Pharmaceuticals Really Do Need Business Law Advice

"Big pharma" is big business these days. The companies and individuals that study, manufacture, distribute, and sell much needed drugs deserve their profits.

Yet, many involved in this industry fail to think of themselves as businesses. Instead, various pharmacists, physicians, scientists, researchers, and others believe they are immune from common legal problems that plague other commercial entities.

This thinking can wind up being a huge mistake. Following are some of the ways that the business end of the drug industry can spell trouble for those without experienced legal representation.

Contract Breaches

Contracts keep American commerce flowing. Parties know their duties and those of the other side. Yet, contract breaches occur often, especially in the drug business.

For example, a manufacturer makes promises to put a certain drug on the market this year. Unfortunately, the Food and Drug Administration (FDA) might take longer than expected to certify the drug. The distributors and retailers down the supply line are left without the promised product or a replacement, most likely.

When this sort of thing happens, these entities need a business lawyer to enforce the terms of the contract or demand direct recompense for their financial losses.

Copyright and Trademark Infringements

Pharmaceutical professionals who have copyrighted or trademarked material really need a business lawyer by their side. This is the internet age. Anyone in the world with a computer can download printed research materials, images, logos, etc, to use on their own behalf. Most have no clue of the possible illegality of these actions if such usage has been prohibited.

A vigilant business lawyer on retainer can check regularly for copyright or trademark infringements. When found, the lawyer can issue a cease and desist letter. If necessary, they can then file a lawsuit.

Negligence

The government, media, and consumer watchdog groups are all on the lookout for drugs with harmful side effects. If a manufacturer, distributor, or retailer knew of prevalent side effects and failed to inform the FDA or the public in a proper manner, mass negligence lawsuits and fines are probable.

Pharmaceutical professionals need a trained business lawyer who can help them objectively weigh the benefits of their proposed drugs to the known side effects. This way, they can clearly articulate this information to outsiders and prevent any misunderstandings.

Quite often, science and medical professionals are too close to the drug to think clearly in this area. A lawyer is a trained, objective mind there to help.

Contact a Business Attorney Today

If you are involved in the highly lucrative pharmaceutical industry, you should get in touch with a business lawyer today. For the reasons above, and many more, the risks to your business are too high to ignore.

About Me

Fascinating Legal Problems

There’s a reason why there are so many legal procedural shows on television these days. The law can be an intriguing thing. Going to court isn’t usually something that you look forward to, but having the court system available is definitely a positive thing. You never know when you may need to use it for one reason or another. I’ve found, as a legal professor, that taking a look at interesting cases in different areas of the law is the best way to help my students understand their subject. I’m hoping this blog will give you an idea of how the court system can work for you by giving you at glimpse at some fascinating cases and the laws behind them.

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