LAWYERS, DRUGS & MONEY by Rick Scott
In a previous rant I went on about the never-ending stream of prescription drug commercials on television and their advertising budgets. Because of the commercials I focused mainly on the weight loss, and cancer treatment drugs. (Is it just me or have those commercials diminished?) Anyway, there is one more class of drugs that should have been included. Vaccines. But why didn’t I include them in my previous rant? Simple.
Very few if any commercials. Most of the vaccines don’t need advertisement. The government ensures high sales numbers by mandating their use. The list of “shots” required for kids these days was unbelievable, as are the potential side effects. (Sounds like that requirement may change soon.) We can dig into that another time but today let’s talk money.
Back in the late 90’s we saw the introduction of the first ED drugs. Viagra for example was the sales blockbuster with first year sales of 1 BILLION DOLLARS. Yes, Billion with a “B.” Peak sales occurring in 2012 at 2 Billion dollars. With patent rites expiring, and other manufacturers getting in the game, Viagra sales “drooped.” As of 2024, total sales for ED drugs had grown to a whopping 4.5 Billion dollars annually. Seems like a lot of money but read on. This is chump change.
What about pain relievers and cold and flu remedies. If you lump all these drugs together, the global sales were around 35.6 Billion dollars for 2024. Another common drug, Amoxicillin, had annual sales of 4.8 Billion dollars. Again, these sound like huge amounts, but when you split those numbers up by dozens of manufacturers, it pays the bills but again, not huge. That’s why most of these drugs are made in India and China. With cheaper labor and fewer regulations, they have higher profits than US companies. (There is one US company that has started making Amoxicillin again, and Bayer still makes some aspirin here.)
Now for the big bucks. For about a decade Cancer treatment drugs, the PD-1 inhibitor class were the top sales drugs in the world. They were first approved in 2014 for the treatment of Melanoma. In 2019 they were approved for the treatment of nine other forms of cancer with more to follow. In 2024 the annual sales were just over 40 Billion dollars. Yes, forty Billion dollars for a hand full of drugs from a hand full of manufacturers.
Next in line we have the new phenomena of the GLP-1 drugs. You know the happy people dancing and singing the praises of their weight loss drugs. This drug class was first introduced in 2005 for the treatment of Diabetes. In the 2020’s they gained attention for their potential use in treating obesity, cardiovascular disease, and neurodegenerative disorders. Actually, side effects of their original intended use. Crowned as the new king of drug sales, the GLP-1 drug class did just over 50 Billion dollars in sales for 2024. (Ozempic accounted for 17 Billion by itself.) GLP-1 drugs are forecast to reach sales of 100 Billion dollars annually within the next 5 years.
Coming in at third place in 2024 are the vaccines. The suggested or required “shots” not to include the Covid jab. This drug class had 83 Billion dollars in sales, with 37 Billion of that in the US. Ok so why do I say it’s in third place? Simple, there are nearly 100 different vaccines available by nearly as many manufacturers. Well not quite that many, but you get my point. Broken down that way these drugs are not the blockbusters, but like I said earlier, with no advertising cost, and no liability thanks to the government back in the 80’s, profits are great!
Ok, just for fun lets throw in the Covid jab. In 2022 sales for the big three manufacturers was 57.7 Billion dollars. In 2023 that number jumped up to 62.7 Billion. Both years were led by Pfizer. Imagine that. As the Covid scare died down, and the side effect claims grew, the 2024 sales figures fell way off. Found most manufacturers are now doing limited production of these vaccines or have stopped all together. Just in case you’re keeping track, most of those Billions came from your tax dollars.
So where do we go from here. I just gave you a lot of information that can lead us in different directions. Mandatory vaccine programs to look at. Pandemics to research. Treatments for various diseases. Let’s go there for now. I say treatments as opposed to cures. For years people have said, “why can’t they cure the common cold?” I think I gave you 35.6 Billion reasons. There’s no long-term money in a cure. Is the same thing true for Cancer? There is ongoing research for a cure, but not by the big drug companies. Why would they with 40 Billion reasons not to. Again, there’s no long-term money in a cure.
Weight loss drugs? Same story! Vaccines? No advertising required, 83 Billion dollars in sales annually. No liability issues. Why find a cure with that sweetheart of a deal?
So now that I’ve beat up the drug companies, and the government, I must admit there are some good things too. A lot of these drug treatments do work wonders in the control of many diseases. Cancer, diabetes, and obesity are just a few. In most cases they don’t cure but may help prevent and or control symptoms. I guess that’s better than nothing. There are literally thousands of drugs on the market. Of those, in 2024 alone, the 50 top selling drugs had over 390 Billion dollars in sales. Yes just the top 50. Just imagine what could be done with a fraction of that money if it were spent on prevention or cures for these diseases.
A fairy tale, probably. Is it possible? I believe so. Is it probable? Not a snowballs chance in hell!
Call me cynical if you will but follow the money!
