Leeds 1
Patrick Thornton
American Federal Government
9 February 2019
Big Pharma
1. Think of me (kindly) as a 14-year old full of curiosity about the world we live in. Fully (and simply) explain to me what you have just read so that I can understand it. (Explain "Big Pharma's big lie", aka, the myth of free-market capitalism.)
Trump's budget for 2019 included deep cuts to the budget of two publicly funded labs,
who conduct the bulk of the country's basic research to new treatments. The drugs made by these entities are patented by corporations who mark up the price of them by 1,000 times. According to the Center for Integration of Science and Industry, all the medicines approved by the FDA between 2010 and 2016 came out of research supported by the National Institute of Health. With the leftover profits after bonuses and marketing campaigns, the corporations pay politicians to cover it up. Dean Baker estimates that if the government funded the testing and development of drugs for about $50 billion annually and then sold them, Americans would spend 80% less on prescriptions than they do now.
2. According to the "Pharm Myths" chart above, how much does Big Pharma spend for R&D?
According to the "Pharm Myths" chart, Big Pharma spends $130 million on research and development.
3. According to the chart, how much does Big Pharma spend on advertising and marketing?
According to the chart, Big Pharma spends $40 billion on advertising and marketing.
4. How much does Gilead Pharmaceutical charge for a 12-week course of treatment for hepatitis c?
Gilead Pharmaceutical charges $100k for a 12-week course of treatment for Hepatitis C.
5. How much does it cost Gilead Pharmaceutical to produce that 12-week course of treatment?
It costs Gilead Pharmaceutical $100 to produce that 12-week course of treatment.
6. How much in profits have been "raked in" by pharmaceutical corporation from hep c medicines?
Pharmaceutical corporations have "raked in" $70 billion from Hepatitis C medicines