Things you didn’t know about the pharmaceutical industry- Part 2

A drug safety it is not a substitute for studies of ways the drug will interact with the human body clinical research refers to studies or trials that are done on people most times in hospitals pharmaceutical companies are usually selective about the information they release after such research Pharma giant GlaxoSmithKline did just that with the results of their paxil trial research because its data showed that the drug was less than effective in children and teens the company was forced to publish all the results after a lawsuit but the sad part is that this is just one lawsuit other companies still won’t publish all the conclusions of their studies or keep doing research without FDA approvals which is extremely problematic number seven in 2015 HIV drugs went from $13 a tablet to 750 dollars overnight Martin shkreli the founder and chief executive of turing pharmaceuticals caused a lot of rage in 2015 when he bought the company that manufactured one of the most effective HIV medicines and raised the price overnight from $13 to 750 dollars the cost of the annual daya prem treatment rose to reaching enormous sums of money

Biotech and Pharmaceutical | WSP

shkreli declared after the increasing of the price but the impact on the health system would be really small the drug being rarely used he also said the money earned for selling the drug would be used for research and development of a new drug for toxoplasmosis but he definitely got a lot of hate from everyone but I guess as they say Karma’s a bitch Martin shkreli was sentenced to seven years in a federal prison in March of 2018 number 8 there is a big pharma conspiracy going around big pharma is the name given to the 15 huge companies in the pharmaceutical industry and it’s surrounded by a lot of conspiracy theories many people believe these companies work hand in hand with government to keep their population sick so there’s always a profit to be had one of the biggest conspiracies in this industry however was hiv/aids related some claimed that the virus and disease don’t actually exist and it’s just a big pharma conspiracy to make people buy expensive medicines and hide the fact they don’t know what is killing people in February of 2018 a Russian mother who didn’t believe in the existence of AIDS was charged with manslaughter after her HIV positive baby died the baby’s mother was HIV positive – and refused treatment for herself and her daughter leading to the little girl’s death these conspiracy theories are a huge problem because people are refusing treatments or vaccinations against all sorts of diseases number 9 advertising is key in the industry look everybody needs medicine every once in a while and maybe you don’t really care who’s selling the ibuprofen you’re buying what the truth is the laws of economics apply here as well and companies fight each other in order to gain a bigger share of the market it takes serious advertising dollars to promote a drug to consumers and doctors in order to build awareness it seems like in the u.s. big pharma companies spend more than 200 million dollars a year for advertising purposes in order to make their products visible they turn to all sorts of tactics from hiring famous people to talk about a product to giving free samples to doctors so they would promote the medicine to its customers unfortunately in a lot of countries the regulations are vague or unclear so a lot of commercials push consumers to buy and trust the meds without giving away too much information about the side-effects number 10 the pharmaceutical industry is the most profitable of them all with over one hundred and fifty four billion dollars spent on drugs all people get sick and the modern less painful way to treat diseases is with medicine the pharmaceutical industry is by far one of the most profitable industries of all and major generic pharmaceutical companies like Pfizer Johnson & Johnson and GSK leads the way when looking at the top ten industries in the world you’ll find among them biotech generic and major pharmaceutical companies along with major banks and investment firms Americans spent one hundred and fifty four billion dollars on prescription drugs last year that’s an increase of more than 17 percent over 2016 according to a study by the National Institute for Healthcare Management and the pharmaceutical sector gained a share of 21.6% net profit margin in 2016 and since we’re talking about medicine what about checking our top ten richest doctors in the world video by clicking in the top right corner number eleven there’s still no complete cure for cancer HIV or Parkinson’s disease cancer is the modern age killer of about 600,000 people a year

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