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Big Pharma

All articles tagged with #big pharma

health6 months ago

Aseem Malhotra Warns of Catastrophic Covid Vaccine Harm

Dr. Aseem Malhotra, a UK-based cardiologist, has become a controversial figure due to his outspoken criticism of Covid vaccines, claiming they caused significant harm and advocating for their suspension. He has ties to RFK Jr and supports a broader critique of big pharma and government influence in health policy, advocating for a shift towards social determinants of health and increased government intervention. His views have led to professional challenges and a prominent role in US health politics, especially within the context of RFK Jr's presidential campaign.

via The Telegraph|
#big-pharma#covid-vaccine#health
politics1 year ago

RFK Jr.'s Potential Impact on Healthcare and Public Health Under Trump

Robert F. Kennedy Jr. is expected to play a significant role in the next Trump administration, raising concerns in the pharmaceutical industry due to his controversial health policies and vaccine skepticism. RFK Jr. aims to "Make America Healthy Again" by targeting synthetic food additives and promoting a healthier lifestyle, but his stance on vaccines and other health issues has drawn criticism. While Trump has expressed support for RFK Jr.'s involvement, there is uncertainty about the longevity and impact of his role, given Trump's history of high turnover in his administration.

via Fortune|
#big-pharma#health-policy#politics
healthcare-pharmaceuticals1 year ago

"Controversy Erupts Over Proposal to Make Antidepressants Available Over the Counter"

Psychiatrist Dr. Roy Perlis has sparked outrage among doctors for suggesting that antidepressants should be available over-the-counter without disclosing his financial ties to antidepressant manufacturers. Critics have accused him of bias and unprofessionalism, pointing out the potential side effects and limited effectiveness of antidepressants. Dr. Perlis holds equity in antidepressant manufacturers and has received fees from several pharmaceutical companies. His proposal comes amid calls for other medications, such as birth control pills, to be available over-the-counter.

via Daily Mail|
#antidepressants#big-pharma#conflict-of-interest
legalhealthcare1 year ago

"Federal Judge Dismisses Big Pharma Lawsuit Against Medicare Drug Price Negotiation"

A federal judge in Texas dismissed a lawsuit brought by pharmaceutical trade group PhRMA, arguing that forcing drug makers to negotiate Medicare drug prices is unconstitutional, ruling that the court lacks jurisdiction. The lawsuit is one of nine from the pharmaceutical industry challenging the price negotiations outlined in the Inflation Reduction Act of 2022. The judge's decision is a small win for the Biden administration, which is defending the negotiations on multiple fronts.

via Ars Technica|
#big-pharma#constitutional-claims#jurisdiction
healthcare1 year ago

"Pharma CEOs Prioritize Profits Over Research and Affordability, Senate Hearing Reveals"

A Senate hearing chaired by Sen. Bernie Sanders revealed that big pharmaceutical companies spend billions more on executive compensation, dividends, and stock buyouts than on research and development for new drugs. The heart of the problem lies in pharmaceutical greed, patent gaming, and powerful lobbying, leading to exorbitant drug prices in the US. A report found that US drug prices are nearly three times higher than in 33 other wealthy countries, with the median launch price of innovative drugs skyrocketing over the past two decades. The CEOs of three pharmaceutical giants were questioned on their pricing practices, highlighting the stark disparities in drug prices between the US and other countries.

via Ars Technica|
#big-pharma#drug-pricing#healthcare
pharmaceuticals1 year ago

"Pharma Giants Face Revenue Loss as Blockbuster Drugs Near Patent Expiry"

Big pharmaceutical companies like J&J, Merck, and Bristol Myers Squibb are facing a significant revenue threat as patents for their blockbuster drugs expire, allowing competitors to sell cheaper copycats. This could result in tens of billions of dollars in lost sales by 2030. Companies are preparing to offset these losses by building drug pipelines, making acquisitions, and entering partnerships. The looming patent cliffs and potential Medicare drug price negotiations pose challenges, but companies are exploring strategies such as developing new drug formulations and settling lawsuits to delay competition and extend patent protections.

via CNBC|
#big-pharma#drug-expirations#medicare-negotiations
healthcare-pharmaceuticals2 years ago

"Rising Drug Prices: Over 700 Medications, Including Ozempic, See Increases"

Pharmaceutical companies have raised the list prices of 775 brand-name drugs so far this year, with a median increase of 4.5 percent, exceeding the rate of inflation. This comes as the federal government is trying to crack down on high drug prices, with the Senate considering subpoenas to force pharmaceutical CEOs to testify on the issue. The price hikes have sparked a Congressional investigation, with some CEOs refusing to testify and accusing lawmakers of retribution for legal action against new regulations.

via Ars Technica|
#big-pharma#drug-prices#healthcare-costs
healthcare2 years ago

Biden Administration Cracks Down on Pharma Companies for Inflated Drug Prices, Benefits Older Americans

The Biden-Harris Administration has announced that dozens of pharmaceutical companies will be required to pay rebates to Medicare for raising prices on prescription drugs faster than inflation. The Inflation Reduction Act cracks down on price gouging by Big Pharma, saving seniors who take these drugs between $1 and $2,786 per dose. The Act allows Medicare to directly negotiate lower prescription drug prices, caps the cost of insulin for Medicare beneficiaries at $35, and requires drug companies to pay rebates if they raise prices faster than inflation. The Administration is also focused on ensuring fair pricing for medications developed with taxpayer funds and is taking steps to increase competition and bring down costs for families. The Inflation Reduction Act has already saved millions of Americans money on health insurance, insulin, vaccines, and prescription drugs, and will continue to deliver cost-savings in the coming years.

via The White House|
#biden-harris-administration#big-pharma#healthcare
pharmaceuticals2 years ago

Big Pharma's Battle: Sanofi Drops $750 Million Maze Deal Amidst FTC Antitrust Lawsuit

The pharmaceutical industry is facing a three-front battle with the Federal Trade Commission (FTC), Medicare, and the White House. The FTC is scrutinizing drug company deals to slow down growing monopolies in the pharma business. The White House is considering licensing drugs developed with federal funding to reduce costs, which has raised concerns about intellectual property rights. Medicare is targeting 10 drugs for price negotiations, leading to lawsuits from pharmaceutical companies. Experts believe that while these actions may send a message to the industry, the long-term odds of success are not great, and the legal system may ultimately decide the outcome.

via Yahoo Finance|
#big-pharma#federal-trade-commission#intellectual-property
health2 years ago

Cracking Down on Counterfeit Drugs: Big Pharma's Battle Against Fraud

Federal investigators have uncovered a nationwide $230 million scheme to counterfeit prescription medications, particularly HIV drugs, in which pill bottles were altered and sold back to pharmacies at a significant discount. The operation, overseen by Lazaro Hernandez, involved altering bottles for popular HIV medications such as Biktarvy and Descovy, as well as other pharmaceuticals. The World Health Organization estimates that up to $431 billion worth of drugs are counterfeited worldwide annually. Gilead Sciences and Johnson & Johnson have filed lawsuits against defendants, including pharmacies and wholesale pharmaceutical distributors, accusing them of participating in the scheme. Drug diversion and counterfeiting pose a significant risk to patient safety, and authorities are investigating the extent of these criminal activities.

via CNBC|
#big-pharma#counterfeit-drugs#drug-diversion
health2 years ago

Unveiling the Hidden Miracles: Big Pharma's Secrets to Diabetes and Obesity

There are no "miraculous" solutions to diabetes and obesity that Big Pharma is hiding. Most people can improve their conditions through regular exercise and a healthy diet, while medications can help those for whom lifestyle changes are insufficient. As for pulmonary hypertension, a specialized test called a cardiac catheterization may be necessary to determine the underlying cause and provide proper treatment.

via OregonLive|
#big-pharma#cardiac-catheterization#diabetes
health2 years ago

Profit Over Lives: Big Pharma's Vaccine Stall for Greed

Pharmaceutical giant GSK prioritized profits over public health by stalling the development of a potentially lifesaving tuberculosis (TB) vaccine in pursuit of a more lucrative shingles vaccine. The TB vaccine showed promising results, preventing over half of those infected from getting sick, but GSK decided to focus on the shingles vaccine, which has generated over $14 billion in revenue since 2018. GSK's decision highlights the broken system that prioritizes corporate interests over the needs of the sick and poor, as TB vaccines are not as profitable since they are mostly purchased by nonprofits and countries with limited resources. This case underscores the need for a new approach to vaccine development that prioritizes public health over corporate profits.

via ProPublica|
#big-pharma#gsk#health
business2 years ago

Snacking Surges as Weight Loss Drugs Gain Popularity: Battle between Big Food and Big Pharma

Food companies like Kellogg's and J.M. Smucker are betting on the growing snacking trend, with the U.S. market for savory snacks expected to grow 6% annually and sweet snacks' sales expected to rise 4.6% annually. However, investors are concerned about the impact of blockbuster obesity and diabetes drugs like Wegovy and Ozempic, which could lead to slower sales for companies producing popular snack brands. These drugs suppress appetites and can create aversions to high-sugar and high-fat foods. While some believe the drugs could impact snack sales, others argue that their high cost and limited coverage by insurers, as well as the fact that they require weekly injections, may limit their reach. Food companies are also investing in healthier options and developing formulations that mimic the taste of full-sugar and salt versions.

via CNBC|
#big-food#big-pharma#business
healthcare2 years ago

The Battle for Affordable Drugs: Big Pharma's Confrontation with Congress

Pharmaceutical companies are opposing a new Medicare program that allows negotiation of lower drug prices, claiming it will limit patient access to medicine and hinder new cures. However, a review reveals that the 10 drugs up for negotiation are already sold at significantly lower prices in other countries. Americans are being charged up to 1,000% more for the same drugs. Despite this, drugmakers are reporting huge revenues from foreign sales. The pharmaceutical industry has filed multiple lawsuits to block the program, but their recent earnings reports suggest they will still profit immensely. The high cost of prescription drugs in the US, which is the most expensive healthcare system globally, is a major factor in poor health outcomes.

via The Lever|
#big-pharma#drug-prices#healthcare