1

How Does One of the Most Hated Industries Stay Profitable? by MARTHA ROSENBERG

Pharma is one of the public’s most detested industries. But despite its low approval ratings and a plethora of government lawsuits, Pharma continues to thrive. Here are some of the tricks up its sleeve that enable its continued profiteering.

1. Astroturf Patients

Pharma promotes fake patient advocacy groups to lobby for its interests. These front groups often push the FDA to approve an expensive drug that has acceptable, cheaper alternatives. Or, they’ll try to prevent Medicaid from switching to the less pricey drug. One of the largest faux groups, National Alliance on Mental Illness (NAMI), was investigated by Sen. Charles Grassley for undisclosed Pharma links. He found that three fourths of the group’s donation came from Pharma.

Read More