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The Drug Company Profits Compared to the Cost of Manufacturing is Scandalous. 

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The drug company profits compared to profits of similar size companies in other sectors are simply staggering.

As an example, Pfizer’s Chairman made $40.2 million in 2002 alone and this should lead you to imagine the profits these companies make.

The role of any company is profit maximization and drug companies should not be criminalized for making a profit, the problem is making these profits at the loss of others.

An unethical thing that is happening is these companies thriving under calamities, or even creating calamities so that they can have more test subjects.

The massive profits are money from the people who have so many problems in the current economical situation.

The population does not know if it should be buying the drugs, buying food or paying mortgages and the pharmaceutical industry does not seem to care.

Although the pharmaceutical companies are in competition, the drug wars are usually a smoke screen – they are together in the battle to make as many billions as they can from the masses.

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What the Government is Doing to Lower Prices 

The government, through insistence from the public, is trying to lower the prices of most drugs.

The government has created regulatory bodies to regulate the profits and maybe soon drug company profits compared to profits in other industries will be comparable.

The government has passing policy documents and regulations to import cheaper drugs if the pharmaceutical companies around will not lower their prices.

Another thing that the government has done is the passing of regulations and laws for the production of generic version of popular drugs which are cheaper.

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Why the Government Efforts to Lower the Cost of Drugs isn’t Woking

The corruption by pharmaceutical companies is the main hindrance to the government’s efforts to lower the cost of drugs.

The pharmaceutical companies have enough money to fund campaigns of competing candidates and money to pay bribes in the millions to high ranking government officials. 

These pharmaceutical companies have ganged together and any effort to fight them by the government is usually met by unified resistance.

Another reason is that the regulatory bodies are not strong enough to do anything and they need more powers.

Yet another reason is that is that most members of the public believe expensive is better and they buy the expensive drugs and so drug company profits compared to profits by other companies just keep on increasing.

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What the World Can Do to Get a Permanent Solution to the Problem of Expensive Drugs

Regulations with risk of tough financial penalties should be imposed on these companies so that they can conduct themselves ethically.

Such penalties can include cancellation of licenses and all governments in the world should follow through on this for it to work.

The governments can do research independently and come up with new medicines to reduce over reliance on the pharmaceutical companies.

The world can boycott expensive drugs to pressure the drug making companies to sell the drugs at cheaper prices.

Drug company profits compared to profits by other same size companies are simply too much and threat of increased taxation on the profits will surely make them come to their senses.

The governments can take care of top level corruption and make it a policy for those going for the highest offices in the land not to receive campaign and other contributions from pharmaceutical companies.

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