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

 

Report: New drug-pricing data shows stunning hikes—one whopping 667% increase

Report: New drug-pricing data shows stunning hikes—one whopping 667% increase

Big Pharma’s business model is working great…for them.  They are racking in billions getting people hooked on their drugs and then hiking the prices up 667% in some cases. According to ARS Technica, new drug-pricing data is showing massive and stunning hikes. One drug’s price has risen by a whopping 667%. This price hike is well over the cost of inflation.  By law, drug makers are ...
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Johnson & Johnson ordered to pay man $8 BILLION over drug causing him to grow breasts

Johnson & Johnson ordered to pay man $8 BILLION over drug causing him to grow breasts

A Philadelphia jury on Tuesday said that Johnson & Johnson (J&J) must pay $8 billion in punitive damages to a man over his claims that a drug manufactured by the US firm caused him to grow breasts. The verdict in favor of Nicholas Murray, 26, came first in one of thousands of Risperdal cases pending in Pennsylvania. Murray, like other male plaintiffs in the mass tort ...
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Antidepressants for Seniors Have Doubled in Two Decades

Antidepressants for Seniors Have Doubled in Two Decades

Depression is common in older adults, occurring in 2% of those aged 55 years and older and rising with increasing age. Many more — from 10% to 15% — struggle with depressive symptoms, although they may not have been diagnosed with major depression.1 That being said, there’s been a major rise in the number of antidepressants being prescribed for older adults over the last two decades, ...
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Study: Vaccines Found to be Deliberately Formulated with Hundreds of Cancer Genes to Ensure Repeat Business for Big Pharma

Study: Vaccines Found to be Deliberately Formulated with Hundreds of Cancer Genes to Ensure Repeat Business for Big Pharma

Groundbreaking research out of Italy has uncovered shocking new details about the aborted human fetal cell lines that are used in many of today’s childhood vaccines. As reported by Children’s Health Defense (CHD), a group known as Corvelva discovered that the original MRC-5 aborted baby cell line from which vaccines are still made today is derived from the entire human genome of an aborted male baby with “abnormal” genes. As it turns ...
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Drugs used as puberty blockers in youth linked to thousands of adult deaths, FDA shows

Drugs used as puberty blockers in youth linked to thousands of adult deaths, FDA shows

Drugs that are being used to halt puberty in gender-confused youth have been linked to thousands of adult deaths, government data show. The Food & Drug Administration has recorded thousands of deaths associated with Lupron, a puberty-blocking drug that is routinely used to treat prostate cancer in men and endometriosis in women. Adverse complications related to its use include breast disorders, malignant neoplasms, and psychiatric and ...
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