Pharmaceuticals Anonymous

Wednesday, July 29, 2009

25 Shocking Facts About the Pharmaceutical Industry

25 Shocking Facts About the Pharmaceutical Industry

"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.

1. 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." Dr. Angell argues that patients are spending more on drugs simply because they are being prescribed more drugs than ever before and that "those drugs are more likely to be expensive new ones instead of older, cheaper ones, and that the prices of the most heavily prescribed drugs are routinely jacked up, sometimes several times a year."
2. Your health care provider may have an ulterior motive behind your prescription: In 2007, the St. Petersburg Times reported that drug reps often give gifts to convince medical professionals to prescribe the medications that they represent. Dr. James P. Orlowski tries to teach his students that interaction with drug reps is not in the best interests of patients. Even though many doctors may believe solicitation from drug reps is unethical or at the very least impractical, gifts like free meals, pens, posters, books, and free samples are offered to physicians in an effort to influence their prescription practices.
3. 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." Despite pharmaceutical companies' claims that Americans pay such high prices for prescription medications because they're really paying for research and development costs, the industry spent $33.5 billion on promotion costs in 2004...."
From Nursing Online Education Database. Read the other 22 shocking facts at this Link
And using "new media", Pharma is coming up with new ways to influence consumers to buy - all the time. Link
Drug makers cash in on DC lobbying
Politicians seek curb to drug ads
Pharma lobbying, from OpenSecrets; click to see larger version

Are you wondering who's running the show - and the country?
You may find some surprising answers at Congrelate.

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