Pharma Excesses

ProfG has been telling us how much pharma contributes to Society and the Economics of the society, how else would those professional paper writers and poster makers have jobs:-). 

Therefore we should not rock the boat and let pharma do what it does best.....make loads of money.

However, whilst we should all agree that pharma have a useful roll to play in Society there is an uneasy feeling it is it not simply making money, it is making alot of money and our health is being fleeced by greedy CEO's and Shareholders. 

Yes companies should recoup their R & D costs and more as it is a risky business but the price of drugs have nothing to do with this. 

It is simply how much you can pay.

If you dog takes a drug it costs this much if the same drug is used in cancer it costs that much, in arthritis this and above all multiple sclerosis....Ker-ching

We all know that America pays more for drugs than the rest of the World and for this pleasure they get Pharma companies creating jobs and locating into the States whilst leaving Europe in droves. 

However, you can only gouge so much cash and US polititicans are waking up to pharma excesses.

It is argued the Taxpayer pays twice

"The taxpayer not only shells out at the pharmacy but often plays a critical role in funding these drugs in the first place. In other words, the public pays twice."

Big Pharma, while of course contributing to innovation, has increasingly decommitted itself from the high-risk side of research and development, often letting small biotech companies, universities and the NIH do most of the hard work. Indeed, roughly 75% of so-called new molecular entities with priority rating (the most innovative drugs) trace their existence to NIH funding, while companies spend more on "me too" drugs (slight variations of existing ones.)

"It is well known that Big Pharma spends more on marketing than on R&D

It also spends on making its shareholders rich. Pharmaceutical companies, which have become increasingly "financialized," distribute profits to shareholders through dividends and share buybacks designed to boost stock prices and executive pay".

"Rather than making patient, long-term investments, large shareholders in Big Pharma companies are looking for a quick, easy, guaranteed return".

"As evidence that Big Pharma is spending less on research becomes irrefutable, the pharmaceutical industry has used other excuses to support high prices. It has, for instance, argued that prices are proportionate to the intrinsic value of the drugs".

"The supposed partnership between public and private sectors is increasingly parasitic, hurting innovation and fueling inequality through reduced investment, exorbitant prices for consumers and more money siphoned off for shareholders."

"In exchange for the massive public investment, Big Pharma should be asked to reinvest profits back into R&D rather than giving such a high percentage to shareholders".

"Given that most drugs originated thanks to public funds, the prices of these drugs should.......reflect the taxpayers' contribution".

Pharma will Say....Bugger off as it buys a few more politicians favours with positions on the board and there is no change to Status Quo:-(.  The State used to pay for under-graduate education in the UK and then Pharma would take them into its workforce.

Maybe a shock wave could occur if the public got repurposing onto the agenda and George Osborne will take another beating (This week The House of Lords rebelled against tradition and defeated a Government bill on Tax credits)......will it happen? 

I suspect the fireworks this week will on the 5 November for Bonfire (Guy Fawkes) Night.

Come the 6th of Novemeber I suspect we should be throwing some of our politicians onto one.


However can we get a shock.

Here is what one of our posters commented on

My MP replied to my email, "As many of the Westminster SNP Group as possible will aim to attend and vote in support of this Private Members Bill and we hope that the UK Government will then take it forward. ". 

So  lets hope Braveheart comes to London. 

Hopefully history won't repeat itself, as can be read on a plaque on the wall of Barts Hospital which showed what happened when Wiliam Wallace Came to London in 1305.

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