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Topic: Drug money (Read 631 times) |
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tommyD
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Big Pharma is always saying they cannot lower drug prices because it costs so much in research and development to bring their products to market.
Well, they do spend a lot of money on R&D. In 2004, Pfizer spent $7.68 billion on R&D, and Glaxo spent $5.2 billion.
But that was chump change compared to what they spend on marketing and promotion: Pfizer spent $16.9 billion, and Glaxo spent $12.9 billion - more than twice thier R&D spending.
This is according to a study done by the Center for Public Integrity. The whole story is at http://www.publicintegrity.org/rx/
Pfizer’s sales in 2004 - $50.9 billion, a 9.8% share of the market. Glaxo sold $32.7 billion, a 6.3 percent market share.
Of the top ten pharmaceutical firms, only one - Sanofi-Aventis - spent more on R&D ($9.26 billion) than on marketing and promotion $5.6 billion).
Johnson and Johnson spent three times what they did on R&D on promotion and marketing: $15.8 biillion vs. $5.2 billion.
The top ten Big Pharmas:sold $265 Billion in drugs in 2004, spent $50 billion on R&D and almost $100 billion on marketing and promotion.
To be fair, some of this markeing and promotion cost went for free samples.
To be just a little unfair, this reminds me of what can be heard on certain street corners: "First one's free..."
First one’s free...
-tommyD
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| « Last Edit: Jul 11th, 2005, 5:59pm by tommyD » |
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burnt-toast
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Re: Drug money
« Reply #1 on: Jul 11th, 2005, 7:25pm » |
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All too true!!!!!!
But is there any information about the political bribe money paid to our representatives and political parties?
After all, how else can you explain the U.S. Pharmaceutical industries ability to remain the only protected industry in our supposed "global market" "Free Trade" economy?
Or do they just roll these costs up into the Marketing/Promotions category?
Tom
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tommyD
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Re: Drug money
« Reply #2 on: Jul 11th, 2005, 8:03pm » |
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The study says the industry as a whole spent $800 million on lobbying over the past seven years. Chump change for these guys. They bought the government for chump change.
-tommyD
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burnt-toast
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Re: Drug money
« Reply #3 on: Jul 11th, 2005, 8:13pm » |
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on Jul 11th, 2005, 8:03pm, tommyD wrote:The study says the industry as a whole spent $800 million on lobbying over the past seven years. Chump change for these guys. They bought the government for chump change.
-tommyD |
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I guess if you only count what our Representatives reported........ 
Tom
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