Big Pharma

Big Pharma is the nickname given to the world’s vast and influential pharmaceutical industry and its trade group, the Pharmaceutical Research and Manufacturers of America or PhRMA. Big Pharma and medical device companies make billions of dollars every year selling drugs and devices — including those that were recalled or involved in fraud or product liability lawsuits. The global revenue for pharmaceuticals was over $1 trillion in 2014. But nowhere else in the world do the drug and medical device industries have as much power and make as much money as in the U.S. In fact, Americans spent an all-time high of $457 billion on prescription drugs in 2015. By 2020, it will be $610 billion. Medical devices are also lucrative. The U.S. makes up about half of the world’s share of the market at about $148 billion, according to the U.S. Department of Commerce.

Meanwhile, drug prices continue to rise. Consulting firm Segal Consulting expects drug prices for Americans under age 65 to rise 11.6 percent in 2017. In contrast, wages are only expected to rise 2.5 percent, leaving many American unable to afford their medications. Big Pharma even contributes heavily to the annual budget of the U.S. Food and Drug Administration (FDA) through application fees (user fees) for its new products. Experts say the industry contributes about two thirds of the FDA’s budget. Five of the top 10 pharma and medical device companies for 2016 are headquartered in the U.S.: Johnson & Johnson, Pfizer, Merck, Gilead and AbbVie.

The underside of the industry reveals a history of fraud, bribery, product liability lawsuits and scandals that led to billions in settlements — a known cost of doing business for these companies who are “too big to jail.” Despite criminal charges and fines, the companies continue to do business. The majority of drugs and medical devices have ties to a small group of parent companies. Prescription drugs and devices manufactured by these companies bring in billions in profits. The biggest drug makers may also have subsidiaries that manufacture medical devices. Pharmaceutical companies are typically larger and make more money than companies that focus on medical devices.

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Chronological History of Big Pharma Corruption

 

Judicial Watch Obtains Records Showing FDA Paid for ‘Fresh and Never Frozen’ Human Fetal Parts for Use In ‘Humanized Mice’ Creation

Judicial Watch Obtains Records Showing FDA Paid for ‘Fresh and Never Frozen’ Human Fetal Parts for Use In ‘Humanized Mice’ Creation

Judicial Watch announced today it received 165 pages of records from the Food and Drug Administration (FDA) showing the FDA between 2012 and 2018 entered into 8 contracts worth $96,370 with Advanced Bioscience Resources (ABR) to acquire “fresh and never frozen” tissue from 1st and 2nd trimester aborted fetuses for use in creating “humanized mice” for ongoing research. ABR is a non-profit firm which has been the subject of criminal referrals from ...
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WHO Official: Asymptomatic Spread of Coronavirus 'Very Rare'

WHO Official: Asymptomatic Spread of Coronavirus ‘Very Rare’

A top World Health Organization (WHO) official on Monday said that it appears “very rare” for an asymptomatic person with the coronavirus to transmit it to another person, a potential bit of good news in the fight against the virus. “From the data we have, it still seems to be rare that an asymptomatic person actually transmits onward to a secondary individual,” said Maria Van Kerkhove, the WHO’s technical ...
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Researchers Retract Botched Anti-Hydroxychloroquine Study Which Was Used To Attack Trump

Researchers Retract Botched Anti-Hydroxychloroquine Study Which Was Used To Attack Trump

An influential study which found anti-malaria drug hydroxychloroquine raised the risk of cardiac issues has been retracted by its three authors. The study, published on May 22 in the UK's prestegious Lancet medical journal, relied on bogus data from a company called Surgisphere, which would not transfer the full dataset for an independent review, and "can no longer vouch for the veracity of the primary data sources." While the ...
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Director General of WHO Severely Overstated the Fatality Rate of the Coronavirus Leading to the Greatest Global Panic in History

Director General of WHO Severely Overstated the Fatality Rate of the Coronavirus Leading to the Greatest Global Panic in History

The controversial Ethiopian politician and Director General of the World Health Organization (WHO), Tedros Adhanom Ghebreyesus, claimed in a press conference in early March that the fatality rate for the coronavirus was many multiples that of the fatality rate of the common flu. This egregiously false premise has led to the greatest panic in world history. The Director General of the WHO spoke on March 3, 2020 and shared ...
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Pharma Founder Gets 66 Months For Bribing Doctors To Overprescribe Deadly Opioids

Pharma Founder Gets 66 Months For Bribing Doctors To Overprescribe Deadly Opioids

Millions of Americans who lived through the financial crisis probably recall that not a single executive of a major investment bank was jailed in the aftermath, despite running organizations seemingly dedicated to perpetuating a criminal fraud on nearly every counterparty and client. But when Americans look back at the opioid crisis, they'll remember that at least one executive of a major opioid manufacturer and distributor was ...
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