3 ms·

Pharmaceuticals

• conanbatt 9y ago
  ding ding ding. These ones take most of the share. It is quite incredible that the U.S., the symbol of freedom, can't freely import drugs from abroad. Considering the rampant use of pharma specially, dropping the costs 1/2 of meds would lower the cost of healthcare overnight by an enormous amount.
  • tmnvix 9y ago
    Yep. An interesting bit of data that highlights just how profitable this industry can be comes from the wikipedia page for McKesson Corporation[1]: > On June 24, 2013, The Wall Street Journal reported that McKesson Chairman and CEO John Hammergren's pension benefits of $159 million had set a record for "the largest pension on file for a current executive of a public company, and almost certainly the largest ever in corporate America." A study in 2012 by GMI Ratings, which tracks executive pay, found that 60% of CEOs at S&P 500 companies have pensions, and their value averages $11.5 million. [1] https://en.wikipedia.org/wiki/McKesson_Corporation https://en.wikipedia.org/wiki/McKesson_Corporation
    • Pokepokalypse 9y ago
      yes, and before anyone says: "but muh R&D funding!" -- these companies generally have marketing budgets that are 2-3 times the R&D budget. (plus, most basic research is public or university funded). "but muh FDA certification costs" - - there are huge tax carve-outs for these. It's not a main driver. And no: marketing is not necessary for these products. TV commercials and other ads to public: not necessary.
      • wu-ikkyu 9y ago
        Also worth noting that the US is 1 of only 2 countries in the world which allows direct advertising of drugs and also is the #1 per capita spender on drugs.
        • conanbatt 9y ago
          Its incredible to me that an ad for prescription drugs can target consumers and pay off. I understand aspirin or over the counter stuff, but "ask your doctor about this drug" pays off? How is that reasonable at all.