Big Pharma: Modern Robber Barons
Check out the July 15th story in the IN THE NEWS section at right.
The diabetes drug Avandia has been allowed to remain on the market even though a large percentage of the medical community believes it raises the risk of heart attacks and should be banned.
The next day, Avandia’s maker, GlaxoSmithKline, announced it had set aside $2.4 billion to settle lawsuits from consumers that believe they suffered harm from the drug.
Business as usual in the gazillion-dollar world of Pharmaceuticals.
Spreading Cash Around Like a Farmer Spreads Manure
Last year, the Pharmaceuticals/Health Products industry spent $267 million on lobbying activities and employed 1,733 lobbyists to deal with 446 clients.
In the 2008 election cycle, folks at Big Pharma gave $29.7 million in political contributions—$14.9 million to Democrats and $14.6 million to Republicans.
Thanks to years of bribing Congress, Big Pharma was permitted to write into the Prescription Drug Plan (Part D) that Medicare could not negotiate lower prices with drug makers. Only the Veteran’s Administration has the right to barter.
So I pay in excess of $1,000 a year for my two prescription pills a day.
That’s where all Big Pharma’s money comes from—the result of rapacious congressmen who, in their frenzy to be reelected, do not give a damn for me or tens of millions like me.
In short, this industry has so much money, it corrupts everything in its path.
How Big Pharma Contaminated TV Network News
Network evening news has devolved into the pharmaceutical industry’s private on-air infirmary. The overwhelming percentage of commercials feature a parade of pusillanimous whining boomers and seniors who can’t pee, poop, get it up, sleep or deal with myriad aches, pains, itchies and other icky bodily symptoms.