Consumers have long complained about the cost of pharmaceuticals. Pharmaceutical companies in turn complain about the cost of Research & Development. For every new drug brought to market dozens or more fail, driving up the cost of medications that make their way through clinical trials successfully. A newly released study shows a considerable amount of dishonesty when pricing meds.
Science Daily recently published an overview of a study entitled, “The Cost of Pushing Pills: A New Estimate of Pharmaceutical Promotion Expenditures in the United States.”
The researchers’ estimate is based on the systematic collection of data directly from the industry and doctors during 2004, which shows the U.S. pharmaceutical industry spent 24.4% of the sales dollar on promotion, versus 13.4% for research and development, as a percentage of US domestic sales of US$235.4 billion
As well, note the authors, the number of meetings for promotional purposes has dramatically increased in the U.S. pharmaceutical industry, jumping from 120,000 in 1998 to 371,000 in 2004, further supporting their findings that the U.S. pharmaceutical industry is marketing-driven.
Roughly one quarter of the purchase price of every prescription you buy, pays for Big Pharma marketing to you and your physicians. That’s a pretty hefty chunk of change if you’re chronically ill.
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