I mean, paying fines for malpractice is 1% of that R&D figure in the USA alone. Is that unusual in a technological industry?
Some fun figures:
From 1991 through 2017, a total of 412 settlements were reached between the federal and state governments and pharmaceutical manufacturers, for a total of $38.6 billion. For 2016 and 2017, 38 settlements for a total of $2.9 billion occurred.
The continued low levels of financial penalties in 2016-2017 were primarily due to a continued decrease in financial penalties (almost all federal) from settlements involving unlawful promotion of prescription drugs. Such penalties have declined drastically, by 94%, since their peak in 2012-2013 – from $8.7 billion then to just $527 million in 2016-2017.
From 1991 through 2017, overcharging of government health programs (mainly drug pricing fraud against state Medicaid programs) was the most common violation, but the number of settlements involving this violation has decreased dramatically in recent years, with just three federal or state settlements involving overcharging of government health programs in 2016-2017 and eight settlements in 2014-2015, compared with 78 such settlements in 2012-2013.
Qui tam (whistleblower) revelations, brought mostly under the False Claims Act, were responsible, at least in part, for 92 of 170 (54%) federal settlements, and $24.7 billion of $34.8 billion (71%) in federal penalties, from 1991 through 2017.
From 1991 through 2017, GlaxoSmithKline and Pfizer paid more in financial penalties — $7.9 billion and $4.7 billion, respectively — and reached more settlements (32 and 34, respectively) with the federal and state governments than any other companies. Johnson & Johnson, Teva, Merck, Abbott, Eli Lilly, Schering-Plough, Novartis, Mylan, and AstraZeneca were the other companies that paid more than $1 billion in financial penalties from 1991 through 2017, with Teva and Mylan having joined the $1 billion list over the past two years. Thirty-seven companies have entered into multiple settlements with the federal government from 1991 through 2017, with Pfizer (14), GlaxoSmithKline (9), Novartis (9), Bristol-Myers Squibb (8), Teva (7), and Merck (7) finalizing the most federal settlements.
I'm sure I recognise some of those names from press releases about covid vaccine trials.
So, can we stop the make-believe? The pharmaceutical industry is run by shady sleazy fuckstains who lie and kill people to increase their profits. We all know that, and normally accept it. There's no need to close ranks and circle the wagons just because the link to valid criticism made in a major UK newspaper was posted by an account that also posts pro-China b.llsh.t and general trolling. FFS.