But as the table below shows, drug companies spend far more on marketing drugs - in some cases twice as much - than on developing them. Last year, US giant Pfizer, the world’s largest drug company by pharmaceutical revenue, made an eye-watering 42% profit margin. With our products we contribute to the health of people, animals and plants.
In response to this growing public health crisis, Opiant is developing a robust clinical pipeline of products to treat substance use and eating disorders. Of the 170 DSM panel members 95 (56%) had one or more financial associations with companies in the pharmaceutical industry. Rather than consulting with companies to determine the optimal use for their products, NJ physicians will have to pay close attention to their payments or find outside work in the legal industry suing or defending those companies.
Research: any study assessing the safety or efficacy of prescribed products administered alone or in combination with other prescribed products or other therapies, or assessing the relative safety or efficacy of prescribed products in comparison with other prescribed products or other therapies, or any systemic investigation, including scientific advising on the development, testing and evaluation, that is designed to develop or contribute to general knowledge, or reasonably can be considered to be of significant interest or value to scientists or prescribers working in a particular field. Promotional activity: any unaccredited activity, meeting, or program organized or sponsored by a pharmaceutical manufacturer, or the manufacturer’s agent, that is directed at prescribers to promote the prescription, recommendation, supply, administration, use, or consumption of the manufacturer’s products through any media or medium. Starting January 15, 2018, all contracts and payments entered into by physicians directly with the pharmaceutical industry will be subject to a $10,000 total yearly cap for New Jersey physicians with all pharmaceutical companies.
In an unusual administrative move - without passing any new laws - on December 22, 2017, the Attorney General of New Jersey finalized new rules governing physician interactions with pharmaceutical companies. It may be time to nationalalize pharmaceutical production. “Meanwhile, pharmaceutical companies continue to make a killing.” (So to speak) Making killings is the entire point of Big PHRMA (if I have that acronym correct?) Bit PHRMA is a very long-time disgrace.
One way to lower naloxone prices is for government to take action against pharmaceutical profiteering across the board by directly negotiating lower prices directly with the companies. The price spikes have received surprisingly little media scrutiny, given the widespread coverage of the opioid crisis and the viral outrage over drug company greed, from pharma bro Martin Shkreli to Mylan’s profiteering from EpiPens (as mentioned above, Mylan also produces naloxone). Last January, NIDA Director Dr. Nora D. Volkow told the Senate Judiciary Committee that more market competition is expected to help bring down the cost of naloxone products and increase their distribution.”