry also educates users about the medicines and supports academia and continuing professional development.

An overriding ethic of PIASA members is that they conduct business in a socially responsible and friendly manner in the spirit of the country, and they help the community at large through numerous social investment programmes.

Investment by local pharmaceutical companies cannot be valued highly enough. It is estimated that their financial contribution to the local economy is at least R12 billion, taking into account local expenditure, salaries, rentals and local procurement.

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