Cancer is a curse, but also a growth market for investors
This article talks about how cancer treatment is becoming one of the fastest growing "businesses" in the healthcare field right now. While it seems rather dark to compare the production of drugs and other treatments to a business, there will be 22 million new cases of cancer per year by 2030, and most of those people will be in the market for pharmaceuticals. There is a demand that needs to be met, and these Big Pharma companies will want to supply drugs to meet the needs of the people. Regardless as to whether the company's main reason is to sell drugs to make a profit or to sell drugs to make the world a better place, it is still a "ethical investment", meaning that they receive financial returns for doing a good thing.
The problem with this kind of market is that there are needs not being met. People with rarer forms of cancer might find it harder to find more affordable and readily available treatments because pharmaceutical companies may not view the production of those treatments to be profitable. This leaves a whole group of people without life saving drugs. In my opinion, I believe that companies should cater to these people, because they are a guaranteed market with little to no substitutions.
I found this article very interesting, because it made me think about things that I've never considered before. Since cancer is so serious and people are always dying from it, there are less regulations for cancer drugs in order for them to be produced faster. This allows drugs to be produced at a faster rate, and companies can then sell more. While I knew that there was a lack of morality when it came to Big Pharma sales, I did not know that they had lower regulations that allowed them to sell more drugs. This is not a good business practice, but there are few substitutions for these drugs, so patients have no choice.
To prepare for the upcoming individual assignments, I will go to Dr. Chung and/or LinkedIn in order to find a mentor. I would go to my mentor for help on the other assignments (ie. what business model I should use for my specific business).
