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The Big Fix: How The Pharmaceutical Industry Rips Off American Consumers (Publicaffairs Reports)
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Sales rank 581,320
Customers rating (based on 12 reviews)
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A meticulously reported expose uncovers exactly how the drug industry boosts sales and bilks consumers in the most lucrative prescription drug market in the world. As the pharmaceutical industry invests more and more in the development of new drugs, true breakthroughs are few and far between. Into the breach comes a panoply of product-line extensions and me-too drugs aimed at grabbing market share. The industry plows its high profits back into research, but invests an equal or greater sum in flogging its products in every imaginable venue. Research studies are designed to support marketing claims. Many doctors all over the country get their first information about new drugs from a salesperson. And, increasingly, prescription drugs are pitched to consumers on TV and the internet with images of hope, terror, or chic. Evidence-based practice guidelines, which endeavor to get the right medicines to those who will benefit most, can't be heard over the din. Having created an unprecedented number of "megabrands"--blockbuster drugs with huge sales--and undergone an extraordinary wave of consolidation, some drug companies now find themselves in a precarious position. Patents are expiring on flagship products. In order to sustain the growth Wall Street has come to expect, these companies must produce billions of dollars worth of new revenue--fast. But can Americans continue to bankroll Operation Grow Big Pharma? Must we swallow the bad with the good?
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| Publisher | PublicAffairs | | Release date | 05/2003 | | Availability | Usually ships in 24 hours | | Edition | Paperback |
| | List price | $14 | | Our price | $13.3 (you save 5.00%) | | Used price | from $0.19 |
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 Good points with good examples
This short book is a compilation of complaints against the US pharmaceutical industry (Big Pharma) and how it rips of American consumers and taxpayers. The points presented are as follows.
1. Big Pharma uses advertising to get consumers to buy the latest and most expensive drugs when cheap, generic ones often do the same or better job.
2. Big Pharma uses lobbyists to get lawmakers to extend patent protection for drugs about to lose patent protection.
3. Big Pharma benefits from a lot of federal research dollars, and reaps huge financial rewards from patents on ensuing drugs.
4. Big Pharma actively lobbies doctors to get them to use their drugs.
5. Big Pharma has gradually taken control of the R&D part of the industry, to the point that research data is often edited or massaged to make the drugs look good and cover up negative data.
6. Big Pharma uses all sorts of kickbacks and marketing tools to force people to buy the most expensive drugs in each class.
7. Big Pharma creates medical conditions thru advertising, in effect creating customers for their creations.
Many of these complaints are raised in other texts, but none as short and polemic as this one. The big is a quick read, and uses a lot of real life examples. Unfortunately, the book is somewhat incomplete; it should have provided tables and charts with more statistical data. There should also have been a chapter describing the entire process by which a new drug is created, tested, marketed, and finally distributed to consumers. All in all, an OK book.
A lot needs fixing
In 30 yrs. of working as a retail pharmacist I have heard my fair share of "bitching" about drug prices as the Denver Two Step refers to. People don't take care of themselves and many have at themselves to blame, in part, for the high prices they pay for drugs. This hardly leaves the pharmaceutical manufacturers off the hook, though. While they do spend many millions developing a new drug that makes it to the marketplace, they spend three times that amount in promotions and advertising for each such drug. Even foreign manufacturers set up plants in the U.S. because this is where the money for pharmaceuticals is made. Why do American drug companies charge American pharmacies much more for drugs than they do foreign pharmacies? Why do Americans travel to Mexico and Canada for drugs? You really can't blame a company in America for making profits; that's what capitalism is about. But it seems that 30 years ago, ethics was almost as important as profit, even in the drug industry. Drug companies have in part taken advantage of the pendulum swing from the days when the doctor "knew all" and the patient nothing to the current direct to consumer drug advertising that seems to maximize drug benefit and minimize drug adverse reactions to a public that is too willing to take a pill rather than do the things Ms. Denver points out which requires effort and behavioral change. Change by both the consumer (lose weight, exercise, decrease drug demand etc) and the drug companies would seem desirable. Drug company influence in Washinton is disproportionate to the 8% of medical costs they account for and with the Leapfrog and other "influential" groups behind them, they peddle way too much influence with an extremely large number of influential lobbyists. American consumers are getting "ripped" but they are complicit in the process too often. Blame is easier than change.
 American Road Kill
The U.S. ranks #1 in amount of healthcare spending per person yet 37th in healthcare performance (World Health Organization). We are second-to-last of industrialized countries listed in disabled persons earning capacity (annex to Society-at-a-Glance 2002) and 17th in life expectancy (U.S. Department of Health and Human Services). Editorialist Nicholas Kristoff cites the C.I.A. World Factbook ranking the U.S. 42nd in infant mortality, a "national disgrace....that the average baby is less likely to survive in the U.S. than in Bejing or Havana" (New York Times; 1/12/05). According to Dr. Kenneth Liegner's testimony before the New York State Assembly Committee on Health (11/27/01), a 7-year-old Lyme disease patient was kept alive on expensive medication until, due to insurance company policy, "she died within one month of cessation of intravenous antibiotic treatment." Liegner adds, "Metropolitan Life Insurance Company had an important formative role in the creation of the National Institutes of Health. This raises the issue of possible ongoing undue influence of the insurance industry in setting national public health priorities".
On the other hand, although the U.S. is the only industrialized country with no pharmaceutical price cap, "The National Institutes of Health said rules designed to reduce conflicts of interest at the agency went too far. So instead of barring thousands of employees from owning stock in pharmaceutical and bio-technology companies, only about 200 senior employees will be affected...." ('NIH Revises Ethics Rule on Stock Ownership'; USA Today; 8/26/05). So it's not only insurance companies influencing public health policy.
Consider these non-profit healthcare CEO salaries buried in the 'Money' section of USA Today: Catholic Healthcare West CEO--$1 mil. + $896,000 expenses/allowances; Memorial-Sloan Kettering CEO--$2.3 mil. "with 2 surgeons making $1.6 mil. each"; Kaiser Permanente's Foundation Hospital outgoing President--$7.4 mil.; and Universal Health Services CEO--$16.2 million dollars in 2003 ('Non-profit Hospitals Top Salaries May Be Due For a Checkup'; USA Today; 9/30/2004).
Non-profit funds are procured under the guise of altruism but become organizational charity theft when used for extravagant salaries. The rationalization is that such salaries are necessary to attract leading professionals within a competitive system, and are a drop in the bucket compared to overall healthcare costs. But isn't that a most terrible commentary on America to say the economy demands we act as pigs with the charity money? Tragically, "Right-to-Life" proponents oppose universal healthcare, practicing socio-economic Darwinism in creating more American road kill.
The Big Fix:
This book made it much clearer to me how the pharmaceutical companies operate. Everyone should read this who takes prescription medications. A must read for all!!
SCREW YOU, JERRY FALWELL!
This is my personal response to anyone else throwing darts at this book by Katherine Greider. Let it be from now on that you eiether agree with Mrs. Greider on this issue, or you side with the Big Pharma terrorists.
As her father, the great muckraker William Greider demystified the U.S. Federal Reserve, K. Greider demystifies the big drug companies with their claims that they must have their way with public policy.
It would seem that a President who purports to be "pro-life" would waste no time pushing some PRICE CONTROLS so people could afford the prescription drugs they need.
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