Tag Archives: pharmaceutical companies

• The Meager Beginnings of Today’s Top Pharma Companies

  Posted on December 29, 2011 by charlie in great

  Back in ancient times, the garden and old-fashioned remedies were the standard medical suppliers for many of mankind’s illnesses. In your granny’s day, she probably relied on the old drug store down the street. Today, powerful pharma companies control not only their own sector, but also the medical establishment as a whole. The history of these medicinal manufacturing giants is a fascinating study that provides insight into many medical decisions today.Pharmaceutical companies really did not gain a major following until the late 19th and early 20th centuries. In fact, most drug stores before this dawn of medicine were described as quacks, witchery, and generally phony. Those that were not classified so were generally found in the East, run by Arab Islam traders who gradually began moving toward the west. Throughout colonial times, “drug stores” were popular but supplied many common cures of the time. Arabs in the Middle ages believed that Allah had provided them with a cure for every illness. The only trouble was that they had to go out and find them. For this reason, early medical scientists kept copious notes that allowed information to be passed on to the next generation. It was also during these times that Arabs made other great strides in the medicinal world, including the building of hospitals, the development of surgical science, and the inclusion of women in medicinal practice. Through the Crusades and other events that led to the expansion of the West, this knowledge was passed on to Europeans Read more »

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• Pharmaceutical Companies: Where Does the Money Go?

  Posted on October 10, 2011 by charlie in great

  It is quite easy to demonize pharmaceutical companies. After all these businesses largely profit by charging money for things that others desperately need. With that said the profits earned by these corporations do serve at least a few legitimate purposes. While tales of CEO overpayment are quite common few stop to think about the real costs associated with producing drugs. A good deal of the profits earned goes towards satisfying federal regulations researching new drugs and paying those that work for the companies. While these expenditures do not account for every penny earned they do go a long way towards showing why these companies charge as much as they do.ResearchThe line is touted over and over again but there is a great deal of truth to the idea that ‘big pharma’ puts a rather large percentage of its spectacular profits into research. This is somewhat less humanitarian in nature than the companies would like you to believe but still understandable; if pharmaceutical companies fail to come up with wonder drugs they fail to turn a future profit. It is also important to note that a fair bit of research comes to nothing leaving these companies with millions (and sometimes billions) of dollars in research with absolutely nothing to show for the effort.OverheadEvery company has its expenses and pharmaceutical companies are certainly no exception. While CEO salaries often border on the absurd there are still an astonishing number of people that must be paid for every drug on the Read more »

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