Big Pharma

Big Pharma is the nickname given to the world’s vast and influential pharmaceutical industry and its trade group, the Pharmaceutical Research and Manufacturers of America or PhRMA. Big Pharma and medical device companies make billions of dollars every year selling drugs and devices — including those that were recalled or involved in fraud or product liability lawsuits. The global revenue for pharmaceuticals was over $1 trillion in 2014. But nowhere else in the world do the drug and medical device industries have as much power and make as much money as in the U.S. In fact, Americans spent an all-time high of $457 billion on prescription drugs in 2015. By 2020, it will be $610 billion. Medical devices are also lucrative. The U.S. makes up about half of the world’s share of the market at about $148 billion, according to the U.S. Department of Commerce.

Meanwhile, drug prices continue to rise. Consulting firm Segal Consulting expects drug prices for Americans under age 65 to rise 11.6 percent in 2017. In contrast, wages are only expected to rise 2.5 percent, leaving many American unable to afford their medications. Big Pharma even contributes heavily to the annual budget of the U.S. Food and Drug Administration (FDA) through application fees (user fees) for its new products. Experts say the industry contributes about two thirds of the FDA’s budget. Five of the top 10 pharma and medical device companies for 2016 are headquartered in the U.S.: Johnson & Johnson, Pfizer, Merck, Gilead and AbbVie.

The underside of the industry reveals a history of fraud, bribery, product liability lawsuits and scandals that led to billions in settlements — a known cost of doing business for these companies who are “too big to jail.” Despite criminal charges and fines, the companies continue to do business. The majority of drugs and medical devices have ties to a small group of parent companies. Prescription drugs and devices manufactured by these companies bring in billions in profits. The biggest drug makers may also have subsidiaries that manufacture medical devices. Pharmaceutical companies are typically larger and make more money than companies that focus on medical devices.

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Chronological History of Big Pharma Corruption

 

Pharma Founder Gets 66 Months For Bribing Doctors To Overprescribe Deadly Opioids

Pharma Founder Gets 66 Months For Bribing Doctors To Overprescribe Deadly Opioids

Millions of Americans who lived through the financial crisis probably recall that not a single executive of a major investment bank was jailed in the aftermath, despite running organizations seemingly dedicated to perpetuating a criminal fraud on nearly every counterparty and client. But when Americans look back at the opioid crisis, they'll remember that at least one executive of a major opioid manufacturer and distributor was ...
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WikiHow Posts Article Teaching Children How to “Get Vaccinated in Secret” defying“Anti-Vaxxer” Parents

WikiHow Posts Article Teaching Children How to “Get Vaccinated in Secret” defying“Anti-Vaxxer” Parents

The WikiHow website, a hub for how-to information, has joined the other evil tech giants by going all-in with vaccine propaganda that poses a very real danger to the health and safety of children. The site now features a dangerous article that teaches children how to scheme against their own parents and stage fake cover stories to get vaccinated with toxic vaccines that even the U.S ...
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42 Million Babies Aborted in 2019, Now the Leading Worldwide Cause of Death

42 Million Babies Aborted in 2019, Now the Leading Worldwide Cause of Death

According to the tracking service, Worldometers, 42 million abortions were carried out around the world in 2019. For another year, abortion became the leading cause of death in the world. As of December 31, Worldometers recorded 42.4 million abortions, which represented more than half the total number of deaths by every other cause (58.6 million). Lifesite News reported that abortions “dwarfed every individual cause of death, including overall deaths due ...
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Top U.N. Scientist Admits Vaccines Killing People During ‘Vaccine Safety Summit’

Top U.N. Scientist Admits Vaccines Killing People During ‘Vaccine Safety Summit’

A top scientists for the United Nations admitted in leaked video that vaccines are dangerous and are killing some individuals, just days after assuring the public that vaccines were one of the safest tools humanity has. Dr. Soumya Swaminathan, the Chief Scientist of the World Health Organization, admitted that some vaccines are killing people during the WHO Global Vaccine Safety Summit last December in Geneva, Switzerland ...
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Paper: The Oligarch Takeover of US Pharma and Healthcare – And the Resulting Human Crisis

Paper: The Oligarch Takeover of US Pharma and Healthcare – And the Resulting Human Crisis

The United States runs the by far biggest and most bloated healthcare sector in the world when measured as a share of the total economy. Its annual value was $3.7 trillion, amounting to 17.9% of GDP (2018). That is nearly double the average of developed Western countries (as a share of GDP). The enormous expense does not buy Americans any better health than the Europeans get ...
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