How Big Pharma’s Money is Affecting Our Health and Our Wallets

By | January 14, 2017

If you or a loved one has been prescribed a drug under Genentech Inc., including Valium, Klonopin and Xenical, you may be interested in the facts outlined below.

Genentech Inc. spent $388 million in payments to 1,888 doctors to prescribe their drugs – and while they are the biggest spender, they aren’t the only player.

From August 2013 to December 2014, pharmaceutical companies spent $3.49 billion in disclosed payments to teaching hospitals, companies and a total of 681,020 doctors, with the top earners practicing family medicine, pediatric critical care, orthopaedic surgery, cardiovascular disease and neurological surgery – a chilling realization that some of the most important facets of our healthcare system are influenced by “big pharma.”

The Law Firm created the below infographic to showcase data released from a recent ProPublica report. This information is now available thanks to a new law requiring pharmaceutical companies to disclose these payments. The effects of big pharma’s influence on American health and finances is appalling.

Americans spend $1,112 per capita on prescription drugs – more than any other country –  compared to $772 per capita in Canada, and $279 per capita in Mexico. As well, the average yearly prescription for Americans was found to be 12 for adults, four for children and a whopping 27 for seniors. This means the effects range far beyond health, with an impact on finances. In 2014 alone, Americans filled $4.3 billion worth of prescriptions and spent a total of $374 billion – up 13% since 2013.

The solution to this problem is outlined in the infographic. TheLawFirm.com suggests taking a conservative prescribing approach. This approach focuses on prevention, education and strategic prescribing and research, first outlined by Dr. Gordon Schiff.

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Check out the below infographic to learn more about the influence of big pharma on our doctors, hospitals, and ultimately, our health.

How Big Pharma’s Money is Affecting Our Health and Our Wallets

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