Close Menu
Ztoog
    What's Hot
    Technology

    The many ways Elon Musk’s DOGE is breaking the law, explained by a law professor

    Mobile

    Samsung Galaxy Unpacked 2024: How to watch and what to expect

    Crypto

    Will This Breakthrough Lead To A New Market Phase?

    Important Pages:
    • About Us
    • Contact us
    • Privacy Policy
    • Terms & Conditions
    Facebook X (Twitter) Instagram Pinterest
    Facebook X (Twitter) Instagram Pinterest
    Ztoog
    • Home
    • The Future

      How I Turn Unstructured PDFs into Revenue-Ready Spreadsheets

      Is it the best tool for 2025?

      The clocks that helped define time from London’s Royal Observatory

      Summer Movies Are Here, and So Are the New Popcorn Buckets

      India-Pak conflict: Pak appoints ISI chief, appointment comes in backdrop of the Pahalgam attack

    • Technology

      Ensure Hard Work Is Recognized With These 3 Steps

      Cicada map 2025: Where will Brood XIV cicadas emerge this spring?

      Is Duolingo the face of an AI jobs crisis?

      The US DOD transfers its AI-based Open Price Exploration for National Security program to nonprofit Critical Minerals Forum to boost Western supply deals (Ernest Scheyder/Reuters)

      The more Google kills Fitbit, the more I want a Fitbit Sense 3

    • Gadgets

      Maono Caster G1 Neo & PD200X Review: Budget Streaming Gear for Aspiring Creators

      Apple plans to split iPhone 18 launch into two phases in 2026

      Upgrade your desk to Starfleet status with this $95 USB-C hub

      37 Best Graduation Gift Ideas (2025): For College Grads

      Backblaze responds to claims of “sham accounting,” customer backups at risk

    • Mobile

      Samsung Galaxy S25 Edge promo materials leak

      What are people doing with those free T-Mobile lines? Way more than you’d expect

      Samsung doesn’t want budget Galaxy phones to use exclusive AI features

      COROS’s charging adapter is a neat solution to the smartwatch charging cable problem

      Fortnite said to return to the US iOS App Store next week following court verdict

    • Science

      Failed Soviet probe will soon crash to Earth – and we don’t know where

      Trump administration cuts off all future federal funding to Harvard

      Does kissing spread gluten? New research offers a clue.

      Why Balcony Solar Panels Haven’t Taken Off in the US

      ‘Dark photon’ theory of light aims to tear up a century of physics

    • AI

      How to build a better AI benchmark

      Q&A: A roadmap for revolutionizing health care through data-driven innovation | Ztoog

      This data set helps researchers spot harmful stereotypes in LLMs

      Making AI models more trustworthy for high-stakes settings | Ztoog

      The AI Hype Index: AI agent cyberattacks, racing robots, and musical models

    • Crypto

      ‘The Big Short’ Coming For Bitcoin? Why BTC Will Clear $110,000

      Bitcoin Holds Above $95K Despite Weak Blockchain Activity — Analytics Firm Explains Why

      eToro eyes US IPO launch as early as next week amid easing concerns over Trump’s tariffs

      Cardano ‘Looks Dope,’ Analyst Predicts Big Move Soon

      Speak at Ztoog Disrupt 2025: Applications now open

    Ztoog
    Home » Big Pharma spends billions more on executives and stockholders than on R&D
    Science

    Big Pharma spends billions more on executives and stockholders than on R&D

    Facebook Twitter Pinterest WhatsApp
    Big Pharma spends billions more on executives and stockholders than on R&D
    Share
    Facebook Twitter LinkedIn Pinterest WhatsApp

    When huge pharmaceutical firms are confronted over their exorbitant pricing of prescribed drugs within the US, they usually retreat to 2 well-worn arguments: One, that the excessive drug costs cowl prices of researching and growing new medicine, a dangerous and costly endeavor, and two, that center managers—pharmacy profit managers (PBMs), to be particular—are literally those worth gouging Americans.

    Both of those arguments confronted substantial blows in a listening to Thursday held by the Senate Committee on Health, Education, Labor and Pensions, chaired by Sen. Bernie Sanders (I-Vt.). In reality, pharmaceutical firms are spending billions of {dollars} more on lavish govt compensation, dividends, and inventory buyouts than they spend on analysis and improvement (R&D) for brand spanking new medicine, Sanders identified. “In different phrases, these firms are spending more to counterpoint their very own stockholders and CEOs than they’re find new cures and new therapies,” he stated.

    And, whereas PBMs actually contribute to America’s uniquely astronomical drug pricing, their profiteering accounts for a small fraction of the large drug market, Sanders and an knowledgeable panelist famous. PBMs work as shadowy center managers between drugmakers, insurers, and pharmacies, setting drug formularies and client costs, and negotiating rebates and reductions behind the scenes. Though PBMs practices contribute to total prices, they pale in comparison with pharmaceutical income.

    Rather, the guts of the issue, in accordance with a Senate report launched earlier this week, is pharmaceutical greed, patent gaming that permits drug makers to stretch out monopolies, and highly effective lobbying.

    On Thursday, the Senate committee gathered the CEOs of three behemoth pharmaceutical firms to query them on the drug pricing practices: Robert Davis of Merck, Joaquin Duato of Johnson & Johnson, and Chris Boerner of Bristol Myers Squibb.

    Advertisement

    “We are conscious of the various necessary lifesaving medicine that your firms have produced, and that is terribly necessary,” Sanders stated earlier than questioning the CEOs. “But, I believe, as all of you realize, these medicine imply nothing to anyone who can not afford it.”

    America’s uniquely excessive costs

    Sanders referred to as drug pricing within the US “outrageous,” noting that Americans spend by far essentially the most for prescribed drugs on the planet. A report this month by the US Department of Health and Human Services discovered that in 2022, US costs throughout all brand-name and generic medicine had been almost thrice as excessive as costs in 33 different rich international locations. That implies that for each greenback paid in different international locations for prescribed drugs, Americans paid $2.78. And that hole is widening over time.

    Focusing on medicine from the three firms represented on the listening to (J&J, Merck, and Bristol Myers Squibb), the Senate report checked out how preliminary costs for brand spanking new medicine coming into the US market have skyrocketed over the previous twenty years. The evaluation discovered that from 2004 to 2008, the median launch worth of revolutionary prescribed drugs bought by J&J, Merck, and Bristol Myers Squibb was over $14,000. But, over the previous 5 years, the median launch worth was over $238,000. Those numbers account for inflation.

    The report targeted on high-profit medicine from every of the drug makers. Merck’s Keytruda, a most cancers drug, prices $191,000 a yr within the US, however is simply $91,000 in France and $44,000 in Japan. J&J’s HIV drug, Symtuza, is $56,000 within the US, however solely $14,000 in Canada. And Bristol Myers Squibb’s Eliquis, used to forestall strokes, prices $7,100 within the US, however $760 within the UK and $900 in Canada.

    Sanders requested Bristol Myers Squibb’s CEO Boerner if the corporate would “cut back the record worth of Eliquis within the United States to the worth that you just cost in Canada, the place you make a revenue?” Boerner replied that “we will’t make that dedication primarily as a result of the costs in these two international locations have very completely different programs.”

    The highly effective pharmaceutical commerce group PhRMA, printed a weblog submit earlier than the listening to saying that evaluating US drug costs to costs in different international locations “hurts sufferers.” The group argued that Americans have broader, quicker entry to medicine than folks in different international locations.

    Share. Facebook Twitter Pinterest LinkedIn WhatsApp

    Related Posts

    Science

    Failed Soviet probe will soon crash to Earth – and we don’t know where

    Science

    Trump administration cuts off all future federal funding to Harvard

    Science

    Does kissing spread gluten? New research offers a clue.

    Science

    Why Balcony Solar Panels Haven’t Taken Off in the US

    Science

    ‘Dark photon’ theory of light aims to tear up a century of physics

    Science

    Signs of alien life on exoplanet K2-18b may just be statistical noise

    Science

    New study: There are lots of icy super-Earths

    Science

    Watch an owl try to eat a turtle whole

    Leave A Reply Cancel Reply

    Follow Us
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    Top Posts
    Science

    Watch this rocket ‘eat’ its own body for fuel

    As satellite tv for pc constellations and area junk proceed crowding orbital zones above Earth,…

    Mobile

    Xiaomi 14 Ultra vs. Samsung Galaxy S24 Ultra

    With the current world launch of the Xiaomi 14 Ultra, these on a quest for…

    Crypto

    Ethereum Daily Users Plunge Amid Declining Network Revenue

    The second quarter of 2023 introduced vital challenges for the Ethereum community as its income…

    Gadgets

    GeForce NOW: New Games, Baldur’s Gate 3 Full Release, And Bethesda Titles In August

    GeForce NOW, the revolutionary cloud gaming service by NVIDIA, is shaking up the gaming world…

    The Future

    iOS 17.4: How to Improve Your iPhone’s Stolen Device Protection

    Apple launched iOS 17.4 on March 5, and the replace introduced new options and bug…

    Our Picks
    The Future

    Twitter Was 2023’s Best Movie Theater

    The Future

    Queer Pirate Fantasy Running Close to the Wind Excerpt

    Crypto

    Bitcoin continues climbing, Block releases hardware wallet, Robinhood expands to EU and VCs may see some relief soon

    Categories
    • AI (1,482)
    • Crypto (1,744)
    • Gadgets (1,796)
    • Mobile (1,839)
    • Science (1,853)
    • Technology (1,789)
    • The Future (1,635)
    Most Popular
    Mobile

    Week 42 in review: Apple’s M3 chip is here, Galaxy S23 gets Android 14

    Gadgets

    Tesla Model S And Model X Now Have Cheaper Versions, But There’s A Catch

    Technology

    How to Stream Every ‘Halloween’ Movie in 2023

    Ztoog
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • About Us
    • Contact us
    • Privacy Policy
    • Terms & Conditions
    © 2025 Ztoog.

    Type above and press Enter to search. Press Esc to cancel.