As we well know by now – when it comes to Big Pharma, what you see (or hear) isn’t what you actually get. From finger pointing to price gouging, we know drug makers can’t be trusted.
Drug prices are out of control, with the average American spending $1,200 per year out-of-pocket on prescription drugs. But Big Pharma? They are posting record profits. In fact, the ten largest U.S.-based Big Pharma drug manufacturers combined pulled in a colossal $245 billion in revenue in just one year.
As prescription drug prices continue to climb, causing one in four Americans to not be able to afford their medications, do you ever wonder how Big Pharma spends all those dollars? Here’s a quick look:
When we took a hard look at how Big Pharma actually spends its money, the findings undercut Big Pharma’s favorite excuse: that higher prices and sky-high revenues are required to fund research and development (R&D) on new cures and innovations. Our study found Big Pharma invests more boldly in advertising, corporate overhead and profits (46 percent) than R&D (22 percent) by a margin of more than two to one:
Unfortunately for Big Pharma, the math just doesn’t match the rhetoric.
See more of the latest Big Pharma news here.