Pharmaceuticals Anonymous

Saturday, April 19, 2008

25 Shocking Facts About the Pharmaceutical Industry

pillsImage: Valley of the Dolls, movie, 1960's

From the Nursing Online Education Database

25 Shocking Facts About the Pharmaceutical Industry

By Laura Milligan
Researching and snagging an adequate, wallet-friendly health care plan is tough these days, despite its high-profile presence in political debates. A large part of the controversy over expensive health costs stems from criticism of high-priced medications marketed by powerful pharmaceutical companies. From Medicare fraud to CEOs worth billions of dollars, big drug companies are accused of putting profits above patients, spinning false PR campaigns and more. We've uncovered 25 of the most shocking facts about the pharmaceutical industry in this list.
Some excerpts:

The price of drugs is increasing faster than anything else a patient pays for: Marcia Angell writes in her book The Truth About Drug Companies that "drugs are the fastest-growing part of the health care bill which itself is rising at an alarming rate."

Your doctor may have an ulterior motive behind your prescription: In 2007, the St. Petersburg Times reported that drug reps often give gifts to convince doctors to prescribe the medications that they represent.

Pharmaceutical companies spend more on marketing than research: According to ScienceDaily, a "new study by two York University researchers estimates the U.S. pharmaceutical industry spends almost twice as much on promotion as it does on research and development."

Brand name meds often have a 1,000% mark-up price: Many Americans are aware that brand name prescriptions cost more than generic meds.

Read the rest here