Just how bad is the pharmaceutical companies? Does government need state run pharmaceutical companies?

[nec209]

The pharma industry is responsible for the pricing of so-called “niche” generic drugs, whose suppliers exploit weak competition and regulation to hike prices

On top of this you have evergreening whereby pharma drugs continually have their patents renewed due to small formula changes etc, and the vast majority of drugs fall in to this category.

The pharma industry is not really that interested in doing that much research in to rare types of cancer which are not going to create much drug sales, and if they do put money in to research it will usually only in relation to where they think the most profit can be generated.

In reality many pharma companies spend more on advertising than they do on research, and in reality a lot of the specialist cancer research is the remit of medical research money awarded via the Government, Charities and Academic Institutions, although some times a pharma or bio-tech company may become a research partner in the off chance that they can reap any rewards, whilst some research institutions have created their own bio-tech research spin off companies.

The same is true in relation to research, which is often not shared, and can lead to a lot of money wasted on duplication, and in terms of pharma companies they are obviously not going to share much with other rival companies or reveal a lot of their research full stop.

[exchemist]

1 hour ago, nec209 said:

The pharma industry is responsible for the pricing of so-called “niche” generic drugs, whose suppliers exploit weak competition and regulation to hike prices

On top of this you have evergreening whereby pharma drugs continually have their patents renewed due to small formula changes etc, and the vast majority of drugs fall in to this category.

The pharma industry is not really that interested in doing that much research in to rare types of cancer which are not going to create much drug sales, and if they do put money in to research it will usually only in relation to where they think the most profit can be generated.

In reality many pharma companies spend more on advertising than they do on research, and in reality a lot of the specialist cancer research is the remit of medical research money awarded via the Government, Charities and Academic Institutions, although some times a pharma or bio-tech company may become a research partner in the off chance that they can reap any rewards, whilst some research institutions have created their own bio-tech research spin off companies.

The same is true in relation to research, which is often not shared, and can lead to a lot of money wasted on duplication, and in terms of pharma companies they are obviously not going to share much with other rival companies or reveal a lot of their research full stop.

On the other hand, they have produced a lot of very useful drugs. 

Obviously they are driven by the profit motive, so they will pick and choose what areas to research, which is why we can’t rely on them for all the drug research we need. But they do quite a lot of it.

[swansont]

3 hours ago, nec209 said:

In reality many pharma companies spend more on advertising than they do on research

Citation needed

3 hours ago, nec209 said:

The same is true in relation to research, which is often not shared

True for most for-profit research

Quote

The pharma industry is responsible for the pricing of so-called “niche” generic drugs, whose suppliers exploit weak competition and regulation to hike prices

Generics are generally much cheaper than the patented drugs were before the patent expired.

[nec209]

In 2009 Pfizer plead guilty to misbranding a drug with intent to defraud or mislead, bribing doctors and suppressing adverse trial results. Pfizer was required to pay a settlement of $2.3 Billion to the Department of Justice, the 2nd largest healthcare fraud settlement in the history of the Department of Justice.

Pfizer has paid over $10 billion in settlements for offenses like unapproved promotion of medical products, equipment safety and environmental violation, false claim and foreign corrupt practices.

Scott Gottlieb is a former FDA Commissioner and is currently a board member for Pfizer. In the past 40 years, 9 of the 10 FDA Commissioners have worked for pharmaceutical companies after leaving the FDA.

Reuter is the company responsible for the fact checking on Twitter and Facebook. Jim Smith is the Chairman of Reuters Foundation and also a board member for Pfizer.

The only FDA approved treatment for covid is Remdesiver. Pfizer has an agreement with Gilead, the owners of Remdesiver to manufacture the drug.

Pfizer makes large contributions to mainstream media outlets like CNN, ABC, CBS and NBC.  Everything I’ve just stated is 100% factual and can be easily verified via a quick google search or links provided below 👇

https://www.cincinnatieye.com/about-cei/clinical-research/who-pays-for-clinical-trials/

https://www.theguardian.com/science/2011/may/20/drug-companies-ghost-writing-journalism

https://www.justice.gov/opa/pr/justice-department-announces-largest-health-care-fraud-settlement-its-history

https://violationtracker.goodjobsfirst.org/parent/pfizer

https://www.usatoday.com/story/news/politics/2019/07/03/elizabeth-warren-tells-scott-gottlieb-resign-pfizer-board/1637789001/

https://www.google.com/amp/s/qz.com/1656529/yet-another-fda-commissioner-joins-the-pharmaceutical-industry/amp/

https://www.reuters.com/article/business/reuters-launches-fact-checking-initiative-to-identify-misinformation-in-partner-idUSKBN2061SO/

https://www.weforum.org/people/james-c-smith/

https://www.pfizer.com/people/leadership/board_of_directors/james_smith

https://www.science.org/content/article/very-very-bad-look-remdesivir-first-fda-approved-covid-19-drug

https://www.pfizer.com/news/press-release/press-release-detail/pfizer-announces-agreement-gilead-manufacture-remdesivir

https://www.realclearpolitics.com/video/2021/10/19/montage_pfizer_sponsors_news_abc_cbs_nbc_cnn.html

[exchemist]

57 minutes ago, nec209 said:

In 2009 Pfizer plead guilty to misbranding a drug with intent to defraud or mislead, bribing doctors and suppressing adverse trial results. Pfizer was required to pay a settlement of $2.3 Billion to the Department of Justice, the 2nd largest healthcare fraud settlement in the history of the Department of Justice.

Pfizer has paid over $10 billion in settlements for offenses like unapproved promotion of medical products, equipment safety and environmental violation, false claim and foreign corrupt practices.

Scott Gottlieb is a former FDA Commissioner and is currently a board member for Pfizer. In the past 40 years, 9 of the 10 FDA Commissioners have worked for pharmaceutical companies after leaving the FDA.

Reuter is the company responsible for the fact checking on Twitter and Facebook. Jim Smith is the Chairman of Reuters Foundation and also a board member for Pfizer.

The only FDA approved treatment for covid is Remdesiver. Pfizer has an agreement with Gilead, the owners of Remdesiver to manufacture the drug.

Pfizer makes large contributions to mainstream media outlets like CNN, ABC, CBS and NBC.  Everything I’ve just stated is 100% factual and can be easily verified via a quick google search or links provided below 👇

https://www.cincinnatieye.com/about-cei/clinical-research/who-pays-for-clinical-trials/

https://www.theguardian.com/science/2011/may/20/drug-companies-ghost-writing-journalism

https://www.justice.gov/opa/pr/justice-department-announces-largest-health-care-fraud-settlement-its-history

https://violationtracker.goodjobsfirst.org/parent/pfizer

https://www.usatoday.com/story/news/politics/2019/07/03/elizabeth-warren-tells-scott-gottlieb-resign-pfizer-board/1637789001/

https://www.google.com/amp/s/qz.com/1656529/yet-another-fda-commissioner-joins-the-pharmaceutical-industry/amp/

https://www.reuters.com/article/business/reuters-launches-fact-checking-initiative-to-identify-misinformation-in-partner-idUSKBN2061SO/

https://www.weforum.org/people/james-c-smith/

https://www.pfizer.com/people/leadership/board_of_directors/james_smith

https://www.science.org/content/article/very-very-bad-look-remdesivir-first-fda-approved-covid-19-drug

https://www.pfizer.com/news/press-release/press-release-detail/pfizer-announces-agreement-gilead-manufacture-remdesivir

https://www.realclearpolitics.com/video/2021/10/19/montage_pfizer_sponsors_news_abc_cbs_nbc_cnn.html

What is your point? Pfizer makes a lot of very useful drugs, including the Covid vaccine I have received several doses of. Do you want the company wound up, or what? 

[swansont]

“Citation needed” should not be ignored. It’s a reasonable request that you support a claim, and failure to do so makes your post soapboxing. 

There’s a conversation to be had about the pros and cons of profit-driven research, but griping is not going to work.