The largest U.S. pharmaceutical and biotech companies spend just 22 cents out of every dollar on research and development, according to an analysis released today by the Campaign for Sustainable Rx Pricing. The study, conducted in partnership with GlobalData, combined publicly available financial disclosures with market research on sales and marketing spending for the 10 largest U.S.-based pharmaceutical and biotech companies for which prescription drug sales represented at least half of revenue. “Big Pharma likes to hide behind R&D as an excuse for price-gouging American patients and exploiting monopolies, but the math just doesn’t add up,” said CSRxP Executive Director Lauren Aronson. “Big Pharma is investing more boldly in profits, advertising and corporate overhead than in researching new cures.” The AHA is a founding member of CSRxP.

Related News Articles

Headline
The California Office of Statewide Health Planning and Development recently released the nation’s first mandatory data on wholesale acquisition cost increases…
Blog
A recent report from UnitedHealth comparing specialty drug spending in hospitals and independent physician offices fails to account for critical differences…
Headline
The House Energy and Commerce Committee today approved legislation to address surprise medical bills and Medicaid disproportionate share hospital cuts.  …
Headline
A federal judge yesterday struck down a Centers for Medicare & Medicaid Services final rule requiring drug companies to include list prices in direct-to-…
Headline
The House Energy and Commerce Subcommittee on Health today held a hearing on seven bills aimed at improving transparency in the drug supply chain to lower…
Headline
The Centers for Medicare & Medicaid Services May 16 released a final rule with the intent of lowering drug prices for beneficiaries enrolled in…