Pharma companies don’t really care about patients despite all their hubris.
PhRMA has already spent $21 million on lobbying this year — a sum that puts it on course to smash its previous annual lobbying records.
Pharmaceutical companies have been top performers in the healthcare sector in an era of aging populations, rising health care costs, and the ongoing development of new and extremely profitable medicines.
Research shows that 78 percent of patents approved by the U.S. Food and Drug Administration correspond to medications already on the market.
Large pharma companies spend more on share buybacks to boost share prices (and stock options — the main way that executives get paid) than on research and development.