2011
DOI: 10.19030/jber.v4i2.2640
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Drugs Company Profits In The United States: Are They Excessive? Evidence From Public Administration Perspectives

Abstract: Historically, the drug industry has been one of the most profitable in the United States of America and has been attributed to the relatively high cost of drugs compared to other developed countries. The call on drug companies to reduce the costs has increased tremendously with the industry strongly resisting, claiming costs are justified to support research and development of newer and better drugs. This debate is currently ongoing in the legislature with strong lobbying from both sides of the divide.  Hence,… Show more

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Cited by 3 publications
(2 citation statements)
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“…Since 1998, pharmaceuticals have spent $2.6 billion, oil/gas firms have spent $1.4 billion and the defence industry has spent $662 million on lobbying in America (OpenSecrets.com). The reforms to health care and medical drug pricing strategies (Adams and Osho, 2006) have featured in campaigning. Therefore, it is no coincidence that in 2013 Washington has a higher per capita income than Silicon Valley (Hannity, 2013).…”
Section: Understanding the American Mindsetmentioning
confidence: 99%
“…Since 1998, pharmaceuticals have spent $2.6 billion, oil/gas firms have spent $1.4 billion and the defence industry has spent $662 million on lobbying in America (OpenSecrets.com). The reforms to health care and medical drug pricing strategies (Adams and Osho, 2006) have featured in campaigning. Therefore, it is no coincidence that in 2013 Washington has a higher per capita income than Silicon Valley (Hannity, 2013).…”
Section: Understanding the American Mindsetmentioning
confidence: 99%
“…Lastly, and perhaps most importantly, if society appropriates the profits that incentivize both individual and corporate investors, then drug makers, particularly the startup biotech companies that provide much of the innovation in modern drug development, would need to pursue other lines of business in order to ensure their continued economic survival (Maitland 2002). 17 Otherwise, investors would naturally seek alternative investment vehicles unencumbered by any 'special' liability (ibid, Adams and Osho 2006).…”
Section: Regulated Profit Marginsmentioning
confidence: 99%