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The Shocking Truth Why Prescription Drug Prices Are So High

22 Jul: The Shocking Truth Why Prescription Drug Prices Are So High

It’s no secret that prescription drug prices are at an all-time high. Americans are spending just under $1,000 each year for prescription drugs. Listed below are the top five real reasons why these drugs cost Americans so much. You’re paying for all of the drugs in America. You’re paying for all of the drugs in the world. You’re paying for expensive marketing and advertising campaigns. You’re paying for somebody’s fat corporate bonus. You’re paying taxes on it too! 1.) You’re paying for all of the drugs in America. Unfortunately, it’s impossible to just pay for one prescription. The cost of prescription drugs falls on everybody’s shoulders. Drug development is a vast and wide-reaching business. Drug prices cover research and development…

11 Aug: Drug ads to be banned? Keep dreaming

As those following the healthcare debate are aware, President Obama has backed off his campaign promises to legalize drug reimportation and require drug companies to negotiate drug prices with Medicare. Apparently deciding that healthcare reform would be defeated if he had to fight both Big Insurance and Big Pharma, he has decided to let Big Pharma off the hook. Now, “healthcare reform” has become “health insurance reform” in the president’s speeches. Millions of Americans, as well as many in Congress, are frustrated by this decision. And perhaps this frustration is behind current efforts in Congress to ban pharma ads directed at consumers. Let me play prognosticator for a moment: It’s not going to happen. Believe me, I would like to…

06 Jan: Big Pharma spends twice as much on advertising as on R&D

From ScienceDaily: A new study by two York University researchers estimates the U.S. pharmaceutical industry spends almost twice as much on promotion as it does on research and development, contrary to the industry’s claim. The researchers’ estimate is based on the systematic collection of data directly from the industry and doctors during 2004, which shows the U.S. pharmaceutical industry spent 24.4% of the sales dollar on promotion, versus 13.4% for research and development, as a percentage of US domestic sales of US$235.4 billion. What most Americans don’t realize — because we have such short memories — is that not so long ago, the kind of wall-to-wall Big Pharma advertising that is commonplace today did not exist. It was regulated. Can…

09 Dec: Bring out your meds: flu season is here

Wolfgang Niesielski at the Contra Costa Times rings in flu season (and its commercialization) with this humor column. Excerpt: HOW CAN YOU not be aware that the flu season is now “officially” open? Actually, unofficially, it started toward the end of the summer vacation when the allergy season was at a wane. Now you notice someone coughing, sneezing and feeling miserable in every second TV commercial (this combined with the allergy season, means that there is always someone coughing, sneezing and feeling miserable throughout the entire year). Turn on the TV, and instead of watching the family happily frolicking in green meadows and colorful flower gardens after ingesting the particular product that financed the commercial, you observe the wise, tough-as-nails…

27 Sep: Welcome, doctors!

eMarketer reports: Pharmaceutical sites aimed at consumers are drawing as many as 20% to 30% of their visits from physicians, according to Manhattan Research. Manhattan Research CEO Mark Bard told eMarketer that some of that traffic has been out of necessity. Online marketing to physicians has not been as widespread as direct-to-consumer marketing, and product information sites are just now being supplemented by other features like search.

17 Aug: Drug ad spending up 330 percent since 1996

Since the rule change in 1996 that allowed Big Pharma to begin advertising directly to consumers, drug advertising budgets have exploded — while policing of such ads for accuracy has steadily declined, according to a study in the New England Journal of Medicine. The thing I find most troubling about the report is that even though we have far more drug commercials now than in 1996, fewer drug companies have been reprimanded for their ads. In 1996, 142 warning letters were sent out by the FDA. Last year, there were only 21. Either the drug companies are making flawless ads, or someone isn’t doing their job. Which do you think it is?