Pharmaceutical Corruption News Articles
Below are key excerpts of revealing news articles on pharmaceutical industry corruption from reliable news media sources. If any link fails to function, a paywall blocks full access, or the article is no longer available, try these digital tools.
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The cost of vaccinating the world against COVID-19 could be at least five times cheaper if pharmaceutical companies weren’t profiteering from their monopolies on COVID-19 vaccines, campaigners from The People’s Vaccine Alliance said today. New analysis by the Alliance shows that the firms Pfizer/BioNTech and Moderna are charging governments as much as $41 billion above the estimated cost of production. Colombia, for example, has potentially overpaid by as much as $375 million for its doses of the Pfizer/BioNTech and Moderna vaccines, in comparison to the estimated cost price. Despite a rapid rise in COVID cases and deaths across the developing world, Pfizer/BioNTech and Moderna have sold over 90 percent of their vaccines so far to rich countries, charging up to 24 times the potential cost of production. Neither company have agreed to fully transfer vaccine technology and know-how with any capable producers in developing countries, a move that could increase global supply, drive down prices and save millions of lives. Analysis of production techniques for the leading mRNA type vaccines produced by Pfizer/BioNTech and Moderna which were only developed thanks to public funding to the tune of $8.3 billion suggest these vaccines could be made for as little as $1.20 a dose. Yet COVAX, the scheme set up to help countries get access to COVID vaccines, has been paying, on average, nearly five times more.
Note: For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma profiteering and coronavirus vaccines from reliable major media sources.
Two former Merck & Co Inc scientists accusing the drugmaker of falsifying tests of its exclusive mumps vaccine said in a court filing on Monday that Merck is refusing to respond to questions about the efficacy of the vaccine. Attorneys at Constantine Cannon, who represent the scientists, asked U.S. Magistrate Judge Lynne Sitarski of the Eastern District of Pennsylvania to compel Merck to respond to their discovery request, which asks the company to give the efficacy of the vaccine as a percentage. Instead of answering the question ... Merck has been consistently evasive, using cut-and-paste answers saying it cannot run a new clinical trial to determine the current efficacy, and providing only data from 50 years ago. The two scientists, Stephen Krahling and Joan Wlochowski, filed their whistleblower lawsuit in 2010 claiming Merck, the only company licensed by the Food and Drug Administration to sell a mumps vaccine in the United States, skewed tests of the vaccine by adding animal antibodies to blood samples. As a result, they said, Merck was able to produce test results showing that the vaccine was 95 percent effective, even though more accurate tests would have shown a lower success rate. The plaintiffs said these false results kept competitors from trying to produce their own mumps vaccines, since they were unable to match the effectiveness Merck claimed. The case is United States ex rel Krahling et al v. Merck & Co Inc, U.S. District Court, Eastern District of Pennsylvania, No. 10-4374.
Note: Why didn't this get reported widely? A search reveals no major media other than Reuters and WSJ covered this. This article in a local paper states the two whistleblowers were threatened by Merck with jail if they went public with this. It also says all students in a Syracuse University mumps outbreak had been properly vaccinated. This excellent article gives a 2019 update and reveals how the vaccines caused injury in a very high percentage of cases. For more, see concise summaries of deeply revealing news articles on vaccines from reliable major media sources.
Pfizer expects to sell $15 billion worth of Covid-19 vaccines in 2021. That would make it the second-highest revenue-generating drug anytime, anywhere, according to industry reports. The maker of the first Covid-19 vaccine to be approved for use in advanced markets has released its earning forecasts for 2021 today. Pfizer expects to earn between $59 billion and $61 billion - up from $42 billion it made in 2020. Sales of the vaccine are set to bring in about a fourth of Pfizer's total revenue this year. That would be nearly as much as its three best-selling products combined. The company is expecting profit margins for the vaccine to be between 25% and 30% which means profits from the vaccine could be around $4 billion. All of Pfizer's costs and profits from the vaccine are split evenly with BioNTech, the biotech company that helped develop the treatment. There are is only one drug in the world that sells more - Humira, a prescription medication for arthritis. Pfizer plans on selling 2 billion doses of the vaccine this year, but that demand should subside in coming years so the revenue of Covid-19 vaccine won't be stable, Pfizer's CEO Albert Bourla said on an call with analysts and investors. The company expects to continue profiting from it by selling booster doses, including ones required to shield against new variants of the virus, Bourla said. Further, Pfizer is pursuing more avenues to employ the mRNA technology underlying the vaccine, including a flu vaccine and other therapeutic applications.
Note: Read more in this revealing Reuters article. For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines and Big Pharma profiteering from reliable major media sources.
Pharmaceutical companies are under the spotlight with congressional hearings on the cost of drug prices and allegations of the industrys role in the opioid crisis. Dr. Raeford Brown, a pediatric anesthesia specialist ... and chair of the Food and Drug Administration (FDA) Committee on Analgesics and Anesthetics, has been openly critical of big pharma and the lack of proper oversight from the FDA. Despite many politicians, particularly declared presidential candidates, beginning to speak out against big pharma, Brown does not think that anything will come out of it because Congress is owned by pharma. The pharmaceutical industry pours millions of dollars into the legislative branch every single year, he [said]. In 2016, they put $100 million into the elections. Thats a ton of money. OpenSecrets, a website operated by the nonpartisan Center for Responsive Politics, tracks money in U.S. politics. It ranked the top 20 members of the House and the Senate that have received the most campaign contributions from the pharmaceutical and health products industry. Kevin McCarthy, now the House minority leader after midterms, received ... a total of $380,350 in campaign contributions, with a large sum coming from pharma companies. Congress is supposed to have oversight for the FDA, Brown said. If the FDA isnt going to hold pharma accountable, and Congress is getting paid to not hold pharma accountable, then it really doesnt matter who the president is because its really about Congress.
Note: Learn more on how big Pharma controls politicians in this very well researched video. For more along these lines, see concise summaries of deeply revealing news articles on government corruption and Big Pharma profiteering from reliable major media sources.
Ask people to name Pfizer’s best-selling product and many would opt for one of its most famous drugs: Viagra, for erectile dysfunction, or Lipitor, to reduce high cholesterol. But they would all be wrong. The top-seller is not a drug but a vaccine: Prevnar, which prevents pneumonia, meningitis and other infections caused by pneumococcus bacteria. Prevnar generated revenues of $6.25bn last year — almost three times as much as Viagra. This was up 40 per cent from the year before, after the expert panel that advises on US vaccine policy recommended its use in over-65s as well as in children. Pfizer is one of just four pharma groups with large vaccines operations. The others are GlaxoSmithKline of the UK, Sanofi of France and Merck of the US. All four reported stronger sales growth in vaccines than in pharmaceuticals last year and operating margins were comparable with pharma at around 25-30 per cent. Pricing remains a sensitive topic, however, especially in the developing world. Médecins Sans Frontières, the health charity, last month launched a challenge against Pfizer’s patent on Prevnar in a bid to allow Indian companies to produce the vaccine cheaper. Manica Balasegaram, executive director of the MSF Access Campaign, says it could be produced in India for $6 per child, compared with Pfizer’s reduced $10 price. Critics argue that consolidation in the industry has left too few companies, developing too few vaccines — and that those that do exist tend to be aimed at rich countries.
Note: Read this eye-opening article showing how powerful financial interests control the public narrative about vaccines. For more along these lines, see concise summaries of deeply revealing news articles on vaccines from reliable major media sources.
British people are [asking]: What is the deal with all of these medicine ads in the U.S.? England doesn't allow commercials for prescription drugs. While there are ads for over-the-counter drugs in most of the world, the U.S. and New Zealand are the only two countries that allow drug companies to advertise prescription drugs directly to consumers. Commercials for prescription drugs do not exist in Europe or South America or Asia or Africa or Mexico or Australia, just in the U.S. and New Zealand, which is a much smaller market. It wasn't too long ago that TV in the U.S. was like the rest of the world, completely free of prescription drug ads. The '60s, the '70s, most of the '80s, there are no ads like this. By the '80s, though, ... drug companies started saying, we don't want to advertise our drugs just to doctors and pharmacists anymore. We want to market our drugs directly to consumers. The FDA was worried about how commercials would impact demand for drugs - misuse, overuse, all kinds of things. But there were compelling reasons to go directly to consumers. So in 1981, the first direct-to-consumer ad runs in print in Reader's Digest. The FDA [decided television] commercials need to say, out loud, the major risks of a drug. You just had to include the major risks of a drug, along with places where consumers could get more information about the drug, like a phone number or a website or a recommendation just to talk to your doctor. And this is what really opens the TV ad floodgates.
Note: The pharmaceutical industry provides 75% of television advertising revenue in the US. So how likely are TV stations to carry stories that reveal problems with drugs or corruption in the industry? For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma profiteering from reliable major media sources.
In the coming months, Linda Thomas-Greenfield, President Joe Biden's ambassador to the United Nations, will hear from a growing chorus of developing nations about the foundering efforts to distribute the coronavirus vaccine globally. The nations, many of which have not even begun vaccinating their populations, are demanding that the U.S. support proposals to temporarily waive certain patent and intellectual property rights so that generic coronavirus vaccines can be produced. The proposals have been fiercely opposed by American drugmakers, including Pfizer. ASG ... represents Pfizer. Many leading figures in Biden's administration, including key White House advisers, State Department leaders, and health care officials have financial stake in or professional ties to vaccine manufacturers, which are now lobbying to prevent policies that would cut into future profits over the vaccine. ASG in particular has unusual amounts of sway in the Biden administration. State Department officials Victoria Nuland, Wendy Sherman, Uzra Zeya, and Molly Montgomery previously worked at ASG, as did Philip Gordon, Vice President Kamala Harris's national security adviser. The pharmaceutical industry, in a bid to shield an expected financial windfall, has pressed the Biden administration not only to oppose the waiver, but also to impose trade-related sanctions on countries that back [a] proposal or move to manufacture coronavirus vaccines without permission from patent holders.
Note: For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines and Big Pharma corruption from reliable major media sources.
Drug company Hoffmann-La Roche ... bilked U.S. federal and state governments out of $1.5 billion by misrepresenting clinical studies and falsely claiming that its well-known influenza medicine Tamiflu was effective at containing potential pandemics, according to a recently unsealed whistleblower lawsuit. The lawsuit claims the drugmaker's scheme involved publishing misleading articles falsely stating that Tamiflu reduces complications, severity, hospitalizations, mortality and transmission of influenza. The company then used those articles to aggressively market the drug to the government for pandemic use. Relying on the supposed truthfulness of Roche's claims, federal and state governments spent about $1.5 billion to stockpile Tamiflu to combat influenza pandemics, according to the complaint. The lawsuit brings claims under the False Claims Act, which allows individuals to bring claims on behalf of the government. Whistleblower Dr. Thomas Jefferson, a physician and public health researcher affiliated with the respected global Cochrane Collaboration research network, has researched neuraminidase inhibitors like Tamiflu for more than two decades. He began questioning Tamiflu's efficacy in 2009 and spearheaded efforts to have the company release the underlying clinical study data. When he finally received the data in 2013, Dr. Jefferson analyzed it and concluded that the clinical data does not support Roche's claims about Tamiflu's effectiveness for use in an influenza pandemic.
Note: Though the major media is ignoring this major allegation, it was reported on the website of the highly respected British Medical Journal. Note also that Former U.S. Sect. of Defense Donald Rumsfeld made $5 million from the sales of Tamiflu. More details are available here. For more along these lines, see concise summaries of deeply revealing news articles on pharmaceutical industry corruption from reliable major media sources.
Americans are taking more medications than ever before. Nearly 60 to 70 percent of us take at least one prescribed drug. Meanwhile, new drug approvals have reached a 19-year high. There’s no formal process for quantifying injuries, hospitalizations or even deaths caused by therapeutic drug use – which excludes overdose or misuse. “Risk management begins with measuring things accurately, so you know what the threats are and the ones where you should be paying attention,” says Thomas J. Moore ... at the Institute for Safe Medication Practices. But he notes that there’s no system in place or accepted methodology for developing these tallies for prescription drugs, unlike with overdoses. Health providers and consumers are encouraged to report adverse drug reactions to the Food and Drug Administration. But the FDA says it’s unable to use the incomplete adverse event reporting data to quantify overall deaths that result from therapeutic drug use. A ... recent analysis estimates 128,000 Americans die each year as a result of taking medications as prescribed. “By far the greatest number of [prescription drug-related] hospitalizations and deaths occur from drugs that are prescribed properly by physicians and taken as directed,” says Donald Light ... lead author of a 2013 paper that detailed the estimate, entitled “Institutional Corruption of Pharmaceuticals and the Myth of Safe and Effective Drugs.” “About 2,460 people per week are estimated to die from drugs that were properly prescribed,” says Light.
Note: According to some studies, medical errors including adverse drug reactions may be the third leading cause of death in the US. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.
In the pages of The BMJ a decade ago, in the middle of a different pandemic, it came to light that governments around the world had spent billions stockpiling antivirals for influenza that had not been shown to reduce the risk of complications, hospital admissions, or death. The errors of the last pandemic are being repeated. Memories are short. Today, despite the global rollout of covid-19 vaccines and treatments, [the] data underlying the trials for these new products remain inaccessible to doctors, researchers, and the public—and are likely to remain that way for years to come. This is morally indefensible for all trials, but especially for those involving major public health interventions. Pfizer’s pivotal covid vaccine trial was funded by the company and designed, run, analysed, and authored by Pfizer employees. The company and the contract research organisations that carried out the trial hold all the data. And Pfizer has indicated that it will not begin entertaining requests for trial data until May 2025, 24 months after the primary study completion date. The lack of access to data is consistent across vaccine manufacturers. Regulators and public health bodies could release details such as why vaccine trials were not designed to test efficacy against infection and spread of SARS-CoV-2. Had regulators insisted on this outcome, countries would have learnt sooner about the effect of vaccines on transmission and been able to plan accordingly.
Note: For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines from reliable major media sources.
Pfizer chairman Albert Bourla told NBC’s Dateline host Lester Holt that the pharmaceutical company was “not certain” if the vaccine prevented the coronavirus from being transmitted, saying: “This is something that needs to be examined.” In a prime-time special titled “Race for a Vaccine” ... Holt questioned Bourla and other individuals involved in the development and distribution of the vaccine. In November, Pfizer announced that its vaccine candidate had been shown to be more than 90% effective at preventing COVID-19 and has applied for emergency use authorization from the Food and Drug Administration (FDA). The U.K. became the first country to approve Pfizer’s vaccine this week with the first round of immunizations expected to roll out next week. In August, Canada signed a deal with Pfizer for 20 million doses of the vaccine. In a list of interview highlights released before the special, Holt asked Bourla: “Even though I’ve had the protection, am I still able to transmit it to other people?” “I think this is something that needs to be examined. We are not certain about that right now with what we know,” Bourla responded.
Note: An MSN article reported that a 41-year-old Portuguese health worker died two days after getting the Pfizer vaccine, but then removed the article. Learn more about this death in this article. A Florida doctor also died after receiving the vaccine. This CDC report states “December 14–23, 2020, monitoring … detected 21 cases of anaphylaxis after administration of a reported 1,893,360 first doses of the Pfizer-BioNTech COVID-19 vaccine.” For more, explore the excellent, reliable resources provided in our Coronavirus Information Center.
If you’ve ever found yourself absentmindedly humming the “oh-oh-oh-Ozempic” jingle, you have David Paton to blame. The singer-songwriter ... co-wrote “Magic” — the 1975 hit for his band Pilot that he reworked and sang for the trendy weight-loss drug’s TV commercials, which play incessantly. “I have heard from doctors about patients not remembering the names of drugs but singing the songs,” a former product manager for drug companies that include Merck and Pfizer, [said]. It can cost billions of dollars to develop a pharmaceutical, so promoting it is essential. And that all starts with the name. “We try to craft a name that [has] five to nine letters and two to four syllables.” But it even comes down to the exact letters. “Let’s say there is an oral drug instead of an injectable, we’ll explore something that sounds liquidy or has an O in it,” Fernando Fernandez, managing director of BX: Brand Experience Design Group, [said]. “If we expect a product to have an extra level of efficacy, we might put an X in the name.” Consumers like taking drugs with the letter Z, which may have played a role in the naming of Ozempic and Zepbound. According to the Canadian Medical Journal, the letters X, Y and Z all impart a “high tech, sciency” [sic] feeling to drugs such as the sleeping medication Xanax. “People have hesitancy about taking drugs,” a medical advertising veteran told The Post. “If they don’t have diabetes, they wonder why they are taking a diabetes drug to lose weight. The weight-loss drug has to be called something different, even though it is very close to being the same thing. The name Wegovy is playful and memorable and obviously works.”
Note: The money behind the makers of weight-loss drugs is staggering, while concerns grow about the significant adverse effects of these drugs. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma profiteering from reliable major media sources.
Drugmaker Novo Nordisk paid U.S. medical professionals at least $25.8 million over a decade in fees and expenses related to its weight-loss drugs [Wegovy and Saxenda], a Reuters analysis found. It concentrated that money on an elite group of obesity specialists who advocate giving its powerful and expensive drugs to tens of millions of Americans. Those payments are part of a campaign to convince U.S. doctors to make Wegovy one of the most widely prescribed drugs in history – and to persuade skeptical insurers to pay for it. Overall, at least 57 U.S. physicians each accepted at least $100,000 from Novo in payments associated with Wegovy or Saxenda. They were an influential group: Forty-one were obesity specialists who run weight-management clinics, work at academic hospitals, write obesity-treatment guidelines or hold top positions at medical societies, according to a Reuters review. "As sales grow, Medicare and the insurance industry come under intense pressure to pay for these hugely expensive drugs,” [Former dean of the US military's medical school Dr. Arthur] Kellermann said. “The end result is that everybody's healthcare costs go up.” U.S. and European regulators are studying whether GLP-1 drugs can cause suicidal thoughts. Reuters reported in September that at least 265 reports have been filed with the FDA since 2010 describing suicidal ideation or behavior in patients taking these drugs. Thirty-six reports described a death by suicide or suspected suicide.
Note: The money behind these obesity drug makers is staggering. The economic value of Novo Nordisk soared to over $420 billion, which exceeds the entire GDP of Denmark, its home country. As Lee Fang reports in this investigative piece on the issue, “The company is growing so fast, bringing in so many American dollars, that the Danish central bank recently devalued its currency to keep it in line with the euro.” For more along these lines, read the growing reports of concerning adverse side effects from these weight-loss drugs.
Pfizer-BioNTech delayed reporting vaccine-associated deaths among BNT162b2 clinical trial participants until after the U.S. Food and Drug Administration (FDA) issued an Emergency Use Authorization (EUA) for the product. The vaccine makers also failed to account for a large number of subjects who dropped out of the trial. Together, these strategies kept regulators and the public ignorant of a 3.7-fold increase in cardiac deaths among subjects who received the vaccine, according to analysis in the International Journal of Vaccine Theory, Practice, and Research. Investigators looked at each of the 38 deaths occurring between July 27, 2020, the start of phase 2/3 of the Pfizer-BioNTech vaccine trial, and March 13, 2021, the end date culminating in Pfizer-BioNTech’s 6-month interim report. This trial phase involved 44,060 subjects. Half received a dose of BNT162b2, half got a placebo. The trial was unusual because at week 20 after the FDA issued the EUA for the vaccine, trial subjects in the placebo group were allowed to switch to the vaccinated group and receive their first BNT162b2 shot. Of 20,794 unblinded placebo subjects in the Pfizer trial, 19,685 received at least one dose of BNT162b2. After 33 weeks the data revealed no significant difference between deaths in the vaccinated and placebo groups for the initial 20-week placebo-controlled portion of the trial. 79% of relevant deaths were not recorded in time to be included in Pfizer’s regulatory paperwork.
Note: Read our recent essay on Big Pharma corruption to further explore the significant harms associated with the COVID vaccine. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption and coronavirus vaccines from reliable major media sources.
The Food and Drug Administration is now regularly approving new drugs after just one or two clinical trials — a significant departure from the more rigorous vetting process the agency was previously known for, newly published research reveals. Furthermore, the authors say, there’s now less information available to the public about the results of all trials. Of the 37 drugs approved by the FDA last year, 24 (about 65%) were approved based on just one study, according to a paper published in JAMA Network Open. Only four of those 37 drugs, or about 11%, reported three or more studies before approval. Another piece of new research, published in Health Affairs Scholar, found that of the 46 new drugs approved in 2017, 19 of them (41%) were approved based on a single study — though the drugmakers conducted an average of 2.2 studies per drug, including 165 studies for the popular weight-loss drug Ozempic. The ease with which novel drugs are approved is in part the result of the 21st Century Cures Act, passed in 2016 to speed the approval of new medicines so patients could gain access to life-saving treatments. As part of that law, the FDA relaxed some standards to allow treatments for priority health conditions such as cancer to be approved with fewer supporting studies, and with less emphasis on randomized clinical trials. But in the years following the passage of the 21st Century Cures Act, the FDA has faced a firestorm of criticism over the approval process for some new drugs.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and Big Pharma profiteering from reliable major media sources.
A little-known federal agency called BARDA dedicated to countering "health security threats" was responsible for conducting the quality review of every COVID-19 vaccine dose administered in the U.S., Sasha Latypova reported on her Substack. But BARDA, the Biomedical Advanced Research and Development Authority, which has a "militarized" purpose according to Latypova, is not subject to the same regulations as typical pharmaceutical manufacturers, distributors or regulatory agencies. "The public was told these vaccines are made by Pfizer and Moderna and rigorously approved by the FDA," [said Latypova]. That ... would mean that the "consumer protections we expect from pharmaceutical products, medical devices and even food ... we expect them to be in place." But in fact, countermeasures contracts made available through Freedom of Information Act (FOIA) requests ... and U.S. Securities and Exchange Commission disclosures show the U.S. Department of Defense (DOD) and BARDA contracts with the pharmaceutical companies were structured such that these protections weren't required. The contracts also specified that manufacturers and federal agencies were protected by the Public Readiness and Emergency Preparedness (PREP) Act, which shields "covered persons" – such as pharmaceutical companies, or the DOD/BARDA – from liability for injuries sustained from "countermeasures," such as vaccines ... administered during a public health emergency.
Note: Sasha Latypova is a former pharmaceutical industry executive who now specializes in uncovering fraud in pharmaceutical research, development, and manufacturing. For more along these lines, see concise summaries of deeply revealing news articles on government corruption and coronavirus vaccines from reliable major media sources.
October was a good month for Gilead Sciences, the giant manufacturer of antivirals. On 8 October, the company inked an agreement to supply the European Union with its drug remdesivir as a treatment for COVID-19—a deal potentially worth more than $1 billion. Two weeks later, on 22 October, the U.S. Food and Drug Administration (FDA) approved remdesivir for use against the pandemic coronavirus SARS-CoV-2 in the United States. Both decisions baffled scientists who have closely watched the clinical trials of remdesivir unfold. At best, one large, well-designed study found remdesivir modestly reduced the time to recover from COVID-19 in hospitalized patients with severe illness. A few smaller studies found no impact of treatment on the disease whatsoever. Then ... the World Health Organization's (WHO's) Solidarity trial showed that remdesivir does not reduce mortality or the time COVID-19 patients take to recover. Both [the] FDA's decision and the EU deal came about under unusual circumstances that gave the company important advantages. FDA never consulted a group of outside experts that it has at the ready to weigh in on complicated antiviral drug issues. The European Union, meanwhile, decided to settle on the remdesivir pricing exactly 1 week before the disappointing Solidarity trial results came out. Gilead, having donated remdesivir to the trial, was informed of the data on 23 September and knew the trial was a bust.
Note: Remdesivir had never been approved by the FDA for use before Oct. 2020, yet was rushed through the approval process, while Nobel-prize winning drug Ivermectin was all but banned, even though there was minimal evidence of harm. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources.
After raking in enormous profits from its coronavirus vaccine in 2021, the U.S.-based pharmaceutical giant Pfizer has kicked off the new year by hiking the prices of more than 120 of its drugs, resulting in significantly higher costs for patients amid a deadly pandemic. That's according to a new report released Thursday by Patients for Affordable Drugs (P4AD), which found that pharmaceutical companies have raised the prices of 554 medicines this month alone. Pfizer led the way with 125 price hikes to start 2022, leading P4AD to label the company the industry's "poster child for greed." "Due to sales of its Covid-19 vaccine, which is set to be the best-selling drug of all time, Pfizer shattered profit records in 2021. Projected sales for 2022 are $54.5 billion—more than double the previous record for one-year sales for a prescription drug," the report notes. "To put this into perspective, AbbVie's Humira previously held the spot with $19.8 billion in sales, and Pfizer’s best-selling product just prior to the pandemic achieved worldwide revenues of $5.8 billion." "Despite this record revenue in 2021," the report continues, "Pfizer began 2022 with price hikes on seven of its 10 best-selling drugs," including its pneumonia vaccine (up 6.9%), a breast cancer medication (up 6.9%), and a treatment for people with cardiovascular disease (up 6%). "These hikes of 5% or 6% can translate into thousands of dollars in higher costs for patients," P4AD notes.
Note: See also a Forbes article asking why physicians aren’t challenging outrageous pricing for medical costs. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma profiteering from reliable major media sources.
The pharmaceutical industry keeps turning up the dial on lobbying, setting massive new spending records in its intensive effort to influence Congress and the Biden administration. Yet this week, President Biden angered drugmakers when he said he supports the waiving of intellectual property protections for coronavirus vaccines. Drug and health product manufacturers, along with their national association, spent a combined $92 million to lobby the federal government from January through March. That puts the industry on track to break its spending record for the second year in a row. Not only that, but its first-quarter spending was more than double what was spent by the second-highest-spending industry, electronics companies. There are currently 1,270 registered lobbyists for pharmaceuticals and health products — more than two lobbyists for every member of Congress. Pfizer, maker of one of the three coronavirus vaccines approved for emergency use in the United States, was the biggest spender of any individual drug company. And last year, as it was developing its vaccine, the federal government agreed to pay the company $1.95 billion for the first 100 million doses it produced. The company reported it had $3.5 billion in revenue from sales of the vaccine so far this year. Pfizer was outflanked on lobbying spending only by the Pharmaceutical Research and Manufacturers of America — the national association that represents the interests of drugmakers.
Note: For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption and the coronavirus vaccine from reliable major media sources.
What happens when government leaders leave Washington for cushy jobs on corporate boards? Former Food and Drug Administration (FDA) Commissioner Scott Gottlieb is just the latest administration official to go through the revolving door after his second tour at the FDA. Gottlieb recently resigned from his spot as the top federal drug regulator to take on a role at Pfizer—the top drug producer in the United States. But Gottlieb’s hiring is just the latest in a long line of moves to fortify the industry’s influence in Washington. Big Pharma spending on lobbying eclipses every other industry according to the Center for Responsive Politics. Current Health and Human Services Secretary Alex Azar - Gottlieb’s former boss - used to be president of Lilly USA, the U.S. branch of pharmaceutical giant Eli Lilly. Trump lauded his appointment by calling Azar a “star for better healthcare and lower drug prices,” but during his time there the company raised the brand’s insulin prices threefold creating a crisis and drawing public outrage. A study last year found more than 160 former lobbyists serving in the Trump administration - and those industry ties point to an administration that puts the priorities of large corporations over those of the American people. Corporate executives and industry lobbyists cannot be effective regulators of the industries that have made them millions. The revolving door is an age-old problem in Washington but the scope and volume of the conflicts in the current administration ... is unprecedented.
Note: For lots more on the revolving door between government and big Pharma, see the “Revolving Door Project” and read this revealing article. For more along these lines, see concise summaries of deeply revealing news articles on government corruption and Big Pharma profiteering from reliable major media sources.
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