Financialization of the U.S. pharmaceutical industry

By Yves Smith

“Yves here. This article is a bit geeky but very much worth your attention. It shows how pharmaceutical companies are flat out lying when they say they need higher drug prices to support R&D. Their profits go almost entirely to buybacks and dividends. And this analysis does not incorporate another unflattering fact: that Big Pharma spends more on marketing than research. It also describes how government funding of drug research has increased more than three times in real terms since the 1980….as executives have lined their pockets”…

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