For the past couple of years, the various pharmaceutical companies around the world have been actively spreading a deceptive story to justify the increasing and exorbitant prices of drugs, vaccines, and other diagnostics. These pharma companies make people believe that everything they produce is something that your body needs, so you have no other recourse but to purchase these items.
Pharmaceutical corporation continue with their sneaky practices that are all about deception so they continue to protect their practices that maximize profits. The myths these dishonorable companies make are at the expense of people’s precious lives. Read on below to find out more about the pharmaceutical industry’s dirty secrets that they hope you will never hear about.
Drug Development and Production is Not as Expensive as Big Pharma Claims
Big pharma is a winner when it comes to hyperbole. They exaggerate the cost of research and development in order to justify their super expensive prices. They even dare to include non R&D expenses under its tab. For instance, a pharma company’s opportunity cost of buying a new company and other non-research related activities are all billed under R&D, so they can show their consumers that the prices of their drugs are rightly priced because of their so-called extensive research efforts.
When a big pharma company says that it costs 2-3 billion dollars to develop a new medicine, in reality, the cost is ten times lower. All these padding in numbers show that big pharmaceutical companies don’t have a conscience. All they care about is how to make money, even if it means they are already fooling you, their precious client.
Big Pharma Ensures You Pay Twice For the Medications You Use
Pharma companies are known to freeload off public research at government funded laboratories. When something is funded by the government, it means the money comes from you, the taxpayer. Most new medicines and health technologies that are released in the market come from the results of these government university labs. What’s even worse is they avail of tax credits and other financial incentives so they can lessen the risk on their own research investments.
This very selfish move is then followed by an even more thick-faced strategy to privatize and patent the resulting products that they make, which never came from their own blood, sweat, and tears. Then, the big pharma companies have the audacity to charge sky high prices to the taxpayers when they release the drugs in the market.
The Big Pharma Industry is Actually Poor When It Comes to Innovation
If you have the power and the expertise to truly examine and analyze all the new drugs that are released in the market right now, you will realize that they are actually no better than the existing products that we already enjoy. Big pharma corporations have the nerve to put in more effort into developing numerous so-called “me-too” drugs that mimic existing drugs. They just merely pretend that they are finding true therapeutic breakthroughs.
Big Pharmas Repetitively Extend Patents to Perpetuate their Monopolies
One of the most notorious and disgusting tactics that pharma companies employ is called patent “evergreening”. Just like the perennial evergreen plant that lasts forever, big pharma corporations are known to make minor tweaks on their existing drugs whose patents are about to expire. In so doing, the big pharma company is able to extend the patent. By repetitively lengthening the patent for many of their products, with these sneaky tactics, they, they prolong their ownership to the production of these drugs.
This means that the big pharma companies perpetuate their monopoly in the industry. Monopoly is the death of competition. With a monopoly in place, this translates to big pharma controlling the price of the drugs. This is one of the reasons why big pharma companies have the nerve to charge sky high prices. These efforts mean that smaller players cannot make generic and more affordable products.
Big Pharma Has the Reputation for Bullying Developing Countries That Go Against Their Corporate Interests
Since time immemorial, big pharma companies have been using oppressive legal action and scary pressure tactics against low and middle income countries. Developing nations like India, the Philippines, South Africa, Thailand, Brazil, Colombia, and Malaysia have been prioritizing their citizen’s health over big pharma companies’ interests. As a result, they are heavily fined and penalized for their efforts.
Together with some more affluent nations, the pharma industry does everything in their power to influence international trade rules and commerce regulations for their own personal benefit. Big pharma doesn’t even care if public health is affected. A prime example of this negligent behavior is the recent Dengvaxia scandal in the Philippines, where big pharma colluded with officials to release this dengue vaccine drug with adverse effects to the market.
You Can Count on Big Pharma to Pocket More Money Than to Re-invest It
Repetitively, many big pharmaceutical big shots have reiterated that they need huge profits in order to pay and fund their expensive R&D programs. However, the real bare naked truth is that they spend more on share buybacks. Doing so allows them to boost their own stock prices this also boosts their sales and marketing efforts but not their research and development efforts.
Big Pharma Claims That They are The Only Solution
Many alternative treatments and naturopathic medicinal approaches are available in the market right now. However, big pharma has invested heavily to ward off these programs because they want you to believe that their medicines are the only cure. Many studies actually indicate that there is now a simple cure for cancer, but since big pharma can charge so much for chemotherapy drugs, they work so hard to oppose all these alternative forms of treatment to the point of filing legal action and banning some naturopathic doctors.
Big pharma has a lot of unscrupulous practices. The next time you take your medicine, don’t be too thankful because you are paying the price for the development of this drug. In a more honest world that is not profit oriented, people will have access to the right medicine that is affordable and contains all the best ingredients. Sadly, we do not live in a perfect world and vested interest still reigns supreme. When your doctor prescribes you a new drug, do yourself a favor and research it to see if there are generic counterparts and to check if the drug is indeed good for you.