Pharmaceutical companies say that they need long patents that keep the price of their drugs high so that they can invest in research. But that’s not actually what they’re spending most of their money on. Instead, they’re spending more — sometimes twice as much — on advertising directly to doctors and consumers.
Data from the BBC, visualized by León Markovitz:
“When do you cross the line from essential profits to profiteering?,” asked Dr Brian Druker, one of a group of physicians asking for price reductions.
Comments 12
Bill R — February 21, 2015
While drug development and manufacturing has done as much or more to improve the quality of life and longevity than any other human endeavor this industry has certainly positioned itself as one people love to hate.
Kickbacks to doctors, advertising directly to patients, tricky patent workarounds, market-specific pricing, you name it.
The question is: Are society and these companies' shareholders gaining maximum benefit from their business practices?
I don't know the answer but I do know that society and the shareholders have benefitted greatly to date. And I do not trust the agenda-laden tinkering of legislators or politicians to "improve" things. I'd prefer to bet on the market to handle this one.
Some may disagree but they own the burden of stating exactly what they would change and describe the potential pros and cons.
Chart of the Week: Big Pharma Spends More on Marketing than Research - Treat Them Better — February 21, 2015
[…] Chart of the Week: Big Pharma Spends More on Marketing than Research […]
Michael Sabino — February 22, 2015
I cringe when I see the phrase "Big Pharma" because it usually leads to an earful of pseudoscience and quackery, alas, this is a valid and necessary criticism, in my opinion.
Joffre (J.D.) Meyer — February 23, 2015
See how Roche is the only one to spend more on R&D. Lilly is close to 50-50.
Kelly H — February 23, 2015
I remember one day I was in an appointment with a nurse when I found a pen with the name of the cholesterol medication the doctor had prescribed me on it. I made a joke about that being why I'd been prescribed that one, but afterwards I wondered if it wasn't just a joke.
Music Monday: A Night at the Symphony – Bridget Magnus and the World as Seen from 4'11" — February 23, 2015
[…] to go shopping I bet Americans would say enough); a shocking misunderstanding of anatomy; because ads will surely cure you; and amusing alteration of […]
Leseliste Februar 2015 — March 2, 2015
[…] Chart of the Week: Big Pharma Spends More on Marketing than Research: Pharmaceutical companies say that they need long patents that keep the price of their drugs high so that they can invest in research. But that’s not actually what they’re spending most of their money on. — by Lisa Wade — Tags: wp2015-02 — http://thesocietypages.org/socimages/2015/02/21/chart-of-the-week-big-pharma-spends-more-on-marketin… […]
Keira Arnot — March 19, 2020
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