dopes in drugs

Yves Smith:

One of my many pet peeves is drug marketing. Even though Big Phama likes to tout how much it spends on R&D as a justification for high drug prices, it spends more on marketing as a percentage of revenues than it does on R&D.

Think about it: in what other industry are the margins high enough to support in person selling to small business?

Drug companies are masters of this art: …over 88% of the so-called ‘new drug applications’ in the last 10 years have not been for new drugs, but new uses for existing drugs, and to extend the patent on existing drugs.