How big pharma take advantage of the system

[DrCommonSense]

This basically breaks down the reasons why big pharma, despite producing fewer and fewer novel drugs of value that remain on patent, have LARGE profits

15 Dirty Big Pharma Tricks That Rip You Off and Risk Your Health for Profit

Why aren't we targeting this fraud to "save" money?

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[Ducttape]

on this point I do agree with you completely.

include big insurance in this question too.

 

[DrCommonSense]

on this point I do agree with you completely.

include big insurance in this question too.

I've gone through Pfizer's formulary over the last 10 years and to be honest, its mostly fraud/BS.

Lyrica is their biggest selling drug due to the hardcore FIBRO push.

Since they lost their patents on Statin medications, they really haven't produced any medications of value, so they have been scamming the system using the methods mentioned in this article.

Look at the biggest revenue generators for Pfizer and they are mostly anti psych drugs or Lyrica.

 

[GH253]

There is no such thing as "Big Pharma." That term is like "society" or "the public health" -- an abstraction not anchored to reality.

 

[Ducttape]

There is no such thing as "Big Pharma." That term is like "society" or "the public health" -- an abstraction not anchored to reality.

completely disagree. there are major lobby groups and organizations that lobby specifically for pharmaceutical companies. it is an industry onto itself.

Wikipedia: Pharmaceutical lobby - Wikipedia

The top twenty pharmaceutical companies and their two trade groups, Pharmaceutical Research and Manufacturers of America (PhRMA) and Biotechnology Industry Organization, lobbied on at least 1,600 pieces of legislation between 1998 and 2004. According to the non-partisan Center for Responsive Politics, pharmaceutical companies spent $900 million on lobbying between 1998 and 2005, more than any other industry. During the same period, they donated $89.9 million to federal candidates and political parties, giving approximately three times as much to Republicans as to Democrats.[2] According to the Center for Public Integrity, from January 2005 through June 2006 alone, the pharmaceutical industry spent approximately $182 million on Federal lobbying.[3] The industry has 1,274 registered lobbyists in Washington D.C. [4]

Lobbying Spending Database Pharmaceuticals/Health Products, 2016 | OpenSecrets

 

[lonelobo]

Price hikes likely added $8.7B to pharma's net income for 2016, report finds

 

[Ducttape]

Hearings on 'sky-high' drug prices show how little has changed in 60 years - CNN

imo, as a sign of their power and might, all of the companies that testified in 1959 are still in existence - Merck, Upjohn, American Home Products aka Wyeth, Schering aka Schering-Pough, Pfizer, Smith-Kline, Bristol-Myers....