Contrary to the claims of pharmaceutical companies that high drug prices are necessary to fund their research and development (R&D) costs, this report found that firms instead prioritize enriching executives and stockholders. Previous research conducted independently has similarly concluded there is actually no correlation between R&D spending and outlandish drug prices. Pharmaceutical companies have repeatedly been shown to spend more money increasing shareholder wealth than they do on R&D.
What the new Senate report essentially ignores, however, is the fact that a key strategy of the pharmaceutical industry is to develop and market drugs that merely mask symptoms. The curing or elimination of diseases is deliberately avoided as this would destroy the multibillion-dollar disease markets that the pharmaceutical industry profits from. As such, by directly addressing the micronutrient deficiencies that are the primary cause of chronic disease, vitamin-based therapies are a major threat to this industry.
To learn more about the business strategies of the pharmaceutical industry, check out the popular ‘Laws of the Pharmaceutical Industry’ page on our website.
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News
A United States Senate report points to greed and “patent thickets” as the key reasons for high drug prices.
[Source: arstechnica.com]
[Image source: Adobe Stock]
Comment
Contrary to the claims of pharmaceutical companies that high drug prices are necessary to fund their research and development (R&D) costs, this report found that firms instead prioritize enriching executives and stockholders. Previous research conducted independently has similarly concluded there is actually no correlation between R&D spending and outlandish drug prices. Pharmaceutical companies have repeatedly been shown to spend more money increasing shareholder wealth than they do on R&D.
What the new Senate report essentially ignores, however, is the fact that a key strategy of the pharmaceutical industry is to develop and market drugs that merely mask symptoms. The curing or elimination of diseases is deliberately avoided as this would destroy the multibillion-dollar disease markets that the pharmaceutical industry profits from. As such, by directly addressing the micronutrient deficiencies that are the primary cause of chronic disease, vitamin-based therapies are a major threat to this industry.
To learn more about the business strategies of the pharmaceutical industry, check out the popular ‘Laws of the Pharmaceutical Industry’ page on our website.
Dr. Rath Health Foundation
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