Join Today & Get 4% Cash Back Then 6, 7...Up to 10% Off Reorders!

May 29, 2008, 12:46 pm
Flag as Inappropriate sicnarf  

I haven't done an Internet search for this, yet, but I wonder if the large pharmaceutical companies make as much profit as the oil companies? I work for a company where I always see the drug reps come in with fancy lunches and gifts so they can educate medical staff about the latest and greatest meds. It's really nice to know that when I pay for my meds, the money is going to pay for meals, gifts and even special trips for medical professionals (note sarcasm).

I'm not sure they have as much of a profit margin as oil companies. After all there is no such thing as generic gas while there is generic meds which decrease the profit margin unless the company owns both the generic and regular. So while they may seem to spend on useless things they do need to win clients to their products over another or generics.

I don't know about the profit margins specifically but you know they have to be huge. Medications are so expensive! And most of the generics are made by the same companies that make the brand names. It's just like buying generic foods - they are usually just the brand names with a private label on them.

I don't think they make as large a profit as the oil industry, after all the oil people are just taking it in as much as they want to charge and we all dance to their tune.

The drug industry does make lots and lots of profit, but they do have to do research on trying to find new and better drugs to charge us for.

Just remember that the same drugs that we take that we spend dollars for is the same drugs they give animals for just pennies.

Don't weep for them though, we dance to their tunes too.

I know they do make a bucket load, though Im not sure there is a way to really compare the two with proper statistics w/o working for either to get that type of info.

I'd think that oil companies get paid a lot more. Oil is expensive and hard to work with. I know if I was working in an oil company I'd like to get paid good money!

I don't think they make as much money, but they do make a good deal. If they didn't they wouldn't keep making new meds when there is one that is already doing a good job. The doctors are in callobaration too, as they prescribe the latest new meds.

Hi All,

Read this article and you should be able to draw your conclusions. :-)

trish

http://www.fiercehealthcare.com/story/harvard-psychiatrists-fail-to-reveal-millions-in-pharma-pay/2008-06-09

I do not think there is such a thing as healthcare anymore. How can there honestly be? It's all about Money and Power. Although here and there, you will find a member of the medical society who is genuine and sincere.

As far as a cure for some of these terrible fatal diseases; business wise it would be a very fatal decision for the company. These illnesses, (eg cancer, aids) are big money makers, as well as a savings to programs that will not have to pay out retirement benefits if the person dies.

In fact, similar article was in the latest AARP Bulletin regarding Preventitive Medicine. I forget the Pro, but the Con was the fact that people would live too long.

Does one really know what is going on? It baffles me to wonder with all the brains out there involved in technology (of which some seems to be majic to be able to be accomplished by 2 digits, 1 & 0), how can there not be the same brains for scientists and researchers to have not found cures?

Now, I am not accusing anyone of anything, I just can not comprehend it.

trish