Pharmaceutical Corruption News ArticlesExcerpts of key news articles on pharmaceutical corruption
Johnson & Johnson, the company that makes the antipsychotic drug Risperdal, has tentatively agreed to a settlement of $2.2 billion to resolve a federal investigation into the company’s marketing practices. Johnson & Johnson confidentially paid psychiatrists such as Harvard’s Joseph Biederman to promote adult drugs such as the powerful antipsychotic drug Risperdal for children. The company has even ghost-written at least one of the Harvard professor’s “scientific” articles. Another recent DOJ settlement with drug company GlaxoSmithKline resulted in Glaxo’s agreement to pay $3 billion in criminal and civil fines. GlaxoSmithKline employed several tactics aimed at promoting the use of [Paxil] in children, including helping to publish a medical journal article that misreported data from a clinical trial. GlaxoSmithKline also secretly paid about $500,000 to psychiatrist Charles Nemeroff ... to promote Paxil. Glaxo even ghostwrote a psychopharmacology textbook for family doctors, who write many prescriptions for children, which was “coauthored“ by Nemeroff and psychiatrist Alan Schatzberg. None of these drug-company-bought psychiatrists has suffered serious consequences. Meanwhile, the DOJ has now enforced a total of $8.9 billion in criminal and civil fines against GlaxoSmithKline, Pfizer, Eli Lilly, and Johnson & Johnson. Stimulants, antidepressants and antipsychotic drugs are very harmful to the brain. The health professions would do far more good stopping the drugging of children than continuing or increasing it.
Note: The above was written by Peter Breggin, MD, author of the book, "Psychiatric Drug Withdrawal: A Guide for Prescribers, Therapists, Patients and Their Families" For more along these lines, see concise summaries of deeply revealing Big Pharma corruption news articles from reliable major media sources.
The pharmaceutical group GlaxoSmithKline has been fined $3bn (Ł1.9bn) after admitting bribing doctors and encouraging the prescription of unsuitable antidepressants to children. The company encouraged sales reps in the US to mis-sell three drugs to doctors and lavished hospitality and kickbacks on those who agreed to write extra prescriptions. The company admitted corporate misconduct over the antidepressants Paxil and Wellbutrin and asthma drug Advair. GSK also paid for articles on its drugs to appear in medical journals and "independent" doctors were hired by the company to promote the treatments. Paxil – which was only approved for adults – was promoted as suitable for children and teenagers by the company despite trials that showed it was ineffective. Children and teenagers are only treated with antidepressants in exceptional circumstances due to an increased risk of suicide. The second drug to be mis-sold was Wellbutrin – another antidepressant aimed only at adults. The prosecution said the company paid $275,000 to Dr Drew Pinsky, who hosted a popular radio show, to promote the drug on his programme, in particular for unapproved uses. US attorney Carmin Ortiz said: "The sales force bribed physicians to prescribe GSK products using every imaginable form of high-priced entertainment, from Hawaiian vacations [and] paying doctors millions of dollars to go on speaking tours, to tickets to Madonna concerts." Despite the large fine, $3bn is far less than the profits made from the drugs.
Note: In February 2016, GlaxoSmithKline was fined another $53 million by the UK for preventing generic competition. The list of huge fines to top drug companies includes five fines of over $1 billion and dozens over $100 million. How can we trust these companies on the safety and reliability of their products?
In 2006 ... the Centers for Disease Control and Prevention in Atlanta and the World Health Organization in Geneva warned of the imminent onset of an avian flu "pandemic" of lethal proportions. The pandemic never occurred. After reviewing studies of Tamiflu during the avian flu scare, Dr. Tom Jefferson ... had concluded in a 2006 report that the drug was effective. "But," said the article, "several years later, another physician challenged that conclusion because 8 of 10 studies in a meta-analysis — a review of studies — that Jefferson relied on had never been published." That prompted Jefferson to seek the raw data. "He was stymied when several authors and the manufacturer gave one excuse after another for why it couldn't supply the actual data. Jefferson's concern turned to outrage when two employees of a communications company … [revealed] they had been paid to ghostwrite some of the Tamiflu studies [and] had been given explicit instructions to ensure that a key message was embedded in the articles: Flu is a threat, and Tamiflu is the answer. "After reanalyzing the raw data finally made available (they still don't have it all), Jefferson and his colleagues published their review [in December 2009], saying that once the unpublished studies were excluded, there was no proof that Tamiflu reduced serious flu complications like pneumonia or death." In short, it appears the pharmaceutical companies had been as cunning in conning the public on matters of health as Wall Street had been on matters of wealth.
Note: For powerful media reports suggesting that both the Avian Flu and Swine Flu were incredibly manipulated to promote fear and boost pharmaceutical sales, click here. For lots more from reliable sources on pharmaceutical corruption, click here.
The federal government has not done enough to oversee the treatment of America's foster children with powerful mind-altering drugs, according to a Government Accountability Office (GAO) report. The GAO's report, based on a two-year-long investigation, looked at five states - Florida, Massachusetts, Michigan, Oregon and Texas. Thousands of foster children were being prescribed psychiatric medications at doses higher than the maximum levels approved by the Food and Drug Administration (FDA) in these five states alone. And hundreds of foster children received five or more psychiatric drugs at the same time despite absolutely no evidence supporting the simultaneous use or safety of this. Overall, the GAO ... found that more than one-fourth of foster children were prescribed at least one psychiatric drug, [and] were prescribed psychotropic drugs at rates up to nearly five times higher than non-foster children. The chances of a foster child compared to a non-foster child being given five or more psychiatric drugs at the same time were alarming. In Texas, foster children were 53 times more likely to be prescribed five or more psychiatric medications at the same time than non-foster children. Foster children were also more than nine times more likely than non-foster children to be prescribed drugs for which there was no FDA-recommended dose for their age. For ... those less than 1 year old, foster children were nearly twice as likely to be prescribed a psychiatric drug compared to non-foster children.
The Supreme Court on [February 22] shielded the nation's vaccine makers from being sued by parents who say their children suffered severe side effects from the drugs. By a 6-2 vote, the court upheld a federal law that offers compensation to these victims but closes the courthouse door to lawsuits. Justice Antonin Scalia said the high court majority agreed with Congress that these side effects were "unavoidable" when a vaccine is given to millions of children. If the drug makers could be sued and forced to pay huge claims for devastating injuries, the vaccine industry could be wiped out, he said. The American Academy of Pediatrics applauded the decision. The ruling was a defeat for the parents of Hannah Bruesewitz, who as a child was given a standard vaccination for diphtheria, tetanus and pertussis. She later suffered a series of seizures and delayed development. Her parents sought compensation for her injuries, but their claim was turned down. They then sued the drug maker in a Pennsylvania court, contending that the vaccine was defectively designed. A judge and the U.S. Court of Appeals in Philadelphia ruled they were barred from suing, and the Supreme Court affirmed that judgment.
Note: For powerful evidence that childhood vaccines are much less effective than is generally believed, click here.
The goal of this project is to improve the quality of vaccination programs by improving the quality of physician adverse vaccine event detection and reporting to the national Vaccine Adverse Event Reporting System (VAERS). Restructuring at CDC and consequent delays in terms of decision making have made it challenging despite best efforts to move forward. Adverse events from drugs and vaccines are common, but underreported. Although 25% of ambulatory patients experience an adverse drug event, less than 0.3% of all adverse drug events and 1-13% of serious events are reported to the Food and Drug Administration (FDA). Likewise, fewer than 1% of vaccine adverse events are reported. Low reporting rates preclude or slow the identification of "problem" drugs and vaccines that endanger public health. New surveillance methods for drug and vaccine adverse effects are needed. Barriers to reporting include a lack of clinician awareness, uncertainty about when and what to report, as well as the burdens of reporting: reporting is not part of clinicians' usual workflow, takes time, and is duplicative. Unfortunately, there was never an opportunity to perform system performance assessments because the necessary CDC contacts were no longer available and the CDC consultants responsible for receiving data were no longer responsive to our multiple requests to proceed with testing and evaluation.
Note: The U.S. government here is admitting that less than 1% of vaccine injuries are reported. What does this say about the safety of vaccines in general? For more along these lines, see concise summaries of deeply revealing news articles on vaccines from reliable major media sources.
Eric Merola's "Burzynski" charts how a Texas medical doctor and biochemist developed Antineoplastons, genetic-targeted medicines, and with them began to treat a wide range of cancers, including difficult-to-treat brain malignancies, with remarkable and continuing success only to bring down the full force of the medical establishment, which has laid assault to him in the most stupefying, devious and costly manner. Stanislaw Burzynski, a Polish immigrant ... eventually won a 14-year struggle – during which he found himself threatened with life imprisonment and astronomical fines for fraud and other violations – to obtain FDA-approved clinical trials of his Antineoplastons, an ordeal that cost Burzynski $2.2 million in legal expenses and the FDA $60 million in taxpayers' money. The film makes the case that big pharmacy holds the FDA in its thrall. Burzynski's Antineoplastons, with their high success rate and lack of side effects, pose a significant threat to the trillion-dollar industry of treating cancer with the traditional methods of surgery, radiation and chemotherapy.
Note: The Los Angeles Times now requires payment to view this article at this link. For the Burzynski clinic website, click here. You can watch part or all of this revealing movie at this link. For another powerful documentary featuring a variety of potential cancer cures that have been suppressed, click here. For excerpts from numerous major media articles with potential cancer cures that are being suppressed, click here.
Money talks -- and very loudly -- when a drug company is funding a clinical trial involving one of its products. UCSF researchers looked at nearly 200 head-to-head studies of widely prescribed cholesterol-lowering medications, or statins, and found that results were 20 times more likely to favor the drug made by the company that sponsored the trial. "We have to be really, really skeptical of these drug-company-sponsored studies," said Lisa Bero, the study's author and professor of clinical pharmacy and health policy studies. The trials typically involved comparing the effectiveness of a drug to one or two other statins. UCSF researchers also found that a study's conclusions -- not the actual research results but the trial investigators' impressions -- are more than 35 times more likely to favor the test drug when that trial is sponsored by the drug's maker. Bero said drug companies fund up to 90 percent of drug-to-drug clinical trials for certain classes of medication. The researchers found other factors that could affect trial results. For example, pharmaceutical companies could choose not to publish results of studies that fail to favor their drugs, or they could be designed in ways to skew results. The study found the most important weakness of trials was lack of true clinical outcome measures. In the case of statins, some trials focused on less-direct results such as lipid levels but failed to connect the results with key outcomes such as heart attacks or mortality. "None of us really care what our cholesterol level is. We care about having a heart attack," Gibson said. "For the drug to be worthwhile taking, it has to be directly related to prevent a heart attack."
Note: For lots more reliable information about corruption in the pharmaceutical industry, click here.
Two of the world’s largest drug companies are paying hundreds of millions of dollars to doctors every year in return for giving their patients anemia medicines, which regulators now say may be unsafe at commonly used doses. The payments are legal, but very few people outside of the doctors who receive them are aware of their size. The payments give physicians an incentive to prescribe the medicines at levels that might increase patients’ risks of heart attacks or strokes. At just one practice in the Pacific Northwest, a group of six cancer doctors received $2.7 million from Amgen for prescribing $9 million worth of its drugs last year. [A] report prepared by F.D.A. staff scientists said no evidence indicated that the medicines either improved quality of life in patients or extended their survival. Several studies suggested that the drugs can shorten patients’ lives when used at high doses. The medicines ... are among the world’s top-selling drugs. They represent the single biggest drug expense for Medicare. Since 1991 ... the average dose given to dialysis patients in this country has nearly tripled. About 50 percent of dialysis patients now receive enough of the drugs to raise their red blood cell counts above the level considered risky by the F.D.A. Unlike most drugs, the anemia medicines do not come in fixed doses. Therefore, doctors have great flexibility to increase dosing — and profits. The companies have [failed] to test whether lower doses of the medicines might work better than higher doses. There is little evidence that the drugs make much difference for patients with moderate anemia, and federal statistics show that the increased use of the drugs has not improved survival in dialysis patients.
Note: For lots more on major corruption in health care, click here.
By Dr. Michael Wilkes. I recently wrote a column about cholesterol-lowering medications. I stated that if 67 healthy men with elevated cholesterol took a cholesterol-lowering drug ... for five years, only one would benefit. The other 66 would not benefit, and it would cost about $5,500 over the five-year period. I received a ton of e-mail from readers. Many readers wrote that after knowing this number, they did not feel taking the drug was worth the effort or expense. Others took the opposite view. Both interpretations are valid, depending on the person's values. This number -- the 1 in 67 -- is a term doctors call "the number needed to treat," or NNT. It is a relatively new concept [that] is grossly underused in sharing information with the public. Doctors and pharmacists do a poor job talking with patients about their medications. Many people will derive little or no benefit from their medicines, but they are never told this. The key is for doctors and patients to understand the NNT. Here are some estimates of NNT: 1 in 2,550: The number of breast cancer deaths prevented in women between the ages of 50 and 59 screened annually for five years with mammograms. 1 in 2,000: The number of women ages 60-64 without risk factors who would prevent a hip fracture by taking medicine for osteoporosis for five years. 1 in 700: The number of people with mild high blood pressure who would prevent a stroke or heart attack by taking blood pressure medicine for one year. 1 in 16: The number of infections prevented by treating a victim of a dog bite with a week of antibiotics. 1 in 7: The number of children (otherwise healthy children) who benefit from treatment with an antibiotic for an ordinary ear infection.
Note: Many doctors and scientists have made valid claims that drug companies are hyping disease in order to make profits on their drugs. For a top MD's discussion of this vital topic, click here.
Fraudulent research regularly appears in the 30,000 scientific journals published worldwide, a former editor of the British Medical Journal (BMJ) said today. Even when journals discover that published research is fabricated or falsified they rarely retract the findings, according to Richard Smith, who was also chief executive of the BMJ publishing group. Writing in the latest edition of the Journal of the Royal Society of Medicine, Dr Smith called on editors to blow the whistle on bad research and to use their clout to pressure universities into taking action against dodgy researchers. The former BMJ editor said it was likely that research fraud was "equally common" in the 30,000 plus scientific journals across the globe but was "invariably covered up". His call for action comes in the wake of several high profile cases of fraudulent research, including the Korean scientist Hwang Woo-suk who fabricated stem cell research that it was claimed would open up new ways to treat diseases like Parkinson's. Dr Smith criticised the failure of scientific institutions, including universities, to discipline dodgy researchers even when alerted to problems by journals. "Few countries have measures in place to ensure research is carried out ethically," he said. "Most cases are not publicised. They are simply not recognised, covered up altogether or the guilty researcher is urged to retrain, move to another institution or retire from research."
Note: For reliable information on the collusion of industry, government, and research facilities who place profits above advances in public health: http://www.WantToKnow.info/healthcoverup
No one foresaw ... the shocking extent to which the internet would change the terms of trade between corporations and society. One of the world's largest drug companies [was] the first victim. Britain's GlaxoSmithKline, the world's second-largest pharma, denied any wrongdoing, but agreed to pay $2.5m ... for concealing evidence of its antidepressant Seroxat's potential for harming children, while doing them no measurable good. Infinitely more frightening ... this pharma had the backing of institutions that we, the public, rely on to protect us from poisoning by prescription. The Royal College of Psychiatrists had insisted only a year earlier that 'there is no evidence that antidepressant drugs can cause dependence syndromes'. It was really the internet that allowed public health activists to do an end run around GSK's and the medical authorities' denials of the drug's risks. An explosion of websites dedicated to vivid accounts of antidepressant reactions told these campaigners about hundreds of thousands affected by a problem that officially did not exist. Health activists in Britain and America have uncovered the core of pharma might. In both countries, clinical drug tests are paid for by the pharmas, who tweak the trials' design for the best possible results. Until recently, only the most favourable findings got published in the 20,000-odd biomedical journals, many of them dependent on pharmas for funding. The drugs are approved for marketing by regulators, whose salaries are mostly financed by the subjects of their evaluations. The medicines are then prescribed by doctors routinely courted with pharma gifts ... meant to persuade them to change their prescribing habits.
Note: For a two-page summary with lots more reliable information on major health cover-ups by a doctor who was editor-in-chief of one of the most pretigious medical journals in the world, click here.
Generic drugs are just as safe and effective as their brand-name counterparts but they cost only a fraction as much. That is because companies that produce the generic versions simply copy the formula developed by the drug’s inventor years before. While your drugstore charges you less for a generic drug than a brand name version, that price difference is nothing compared to the markup most druggists place on the generics. Your pharmacy most likely paid a wholesale price of only pennies for that generic medicine. They then charge you a markup of 3,000%, 4,000%, even 5,000% or more, pocketing most of your savings. Who’s paying sky-high prices? People who can least afford to get ripped off—the elderly, the unemployed, and everybody who has to pay for their prescription medicine out of their own pocket. At CVS the cost of generic Prozac is marked up at least 56 times what the drug cost wholesale. It is a 5,594% markup. And in our survey of more than a dozen popular generic drugs, CVS leads the pack with average markups of 1,436% Walgreen’s is not far behind at 1,341% and Rite Aid markups on generics average 1,183%. [WXYZ reporter] Steve Wilson took the issue to Kurt Proctor, Vice President of the Association of Chain Drug Stores. "Explain to me why it’s necessary to take an 82 cent product and mark it up to $46.69? You have to mark it up 5,500% to meet your costs to make a profit? This is really about greed, isn’t it?" asked Wilson. "It’s not about greed," responded Proctor. "That’s not accurate at all. That’s a misleading statement. What I hope you will focus on is making sure people use their medications correctly."
Note: This important exposure of price-gouging by pharmacies is still available at Web Archive (click on the link above for the complete article, which is well worth reading in its entirety), but for some reason has been taken down at WXYZ's website. Could it be someone doesn't want us to know about this?
It's been a mystery in Washington for weeks. Just before President Bush signed the homeland security bill into law an unknown member of Congress inserted a provision into the legislation that blocks lawsuits against the maker of a controversial vaccine preservative called "thimerosal," used in vaccines that are given to children. Drug giant Eli Lilly and Company makes thimerosal. It's the mercury in the preservative that many parents say causes autism in thousands of children. But nobody in Congress would admit to adding the provision, reports CBS News Correspondent Jim Acosta – until now. House Majority Leader Dick Armey tells CBS News he did it to keep vaccine-makers from going out of business under the weight of mounting lawsuits. "I did it and I'm proud of it," says Armey, R-Texas. "It's a matter of national security," Armey says. Because Armey is retiring at the end of the year, some say the outgoing majority leader is the perfect fall guy to take the heat and shield the White House from embarrassment.
Note: A Reuters article reports that the former head of the US's CDC was later named president of Merck's vaccine division with accompanying high salary. Could this be payoff for her support in suppressing studies that cast doubt on vaccines?
We're giving more and more psychiatric drugs to children. What medicine and psychiatry have done is to take essentially behavioral problems - problems of conflict between adults and children - and redefine them as medical problems. I believe that there is no scientific reason or justification for giving psychoactive agents to children. Take a healthy animal, like a chimpanzee, who wants to groom its neighbor, wants to play, socialize, wants to explore, and particularly would like to escape - that's a normal animal. If you give the animal a stimulant drug, it loses all its spontaneous behavior. And instead, obsessive narrow behavior is enforced. These drugs make good caged animals. Now, if you get all that same behavior in a child, if you crush a child's desire to socialize, to play, to escape, to be full of stuff like kids are, and instead you enforce a narrow obsessive focus, teachers will see this universally as improved behavior. Parents have also been lied to: flat-out lied to. They've been told that children have a neurobiological disorder. On what basis? Physicians and the public grabbed on to what is essentially a PR campaign ... that if you have a mental disturbance, it's biochemical. Now they run into problems. Because the next drug that comes along affects a different neurotransmitter, and then the next one affects a different neurotransmitter. And they're all working, because they all cause certain disabilities of the brain that some people experience as an improvement.
Note: Learn about Dr. Breggin's key role in stopping lobotomies and much more in this informative interview. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.
Do drugs really stop working after the date stamped on the bottle? Fifteen years ago, the U.S. military decided to find out. Sitting on a $1 billion stockpile of drugs and facing the daunting process of destroying and replacing its supply every two to three years, the military began a testing program to see if it could extend the life of its inventory. The testing, conducted by the U.S. Food and Drug Administration, ultimately covered more than 100 drugs, prescription and over-the-counter. The results ... show that about 90% of them were safe and effective far past their original expiration date, at least one for 15 years past it. The program's returns have been huge. The military from 1993 through 1998 spent about $3.9 million on testing and saved $263.4 million on drug expense. In light of these results, a former director of the testing program, Francis Flaherty, says he has concluded that expiration dates put on by manufacturers typically have no bearing on whether a drug is usable for longer. "Manufacturers put expiration dates on for marketing, rather than scientific, reasons," says Mr. Flaherty, a pharmacist at the FDA until his retirement last year. "They want turnover." Joel Davis, a former FDA expiration-date compliance chief, says that with a handful of exceptions - notably nitroglycerin, insulin and some liquid antibiotics - most drugs are probably as durable as those the agency has tested for the military. "Most drugs degrade very slowly," he says. "In all likelihood, you can take a product you have at home and keep it for many years." Drug-industry officials ... acknowledge that expiration dates have a commercial dimension.
Note: As the Wall Street Journal charges to view this article at the above link, you can view it free here. For lots more on how the pharmaceutical industry cares more about profits than your health, click here.
The cost of vaccinating the world against COVID-19 could be at least five times cheaper if pharmaceutical companies weren't profiteering from their monopolies on COVID-19 vaccines, campaigners from The People's Vaccine Alliance said today. New analysis by the Alliance shows that the firms Pfizer/BioNTech and Moderna are charging governments as much as $41 billion above the estimated cost of production. Colombia, for example, has potentially overpaid by as much as $375 million for its doses of the Pfizer/BioNTech and Moderna vaccines, in comparison to the estimated cost price. Despite a rapid rise in COVID cases and deaths across the developing world, Pfizer/BioNTech and Moderna have sold over 90 percent of their vaccines so far to rich countries, charging up to 24 times the potential cost of production. Neither company have agreed to fully transfer vaccine technology and know-how with any capable producers in developing countries, a move that could increase global supply, drive down prices and save millions of lives. Analysis of production techniques for the leading mRNA type vaccines produced by Pfizer/BioNTech and Moderna â€•which were only developed thanks to public funding to the tune of $8.3 billionâ€• suggest these vaccines could be made for as little as $1.20 a dose. Yet COVAX, the scheme set up to help countries get access to COVID vaccines, has been paying, on average, nearly five times more.
Two former Merck & Co Inc scientists accusing the drugmaker of falsifying tests of its exclusive mumps vaccine said in a court filing on Monday that Merck is refusing to respond to questions about the efficacy of the vaccine. Attorneys at Constantine Cannon, who represent the scientists, asked U.S. Magistrate Judge Lynne Sitarski of the Eastern District of Pennsylvania to compel Merck to respond to their discovery request, which asks the company to give the efficacy of the vaccine as a percentage. Instead of answering the question ... Merck has been consistently evasive, using “cut-and-paste” answers saying it cannot run a new clinical trial to determine the current efficacy, and providing only data from 50 years ago. The two scientists, Stephen Krahling and Joan Wlochowski, filed their whistleblower lawsuit in 2010 claiming Merck, the only company licensed by the Food and Drug Administration to sell a mumps vaccine in the United States, skewed tests of the vaccine by adding animal antibodies to blood samples. As a result, they said, Merck was able to produce test results showing that the vaccine was 95 percent effective, even though more accurate tests would have shown a lower success rate. The plaintiffs said these false results kept competitors from trying to produce their own mumps vaccines, since they were unable to match the effectiveness Merck claimed. The case is United States ex rel Krahling et al v. Merck & Co Inc, U.S. District Court, Eastern District of Pennsylvania, No. 10-4374.
Note: Why didn't this get reported widely? A search reveals no major media other than Reuters and WSJ covered this. This article in a local paper states the two whistleblowers were threatened by Merck with jail if they went public with this. It also says all students in a Syracuse University mumps outbreak had been properly vaccinated. This excellent article gives a 2019 update and reveals how the vaccines caused injury in a very high percentage of cases. For more, see concise summaries of deeply revealing news articles on vaccines from reliable major media sources.
Pfizer expects to sell $15 billion worth of Covid-19 vaccines in 2021. That would make it the second-highest revenue-generating drug anytime, anywhere, according to industry reports. The maker of the first Covid-19 vaccine to be approved for use in advanced markets has released its earning forecasts for 2021 today. Pfizer expects to earn between $59 billion and $61 billion - up from $42 billion it made in 2020. Sales of the vaccine are set to bring in about a fourth of Pfizer's total revenue this year. That would be nearly as much as its three best-selling products combined. The company is expecting profit margins for the vaccine to be between 25% and 30% which means profits from the vaccine could be around $4 billion. All of Pfizer's costs and profits from the vaccine are split evenly with BioNTech, the biotech company that helped develop the treatment. There are is only one drug in the world that sells more - Humira, a prescription medication for arthritis. Pfizer plans on selling 2 billion doses of the vaccine this year, but that demand should subside in coming years so the revenue of Covid-19 vaccine won't be stable, Pfizer's CEO Albert Bourla said on an call with analysts and investors. The company expects to continue profiting from it by selling booster doses, including ones required to shield against new variants of the virus, Bourla said. Further, Pfizer is pursuing more avenues to employ the mRNA technology underlying the vaccine, including a flu vaccine and other therapeutic applications.
Note: Read more in this revealing Reuters article. For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines and Big Pharma profiteering from reliable major media sources.
Pharmaceutical companies are under the spotlight with congressional hearings on the cost of drug prices and allegations of the industry’s role in the opioid crisis. Dr. Raeford Brown, a pediatric anesthesia specialist ... and chair of the Food and Drug Administration (FDA) Committee on Analgesics and Anesthetics, has been openly critical of big pharma and the lack of proper oversight from the FDA. Despite many politicians, particularly declared presidential candidates, beginning to speak out against big pharma, Brown does not think that anything will come out of it “because Congress is owned by pharma.” “The pharmaceutical industry pours millions of dollars into the legislative branch every single year,” he [said]. “In 2016, they put $100 million into the elections. That’s a ton of money.” OpenSecrets, a website operated by the nonpartisan Center for Responsive Politics, tracks money in U.S. politics. It ranked the top 20 members of the House and the Senate that have received the most campaign contributions from the pharmaceutical and health products industry. Kevin McCarthy, now the House minority leader after midterms, received ... a total of $380,350 in campaign contributions, with a large sum coming from pharma companies. “Congress is supposed to have oversight for the FDA,” Brown said. “If the FDA isn’t going to hold pharma accountable, and Congress is getting paid to not hold pharma accountable, then it really doesn’t matter who the president is because it’s really about Congress.”
Note: Learn more on how big Pharma controls politicians in this very well researched video. For more along these lines, see concise summaries of deeply revealing news articles on government corruption and Big Pharma profiteering from reliable major media sources.
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