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October 8, 2015

Title: Why People Don’t Trust Drug Companies
Topic: Drug Company Lies

Discussed by Peter Pitts
with The Center for Medicine in the Public Interest (www.CMPI.org)

Part 1 of 2

People detest drug companies almost as much as they detest health insurance companies. The reasons why are endless. Peter Pitts  is the President and co-founder of The Center for Medicine in the Public Interest. CMPI is a nonprofit, nonpartisan research and educational organization that seeks to advance the discussion and development of patient-centered health care. “Over the last fifty years, the average life-span of the American male has increased by ten years, largely due to new pharmaceuticals,” Peter Pitts reveals.

Peter also discusses how “the pharmaceutical industry spends $50 Billion every year researching and developing new drugs, most of which don’t ever come to market.” What the public doesn’t realize, however, is how difficult it is to actually develop a life-saving drug. It isn’t just “wham-bam! Here’s a new drug to help you!” The process is long and detailed and costs money.

Many people also believe that research and developers are just raking in the dough. This is absolutely false. While most do make a handsome salary (because they are smart people and have multiple degrees), the companies spend so much money trying to develop drugs to help people that they barely make a profit on the ten percent that are actually approved by the FDA!

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Title: Part 2 of 2 - Why People Don’t Trust Drug Companies
Topic: Drug Company Lies

Discussed by Peter Pitts
with The Center for Medicine in the Public Interest (www.CMPI.org)

Do you know how the FDA regulates the sale of prescription drugs, including the generic brand? Is the number of generic drugs sold in America really important? Does the FDA have its own research lab to test drugs?

80% of all drugs now sold in America are generic. This is great for consumers because it brings the cost down! However, Peter Pitts points out that while generic drugs are well regulated by the FDA and most are safe and effective, they are not identical to the brand name drugs. “It’s important for your doctor to understand not just what drug you’re taking but the manufacturer.” Sometimes the generic brand is not the best solution. Peter explains in more detail how a generic drug is developed, comes out on the market, and the risk factors.

“Information is power,” Peter says. He urges all patients to do their own research when their doctor prescribes a new drug for an illness. Sometimes, a pharmacist will substitute a generic brand without getting permission from the doctor so they can save the patient some money. While this is very noble of the pharmacist, it can be potentially harmful.

For more on pharmaceutical companies, click [here].

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