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  Myths & Facts of Pharmaceutical Industry : Episode2 - Industry Profits Bookmark and Share

Table of Contents

 
 Episode 1: Drug Price
  -  Myth: Medicines are expensive in Thailand
  -  Myth: Multinational Pharmaceutical companies can set their own prices

 Episode 2: Industry Profits
  -  Myth: The pharmaceutical Industry is the most profitable industry
  -  Myth: A member of the pharmaceutical industry participated in a THB 1 million per head dinner

 Episode 3: Drug Research & Development
  -  Myth: The pharmaceutical industry invests only 5% in R&D while marketing expenditure was as high as 13%

 Episode 4: Patent and Compulsory Licensing
  -  Myth: Patent prevents access to medicine and results in the high prices of medicine
  -  Myth: CL can be declared in non emergency situations
  -  Myth: The USA, Canada and Italy have all declared CL

Myth: The pharmaceutical Industry is the most profitable industry

Fact:

In comparison to other industries, the pharmaceutical industry is not the most profitale


Detail

  • The Fortune 500:2008 top 10 ranking for the most profitable companies does not include pharmaceutical companies[12]
  • In a comparison of industries, the IT and Network industry was the most profitable at 28.8% of revenue whilst the pharmaceutical industry was 3rd at 15.5% of revenue[13]

 


Myth: A member of the pharmaceutical industry participated in a THB 1 million per head dinner

Fact :

PReMA was not a participant and was not privied to details of the gathering; however, international press coverage accessible via the internet [14]indicated the alleged dinner could be the Epicurian Master of the World Dinner held in February, 2008 the proceedings from which were earmarked for two charitable organizations; one national while the other being Medicins Sans Frontierres (MSF)- an entity highly critical of the pharmaceutical industry

Reference

 

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