Big Pharma Pockets $711 Billion in Profits by Robbing Seniors, Taxpayers
The eleven largest global drug companies made an astonishing $711 billion in profits over the ten years ending in 2012.
In his post, Ethan Rome says: ” There are two reasons why it matters that the drug industry is booking eye-popping profits. First, American consumers and taxpayers are footing the bill, and second, we could do something about it. ‘
Read Big Pharma Pockets $711 Billion in Profits by Robbing Seniors, Taxpayers, huffingtonpost, 04/08/2013.
A new campaignAll trials registered, all results reported – supported by the Medical Research Council (publicly funded organisation in the UK dedicated to improving human health) – calls for the results of all clinical trials to be made public. Sir Iain Chalmers, Coordinator of the James Lind Initiative, has strong words on researchers who hide trial results and ends his post by saying: “ If action is not taken urgently by research funders and regulators, information on what was done and what was found in trials could be lost forever, leading to bad treatment decisions, unnecessary repetition of trials, and missed opportunities for good medical practice. ”
How Drug Companies Mislead Doctors and Harm Patients
Last February 18th, 2013, at Town Hall Seattle, Dr. Ben Goldacre talked about his book, Bad Pharma: How Drug Companies Mislead Doctors and Harm Patients, in which he discusses the influence of the pharmaceutical industry on the global healthcare system and argues that pharmaceutical companies hide negative studies and use questionable testing and intensive lobbying to get what they want, regardless of whether the drugs they produce are good for patients. Watch the video (1 hour, 26 minutes) .
Why do so many doctors still think they are invincible to Big Pharma’s influence?
” The bottom line for any for-profit company is to sell their product, and since the pharmaceutical industry can’t sell drugs directly to patients, they convince doctors to prescribe them. The more a doctor sees or hears the name of a drug, whether through drug reps, brochures or seeing the name on stationery, the more likely the drug is to be prescribed. ”
” … When a company’s patent on a brand-name drug expires, other companies are free to make generic versions of the same drug… Often times, there are legal disputes between brand-name drug manufacturers and generic-drug companies. It’s increasingly common for this litigation to end with out-of-court settlements in which patentholders pay potential competitors to delay the introduction of generics. That’s pay-to-delay… ”
How Drug Companies mislead Doctors and harm Patients
When a new drug gets tested, the results of the trials should be published for the rest of the medical world — except much of the time, negative or inconclusive findings go unreported, leaving doctors and researchers in the dark. In this impassioned talk, Ben Goldacre explains why these unreported instances of negative data are especially misleading and dangerous.
The video, shot during the debate at the Royal Institution last month, shows the author of Bad Science and Bad Pharma debate the notion ‘Pharma is not getting its act together’ with the chief executive of the ABPI.