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Originally Posted by nomadking
Sound unfamiliar?
Pharmaceuticals have come a long way and expanded enormously since then. The costs of developing them has increased more than exponentially since then.
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At the end of last year, over14 Pharma companies posted over $1 billion dollars in profit (that's after all expenses, including the large (up to 15%) R&D budgets).
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Here are the 14 pharma companies that posted at least a $1 billion profit:
1. Pfizer ($4.1 billion)
2. Johnson & Johnson ($3.9 billion)
3. AbbVie ($2.75 billion)
4. Sanofi ($2.59 billion)
5. Gilead ($2.1 billion)
6. Merck ($1.95 billion)
7. Bristol Myers-Squibb ($1.9 billion)
8. Amgen ($1.86 billion)
9. GlaxoSmithKline ($1.84 billion)
10. Novartis ($1.62 billion)
11. Biogen ($1.44 billion)
12. Novo Nordisk ($1.38 billion)
13. Eli Lilly ($1.15 billion)
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https://www.beckershospitalreview.co...s-over-1b.html
Historically, profits have risen.
Some interesting facts from Fortune magazine -
http://fortune.com/2019/03/01/drug-c...es-rd-profits/
Quote:
As a result, even with major R&D spending, pharmaceutical companies remain highly profitable.
They have the tenth highest average after-tax profit levels of more than 100 different industries. And according to figures from Axios, while drug companies bring in 23% of health care’s U.S. revenue, they make 63% of the total profits.
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(I will declare an interest - my brother-in-law has worked for Big Pharma/Biotech* for the last 26 years, after his 10 years in Academia).
*Pfizer, Teva, Regeneron (joint R&D with Sanofi)