The pharmaceutical companies in Arizona develop a variety of new drugs that provide valuable medical benefits each year.
Many of these drugs are expensive, contributing to rising healthcare costs in both the private and public sectors.
The Arizona Policymakers have thought about policies aimed at lowering drug prices and reducing federal spending expenditures on drugs.
Such policies would almost certainly reduce the pharmaceutical companies in Arizona’s incentive to develop new drugs.
Challenges faced in the pharmaceutical sector in Arizona
The pharmaceutical industry in Arizona has recently come under fire from federal investigators, the general public.
Overdose deaths involving prescription pills quadrupled between 1999 and 2014. According to the Centers for Disease Control and Prevention, over 165,000 people died from an opioid overdose during those 15 years.
The big pharmaceutical companies in Arizona wield power in a variety of ways. They spend billions of dollars to market their products to doctors.
They spend millions of dollars lobbying Congress and state legislators to gain favor with policymakers. They also flood television and magazines with direct-to-consumer advertisements to sell their drugs.
The tactics were successful in terms of prescription pain medication. Insys Inc., based in Chandler, which manufactures and markets the fentanyl spray Subsys, is under investigation by three state attorneys general, including Arizona Attorney General Mark Brnovich.
According to the Arizona State Board of Pharmacy via the Drug Enforcement Administration, prescriptions for opioid painkillers increased to 7.5 million in 2015 from 5.1 million in 2014. Medicine marketing is legal, but companies can cross the line.
Several of the investigations involve employees and health care professionals who have been accused of violating the federal Anti-Kickback Statute.
According to BCC Research, the global market for pain management pharmaceuticals is expected to reach $40.4 billion in revenue by 2020.
It is also expected to grow – or at least remain constant – as a result of an aging population, an increase in cancer and chronic pain patients, and medical advances that allow people to live longer lives.
What Factors Influence R&D Spending in Arizona?
The decisions of pharmaceutical companies in Arizona regarding R&D spending are influenced by three major factors:
- Expected lifetime global revenues from a new drug;
- Costs of developing a new drug; and
- Policies and programs that influence the supply and demand for prescription drugs.
Companies’ expectations about a drug’s revenue stream are informed by a variety of factors, including the anticipated prices it could command in various markets around the world and the expected global sales volume at those prices (given the number of people who might use the drug).
Existing drug prices and sales volumes provide information about consumers’ and insurance companies’ willingness to pay for drug treatments.
Importantly, when drug companies set a new drug’s price, they do so to maximize future revenues after deducting manufacturing and distribution costs.
Pharmaceutical companies in Arizona
Here is a list of some of the pharmaceutical companies in Arizona:
4front Ventures Inc corporate family
Address: 5060 N 40TH St Ste 120 Phoenix, AZ, 85018-2140 United States
Phone: (312) 593-3311
Website: Visit here
Revenue: $57.63 million
Year Started: 2015
Accelerate Diagnostics
Address: 3950 S Country Club Rd Ste 470 Tucson, AZ, 85714-2240 United States
Phone: (520) 365-3100
Website: Visit here
Revenue: $11.78 million
Sales Growth: 20.09%
Year Started: 1982
Incorporated: 2012
Andrew Arthur Medical Inc
Address: 8350 E Raintree Dr. Ste 101 Scottsdale, AZ, 85260-2691 United States
Phone: (480) 385-4700
Website: Visit here
Revenue: $2.19 million
Year Started: 2003
Incorporated: 2003
Anumed International LLC
Address: 3908 E Broadway Rd Ste 110 Phoenix, AZ, 85040-2995 United States
Phone: (480) 921-3880
Website: Visit here
Revenue: $1.40 million
Year Started: 2009
Atlas Pharmaceuticals, L.L.C.
Address: 711 E Carefree Hwy Ste 207 Phoenix, AZ, 85085-0109 United States
Phone: (623) 445-6540
Website: Visit here
Revenue: $9.73 million
Year Started: 2016
Benuvia Therapeutics LLC
Address: 444 S Ellis St Chandler, AZ, 85224-1038 United States
Phone: (480) 581-1385
Revenue: $4.43 million
Year Started: 2019
Biocare, Inc.
Address: 2826 S Potter Dr. Tempe, AZ, 85282-3144 United States
Phone: (602) 850-6221
Website: Visit here
Revenue: $15.71 million
Year Started: 2016
Incorporated: 2016
Biomin Industries, Inc.
Address: 119 S River Dr. Tempe, AZ, 85281-3010 United States
Phone: (480) 968-5934
Website: Visit here
Revenue: $6.89 million
Year Started: 1977
Incorporated: 1979
Bms Medical Management Inc
Address: 625 S 5TH St Phoenix, AZ, 85004-2624 United States
Phone: (800) 478-2778
Website: Visit here
Revenue: $619,147
Year Started: 2018
Cancer Prevention Pharmaceuticals, Inc.
Address: 1760 E River Rd Ste 250 Tucson, AZ, 85718-5965 United States
Phone: (520) 908-7774
Website: Visit here
Revenue: $3.71 million
Year Started: 2008
Incorporated: 2009
CP Skin Health Group, Inc.
Address: 6210 E Thomas Rd Ste 200 Scottsdale, AZ, 85251-7095 United States
Phone: (480) 946-7221
Website: Visit here
Revenue: $300.00 million
Year Started: 1988
Dreambrands, Inc.
Address: 7466 E Monte Cristo Ave Ste 100 Scottsdale, AZ, 85260-1220 United States
Phone: (602) 354-7640
Website: Visit here
Revenue: $2.82 million
Year Started: 2004
Incorporated: 2004
Enemeez, LLC
Address: 1406 W Victory Ln Phoenix, AZ, 85027-1309 United States
Phone: (602) 276-3434
Website: Visit here
Revenue: $1.52 million
Year Started: 2005
Incorporated: 2005
Environmental Pharmaceuticals LLC
Address: 7326 E Evans Rd Ste B Scottsdale, AZ, 85260-3136 United States
Phone: (480) 659-9611
Website: Visit here
Revenue: $1.43 million
Year Started: 2009
Fusion Formulations, L.L.C.
Address: 1430 W Auto Dr. Ste 109 Tempe, AZ, 85284-1034 United States
Phone: (602) 680-1650
Website: Visit here
Revenue: $3.79 million
Year Started: 2007
Gateway Anesthesia Associates, P.L.L.C.
Address: 4838 E Baseline Rd Ste 108 Mesa, AZ, 85206-4672 United States
Phone: (480) 981-2400
Website: Visit here
Revenue: $5.58 million
Year Started: 2007
Good Health Manufacturing, Inc.
Address: 6888 W Frye Rd Chandler, AZ, 85226-3340 United States
Phone: (480) 656-6568
Website: Visit here
Revenue: $9.99 million
Year Started: 2001
Incorporated: 2001
Harvest, Inc.
Address: 1155 W Rio Salado Pkwy Ste 201 Tempe, AZ, 85281-2830 United States
Phone: (480) 494-2261
Website: Visit here
Revenue: $8.80 million
Year Started: 2015
Healthy Solutions, LLC
Address: 7812 E Acoma Dr. Ste 4 Scottsdale, AZ, 85260-6987 United States
Phone: (800) 391-3221
Website: Visit here
Revenue: $9.52 million
Year Started: 2006
Herbal Brands, Inc.
Address: 1430 W Auto Dr. Ste 101 Tempe, AZ, 85284-1034 United States
Phone: (602) 680-1600
Website: Visit here
Revenue: $6.36 million
Year Started: 2019
Hub Pharmaceuticals, LLC
Address: 6617 N Scottsdale Rd Ste 204 Scottsdale, AZ, 85250-7803 United States
Phone: (888) 393-3767
Website: Visit here
Revenue: $2.19 million
Year Started: 2005
Humabiologics, LLC
Address: 275 N Gateway Dr. Phoenix, AZ, 85034-1700 United States
Phone: (602) 278-8289
Website: Visit here
Revenue: $1.70 million
Year Started: 2018
Isagenix International, LLC
Address: 155 E Rivulon Blvd Gilbert, AZ, 85297-0002 United States
Phone: (480) 889-5747
Revenue: $140.90 million
Year Started: 2002
Journey Medical Corporation
Address: 9237 E Via De Ventura Ste 105 Scottsdale, AZ, 85258-3329 United States
Phone: (480) 434-6670
Website: Visit here
Revenue: $44.53 million
Year Started: 2014
Incorporated: 2013
Lifetree Manufacturing LLC
Address: 2401 W 1ST St Tempe, AZ, 85281-2329 United States
Phone: (480) 477-9075
Website: Visit here
Revenue: $3.73 million
Year Started: 2013
Medavail Holdings, Inc.
Address: 2196 E Camelback Rd Ste 200 Phoenix, AZ, 85016-4751 United States
Phone: (973) 509-0444
Website: Visit here
Revenue: $13.97 million
Sales Growth: 186.67%
Year Started: 2007
Incorporated: 2007
Naturally Nutraceuticals, Inc.
Address: 4404 E Elwood St Phoenix, AZ, 85040-1909 United States
Phone: (480) 991-0200
Revenue: $20.99 million
Year Started: 1948
Incorporated: 1992
Norcimbus F. Crawford IV, Inc.
Address: 3451 E Harbour Dr. Phoenix, AZ, 85034-7289 United States
Phone: (602) 437-8500
Website: Visit here
Revenue: $2.51 million
Year Started: 2002
Nutritional Holdings, Inc.
Address: 210 S Beck Ave Chandler, AZ, 85226-3311 United States
Phone: (480) 966-9630
Website: Visit here
Revenue: $103.64 million
Year Started: 1996
Incorporated: 1996
Olympian Labs, Inc.
Address: 16641 N 91ST St Ste 101 Scottsdale, AZ, 85260-1550 United States
Phone: (480) 483-2302
Website: Visit here
Revenue: $8.69 million
Year Started: 1992
Incorporated: 1992
Optum Pharmacy 801, Inc.
Address: 23620 N 20TH Dr. Ste 12 Phoenix, AZ, 85085-0621 United States
Phone: (623) 742-1700
Website: Visit here
Revenue: $20.00 million
Year Started: 2006
Incorporated: 2006
Pinnacle Transplant Technologies LLC
Address: 1125 W Pinnacle Peak Rd Bldg 2 Phoenix, AZ, 85027-1401 United States
Phone: (623) 277-5400
Website: Visit here
Revenue: $3.55 million
Year Started: 2010
Preventics, Inc.
Address: 15344 N 83RD Way Ste 101 Scottsdale, AZ, 85260-2594 United States
Phone: (480) 991-4033
Website: Visit here
Revenue: $1.44 million
Year Started: 1986
Incorporated: 1987
Prugen, Inc.
Address: 17250 N Hartford Dr. Scottsdale, AZ, 85255-5432 United States
Phone: (480) 585-0122
Website: Visit here
Revenue: $1.86 million
Year Started: 2006
RLC Labs, Inc
Address: 27626 N 44TH St Cave Creek, AZ, 85331-6622 United States
Phone: (877) 797-7997
Revenue: $10.68 million
Year Started: 2010
Incorporated: 2005
Tgen Drug Development
Address: 13208 E Shea Blvd Ste 100 Scottsdale, AZ, 85259-5454 United States
Phone: (602) 358-8322
Website: Visit here
Revenue: $1.96 million
Year Started: 2008
Tri Medica International Inc
Address: 1895 S Los Feliz Dr. Tempe, AZ, 85281-6023 United States
Phone: (480) 998-1041
Website: Visit here
Revenue: $10.99 million
Year Started: 1985
Twenty-First Century Healthcare, Inc.
Address: 443 W Alameda Dr. Ste 125 Tempe, AZ, 85282-2076 United States
Phone: (480) 966-8201
Website: Visit here
Revenue: $39.95 million
Year Started: 1993
Incorporated: 1993
World Nutrition, Inc.
Address: 15207 N 75TH St Ste 107 Scottsdale, AZ, 85260-2445 United States
Phone: (480) 921-1188
Website: Visit here
Revenue: $3.04 million
Year Started: 2000
Incorporated: 2000
Faqs about the pharmaceutical companies in Arizona
- How did the increased cost of pharmaceuticals in Arizona affect the citizens?
In 2017, 26 percent of Arizona residents reported that they had stopped taking a prescribed medication due to cost.
According to polls, 80 percent of Arizona voters are concerned about the cost of prescription drugs, with half saying they are “extremely concerned.”
- What’s the average cost of pharmaceuticals in Arizona?
Between 2012 and 2017, the annual average cost of prescription drug treatment in Arizona increased nearly 58 percent, adding up to $1,000 to the cost of some brand-name medications.
- Who is responsible for regulating pharmaceutical companies in Arizona?
The Arizona State Board of Pharmacy is responsible for regulating pharmaceutical companies in Arizona and safeguarding the health, safety, and well-being of Arizona residents.
- How much have pharmaceutical companies in Arizona spent on R&D?
The pharmaceutical industry spent over $80 million on research and development in 2019. That amount, when adjusted for inflation, is roughly ten times what the industry spent per year in the 1980s.
- What’s the rate of new drugs approved in Arizona over the years?
Between 2010 and 2019, the number of new drugs approved for sale increased by 60% compared to the previous decade, reaching a high of 59 in 2018.
Conclusion
In 2019, the pharmaceutical companies in Arizona spent a lot of money on R&D. These costs were incurred for a variety of activities, including the discovery and testing of new drugs, the development of incremental innovations such as product extensions, and clinical testing for safety monitoring or marketing.
The percentage of revenue that pharmaceutical companies in Arizona devote to R&D has also increased:
In 2019, pharmaceutical companies in Arizona spent roughly one-quarter of their revenues (net of expenses and buyer rebates) on R&D expenses, which is nearly twice as much as they spent in 2000.
This revenue share exceeds that of other knowledge-based industries such as semiconductors, technology hardware, and software.
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Chibueze Uchegbu is a certified medical physiologist with a great passion for healthy living.