Article Source: msnbc.com
from:msnbc.comRebates, low-cost generic drugs help drive sales
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Antipsychotic drugs were the top sellers? I woulda thought that'd be the headline. That drug companies make insane profits is nothing new.
I'm sure there's nothing foul prevading in a society where antipsychotic drugs are the top sellers...
Here's the SAME article spun a 2nd & 3rd way- & it doesn't stop there either.
#1
That's pretty interesting... Anti-psychotic Drugs top the list you say... One could venture and assume many things from that statement.
The net profit for drug companies is about 3.5%. Target an most food store chains make more. It takes an average $800million to get a drug on the market, and they have a 20 year patent, then it goes to generic. The developement time from concept the FDA approval is an average of 13 years of that 20 year span. So they have 7 years to make profit that pays for all those drugs that do not make it, lawsuits, and the R&D for those drugs that may only benefit a couple hundred people.
Several years the major drug companies pulled all R&D from Europe because they were being taxed to the point they could not reinvest. Now the US will do the same. The article said that new drugs are not being developed as the rate that they have been. Just watch how that will reduce any new drugs that will help.
Whatever Jandrel. I worked for Amgen in the IT department. Trust me, they're rolling in it. They spare no expense in anything, including weekly keggers for the entire staff.
And Amgen isn't even the biggest pharmacutical company.
The fact that antipsychotic drugs are the top seller, over diabetes drugs, add, asthma, depression, et al... that blows any other headline out of the water.
Kinda blows my mind it was mentioned as a sort of sidebar in the final paragraph of the article.
Poppycock.
300 Billion and and they want more?
Consider drugs, that for instance, helps deal with headaches... Some side effects range from Nose bleeds to diaherra to liver damage... yet these are legal...
I do not take any medication because it's a scam from the get go...
If God didn't want big Pharma companies to make insane profits he wouldn't have let them buy congress.
Who are we to protest God?
Doesn't it say" In God We Trust " in the back of the podium, guess they all think they are God.. LOL
I'm sorry champ but God has nothing to do with this
Ok I want people to think about this, big pharma makes man-made medications that keep people alive. I.E. they stop death for a period of time. Thats amazing, and expensive. So I have no problem with an industry making that much.
If you read the articles (all 3 versions #1) state that the leading growth & profits continue to be the anti-psychotic medications, of WHICH the predominate number carry Black Box warnings for suicide.
As well as many medication's long term side effect aren't known due to fast tracking approval through the FDA.
So while a certain group of medications might keep people alive the leading sellers & profit makers arguably DON'T.
I do ! Three hundred billion is about as bad as street drug market and there's fewer deaths with street drugs at the expense of the population unlike the drug pushing companies
Big Pharma is protected from market forces by their friends in congress.
Remove the protections, and let market forces decide drug costs.
(Which would undoubtably had been part of the benefit Republicans could have added to HCR had they been able to contribute ideas to the bill as it evolved.)
Drug companies should be non-profit and just spends ton of money to make new drugs for people just because it is a good thing for society. Better yet, we should just have the government run these companies to ensure they are doing the right thing
We spend a good deal of our lives learning how to live within a social framework enforced by "authority".
Our earliest and best experiences with authority are thought by some to be a big part of who we are and how we define ourselves. Thing is, sometimes our positive experiences with authority get transferred to situations where they just don't fit.
The government is just not a way to make sure drug companies behave ethically. I know that doesn't seem right... because the police are authority, and we trust them to enforce laws.... but hear me out.
Drug companies are excused from market forces by congressional acts that were precipitated by huge campaign donations, fact finding junkets and assorted favors from Pharma lobbyists. It seems that without congressional interference, the pharma industry would not be motivated to research new drugs.
... Not mentioning that pharma companies are the last people who should be researching new drugs... I just want to point out that nobody ever broached the subject of deregulating pharma companies. It wasn't even mentioned in the "Health Care Debate".... possibly because there were no investment bankers involved. (Investment bankers like deregulation quite a lot)
These regulations though, are about price setting, gouging and not having to compete. Pharma companies have special priviliges that way. Besides that, they own Congress.
Speaking of which...there may be some light at the end of that tunnel.
It seems that foreign owned corporations are making record contributions to politicians. The price of an American Senator went through the roof earlier this year as contributions were deregulated.
Now as scary as that might seem for folks who like Taiwan and Israel (Most of the contributions come from Mideast oil and Chinese manufacturing) It might ultimately turn out to be a positive thing, at least in one important way.
Before deregulation, fundraising was a consuming part of the job for any politician. Derrieres had to be kissed and photo ops don't grow on trees. These days though, suddenly every junior Congressman gets a huge check from foreign governments, via their corporations. You don't even have to try... you just put out your palm and they cross it with silver.
It makes Pharma contributions look like small potatoes. A mere industry can't even afford to buy a congressman now. You pretty much have to be a country. While this will have a big affect on our foreign policy, it might even free up congressmen to be more forthcoming and ethical in domestic matters.
But I ramble...
pass the aspirin please. This is all giving me a headache!
Where did common sense and personal responsibility go?
Our politicians will only do what is right for them and their largest donors as proven by the lack of Tort reform,tax releif for small buisiness and the self employed,and certainly the freedom to buy and sell insurance across state lines,and the government should be encouraged to buy drugs for the needy where ever most cost effective .
America is in a sad state of affairs and it will get worse.
Fortunately, we Americans don't have to live in this country to put up with the BS....
Thank GOD for that!
Scam Industry
Yes, there certainly are many people who get on pills for some sort or another and they are known to work. However, I would say that about 1/4th of all pill poppers don't really need the pills they're taking. The docs feel the need to "do something" and the patient feels "something was done" and our medical costs have continued to increase.
What is the $ sales for generic drugs in US in 2009 please?
Thx