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Pharma overtakes arms industry to top the league of misbehaviour
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Pharma overtakes arms industry to top the league of misbehaviour
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GlaxoSmithKline's $3bn fine for mis-selling drugs in the US is the biggest ever handed down, but analysts say it is a drop in the ocean compared with the profits from medicines http://www.guardian.co
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Forums » Off duty » General » Pharma overtakes arms industry to top the league of misbehaviour

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Pharma overtakes arms industry to top the league of misbehaviour

posted at 8/7/2012 9:14 AM BST on bmj.com
Posts: 311
First: 7/5/2009
Last: 2/4/2013
GlaxoSmithKline's $3bn fine for mis-selling drugs in the US is the biggest ever handed down, but analysts say it is a drop in the ocean compared with the profits from medicines

Re: Pharma overtakes arms industry to top the league of misbehaviour

posted at 8/7/2012 10:33 AM BST on bmj.com
Posts: 958
First: 15/7/2011
Last: 15/5/2013
Drrathore, what a disgraceful set of affairs where there is so much dishonesty and greed in these companies. As the article points out the $3 billion dollar fine is peanuts to these gigantic companies whose turnover and profits are phenomenal. There must be some regulation introduced which is effective in ensuring that drug companies must act according to a set of ethics and rules. I hold out little hope that this will happen because the companies also pay a great deal of tax which the government wants and aslo employ a lot of people.  Surely it isnt too much to ask that drug companies research and publish all the data on medicines they want to market including any papers which have negative findings about the drugs. I am very naive I know in expecting that to happen, but perhaps if individuals in the company where held accountable for their practices things just might change. But again as we see with the banking industries when the bosses resign they get vast payment (millions of pounds) to send them on their way. That it no punishment at all.

Re: Pharma overtakes arms industry to top the league of misbehaviour

posted at 8/7/2012 2:39 PM BST on bmj.com
Posts: 311
First: 7/5/2009
Last: 2/4/2013
In Response to Re: Pharma overtakes arms industry to top the league of misbehaviour:
Drrathore, what a disgraceful set of affairs where there is so much dishonesty and greed in these companies. As the article points out the $3 billion dollar fine is peanuts to these gigantic companies whose turnover and profits are phenomenal. There must be some regulation introduced which is effective in ensuring that drug companies must act according to a set of ethics and rules. I hold out little hope that this will happen because the companies also pay a great deal of tax which the government wants and aslo employ a lot of people.  Surely it isnt too much to ask that drug companies research and publish all the data on medicines they want to market including any papers which have negative findings about the drugs. I am very naive I know in expecting that to happen, but perhaps if individuals in the company where held accountable for their practices things just might change. But again as we see with the banking industries when the bosses resign they get vast payment (millions of pounds) to send them on their way. That it no punishment at all.
Posted by kirked

Well said Kirked. There should be more accoutability for these big pharma businesses as their corrupt practices directly result in increased morbidity and mortality for the patients.
At the same time , WE, the doctors also need to reconsider our level of interaction and dependence on these pharma companies.

Re: Pharma overtakes arms industry to top the league of misbehaviour

posted at 8/7/2012 3:59 PM BST on bmj.com
Posts: 3037
First: 27/3/2012
Last: 18/5/2013
I completely agree with drrathore & Kirked. It is shameful on part of the pharmaceutical 'giants' & they have been misleading us since a very long time. It is also a noticeable fact that these companies have a strong backup at the political levels as well as at the highest healthcare authority levels!
This phenomenon of corruption at the highest levels is a universal, affecting particularly the developing countries.

Re: Pharma overtakes arms industry to top the league of misbehaviour

posted at 8/7/2012 5:14 PM BST on bmj.com
Posts: 1280
First: 9/12/2011
Last: 14/5/2013
I think the answer here is some form of oversight from Govt in the form of financial penalties.   Maybe I'm wrong, but everything else is penalised with fines.  Running a red light, or speeding is a hefty ticket in the USA.  so why not Pharma companies?     Reduce their wallet size and compliance follows.   DuaneF

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