Big Pharma officials run the US Food and Drug Administration (FDA), its mandate focused on profit-making over human health and welfare.
Consumer advocate Ralph Nader earlier slammed “unrestrained drug industry havoc.”
Big Pharma “receives billions of dollars in tax credits for doing research and development that it should be doing anyway” — along with billions more in corporate welfare.
The Center for American Progress accused the industry of “reap(ing) profits while hurting everyday Americans.”
Exorbitant prices charged by Big Pharma far exceed their cost in other countries,, including developed ones.
In 2018, Americans spent $535 billion on prescription drugs, a 50% increase since 2010.
In her book titled “The Truth About the Drug Companies,” former New England Journal of Medicine editor Dr. Marcia Angell said the following:
“Only a small fraction of (Big Pharma’s) drugs are truly new. Most are simply ‘me too’ variations on older drugs.”
The industry is “primarily a marketing machine to sell drugs of dubious benefits, using its wealth and power to co-opt every institution that might stand in its way, including the US Congress, the (FDA), academic medical centers, and the medical profession itself.”
According to Katherine Greider in her book titled “The Big Fix: How the Pharmaceutical Industry Rips off American Consumers:”
“Other countries move to control prices and sharply limit advertising” — polar opposite how the US operates, competition not resulting in lower prices for consumers.
Industry analyst Tim Anderson earlier explained that “drug companies…looked at each other and said, ‘(n)one of us needs to compete on price if we just hold the line.’ ”
Despite US federal law requiring that FDA approved drugs must be “safe and effective,” Public Citizen’s Health Research Group revealed otherwise in three earlier books titled:
- “Pills That Don’t Work”
- “Over the Counter Pills That Don’t Work”
- “Worst Pills, Best Pills: A Consumer’s Guide to Avoiding Drug-Induced Death or Illness”
Virtually all drugs have labels that warn of potential side effects that can be hazardous to human health.
Time and again, the FDA approves use of drugs prematurely. An estimated 100,000 American die annually from the toxic side effects of prescription drugs.