Who would have thunk it? Drug companies spend more on advertising than research? A big part of the problem is direct to consumer advertising where drug companies attempt to market to the patients, who then go to their doctors requesting this medicine. In most cases, a generic alternative is available for pennies on the dollar in place of the name brand television/magazine advertised drug.
That’s hardly a new contention, but a pair of researchers have attempted to inject a new analysis into the debate. And so they contend their findings indicate drugmakers spend almost twice as much on marketing and promoting their meds than on R&D, according to their study, which is published in PLoS Medicine.
They analyzed data from IMS and CAM and found that drugmakers spent $57.5 billion on promotional activities in 2004. By comparison, spending on industrial pharmaceutical research and development in the US was $31.5 billion in the same year, according to a report by the National Science Foundation, which included public funding for industrial research…Read the whole article here at Pharmalot Blog