Drug companies justify their astronomical prices by claiming they spend a fortune of research and development, which benefits us all. Not true for most, who spend for more on ads. There is no reason that we pay much more for the same drugs except for big pharma’s other expense: lobbying our lawmakers to keep drug prices high. A country in which seniors (and others) are forced to ration their meds is failing us.
Everyone in the country in both parties wants cheaper drugs. Our lawmakers don’t. You figure it out. If you say nothing, nothing will happen.
NATIONAL NURSES UNITED: Research & Development vs. Marketing & Sales – by the numbers…
“Drug companies have made a conscious decision to prioritize their resources in M&S over R&D. Pharmaceutical companies are not required to report the exact amounts that they spend on M&S, but those numbers are reported as a portion of their “Selling, General and Administrative Expenses” (SG&A) in their financial reports. A recent GlobalData study looked at some of the biggest pharmaceutical companies and compared their spending on M&S and R&D7. On average, these 10 companies spent about 80% of their SG&A on M&S.8 This served as the standard for this brief to determine the estimated amount spent on M&S across the country.9 Shockingly, when looking at the top 100 pharmaceutical companies in 2015, only 11 companies spent more on R&D than M&S.”