Meds cost so much in the US, because drug companies have politicians in thier backpocket, <b>THat's the real fact. </b>
The prices Americans pay for prescription drugs, which are far higher than those paid by citizens of any other developed country. The pharmaceutical industry is - and has been for years - the most profitable of all businesses in the U.S. In the annual Fortune 500 survey, the pharmaceutical industry topped the list of the most profitable industries, with a return of 17% on revenue. And because of extraordinarily generous tax breaks but mostly because of high prices guaranteed by Congress, the U.S. pharmaceutical industry, year in and year out, ranks as the country's richest. Pfizer, which for 2002 reported profits of $9.1 billion on revenue of $32.4 billion, earned a return on revenue of 28%, a rate more than twice that of General Electric, nine times that of Wal-Mart and 31 times that of General Motors.
Yes they spend a lot of money o research and development but the REAL FACT is that pharm companies spends tens of millions on marketing and advertising, thus resulting in higher prices for your medications. no one really knows how the money is spent. Indeed, the industry has refused to open its books to government auditors and once waged a nine-year legal battle with the General Accounting Office (GAO), Congress's investigative arm, to keep the information secret. Congress could subpoena the information but has refused to do so, in no small part because of the power of the pharmaceutical industry lobby. While the industry is quick to claim how much it must spend to come up with new drugs, it is slow to acknowledge the contributions of the Federal Government and American taxpayers. Actually, pharmacutical companies get 36% of their funding from the govt to discover new drugs.
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The real reason</b> the industry does so well in the capital is its potent lobby. It maintains more than 600 lobbyists - more than one for every member of Congress. It spent $435 million to influence Washington from 1996 to 2003 and handed out $57.9 million in contributions from 1991 to 2002, according to Common Cause.
So whoever thinks it's okay to pay more for your meds in the United States, is sadly being fooled and blind.
The prices Americans pay for prescription drugs, which are far higher than those paid by citizens of any other developed country. The pharmaceutical industry is - and has been for years - the most profitable of all businesses in the U.S. In the annual Fortune 500 survey, the pharmaceutical industry topped the list of the most profitable industries, with a return of 17% on revenue. And because of extraordinarily generous tax breaks but mostly because of high prices guaranteed by Congress, the U.S. pharmaceutical industry, year in and year out, ranks as the country's richest. Pfizer, which for 2002 reported profits of $9.1 billion on revenue of $32.4 billion, earned a return on revenue of 28%, a rate more than twice that of General Electric, nine times that of Wal-Mart and 31 times that of General Motors.
Yes they spend a lot of money o research and development but the REAL FACT is that pharm companies spends tens of millions on marketing and advertising, thus resulting in higher prices for your medications. no one really knows how the money is spent. Indeed, the industry has refused to open its books to government auditors and once waged a nine-year legal battle with the General Accounting Office (GAO), Congress's investigative arm, to keep the information secret. Congress could subpoena the information but has refused to do so, in no small part because of the power of the pharmaceutical industry lobby. While the industry is quick to claim how much it must spend to come up with new drugs, it is slow to acknowledge the contributions of the Federal Government and American taxpayers. Actually, pharmacutical companies get 36% of their funding from the govt to discover new drugs.
<b>
The real reason</b> the industry does so well in the capital is its potent lobby. It maintains more than 600 lobbyists - more than one for every member of Congress. It spent $435 million to influence Washington from 1996 to 2003 and handed out $57.9 million in contributions from 1991 to 2002, according to Common Cause.
So whoever thinks it's okay to pay more for your meds in the United States, is sadly being fooled and blind.