Which is Bigger: Pharma Profits or R & D Spending?

On Mar 27, 2017, Public Citizen came out with a report that claimed"Pharmaceutical Industry Profits Are Nearly Double R&D Costs in 2013, 2014 and 2015". The email announcing the report said “Even the inflated estimates of R&D reported by the industry are dwarfed by the industry ’s profits, which, for the 20 largest pharmaceutical companies, jumped from $100.5 billion in 2014 to $123 billion in 2015.”“Big Pharma says that high prices pay for R&D, but it turns out they pay almost twice as much for sky-high corporate profits, ” said Robert Weissman, president of Public Citizen. “The pricing system is broken and needs fundamental change.”Today, another email from Public Citizen notified me that the organization “discovered a methodological issue in our report on medication costs and industry R&D spending. We have withdrawn the report and will repost it later this week with corrected data. ”Unfortunately, I did NOT download the report, so I can only speculate as to the nature of the “methodological issue.”But I can cite some research that says Public Citizen is wrong.Read more »
Source: Pharma Marketing Blog - Category: Pharmaceuticals Tags: Profits Public Citizen & D Source Type: blogs