SHOCKFACTS: US pharmaceutical companies

Wednesday, November 17, 1993 - 11:00

  • In 2000, 29% of people in the US failed to fill a prescription because they couldn't afford to.

  • In 2001, the nine largest pharmaceutical companies raked in US$30.6 billion in profits.

  • The five most highly paid drug company executives pocketed more than $183 million in 2001.

  • When consumers buy one of the most popular and highly prescribed drugs in the US for high cholesterol, 35% of the cost goes to marketing, advertising and administration; 26% to "other", such as manufacturing, executive pay and workers' wages; 24% is pure (net) profit; and just 15% goes to research and development.

  • In the lead-up to the 2000 US election, drug companies spent more money than any other industry to influence politicians.

{Source: <http://www.aflcio.org/aboutaflcio/magazine>. Got a shockfact? Email <glw@greenleft.org.au>.]

From Green Left Weekly, August 18, 2004.

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From GLW issue 594