The voice of big pharma employees

  • 2018. For half a century, corporate America has been ruled by the gospel of shareholder capitalism, as proclaimed by Milton Friedman.
  • While most senior pharma company executives focus on the profits, many of the rank and file really want to help patients but are overruled because of ROI.
  • Pharma companies are not a good place to work.  Open offices and small raises often lead to a stressful work environment.

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Pharma has a huge problem beyond revenues

  • According to the Conference Board worldwide, only 13 percent of workers feel “engaged”—meaning enthusiastic at work and committed to their companies—according to Gallup, which has tracked this since 2000.
  • Employees are merely the fuel that generates sales growth.
  • If you’re living in fear of losing your job, then all of your decisions and actions are geared to preserving your job rather than taking risks.

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Sorry PhRMA, pharma making record profits

  • The health care industry has already banked more profits than any other quarter in the past year.
  • As of Aug. 2, 85 publicly traded health care companies have amassed $47 billion of global profit on $545 billion of global revenue in the second quarter.
  • That profit is higher than the $45.6 billion that 118 health care companies posted in the first quarter of this year, and it’s higher than anything recorded in the past year.
  • Pharmaceutical companies continue to rake in the highest profit margins.

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The key cause of high drug prices is a social disease called “maximizing shareholder value”

  • Axios reported that top pharmaceutical companies have announced significant so called ‘buybacks,’ which benefit shareholders by driving up the value of their stock.
  • Contributions to Republican Party have yielded a great ROI for pharma.
  • This suggests that pharmaceutical companies have used these tax breaks to enrich investors, a decision that comes at the expense of lowering the price of prescription drugs, investing in research and development that could lead to new cures, or passing along savings to consumers.”

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