Prescription drugs are expensive, supposedly because drug companies are always looking for new cures to life-threatening incurable illnesses. Today’s drugs, they tell us, finance tomorrow’s cures. Drug companies claim that they perform exacting tests to ensure the safety and effectiveness of the drugs they sell because they, and the doctors who prescribe their drugs, have our best interests at heart.
The unfortunate truth is that sometimes drug companies are more interested in profits than cures. They do test drugs, but to call those tests “exacting” would be an overstatement. They put more money into convincing doctors and you that the drugs are safe and effective than actually making them safe and effective.
In recent years, pharmaceutical companies have made runaway profits, partly due to aggressive advertising and placement campaigns. Their main products are not drugs that cure, but drugs that can be marketed and sold for high profit. These are often expensive and potentially dangerous alternatives to established and effective treatments. How important is marketing in the drug industry? Public Citizen, a watchdog group, released a report showing that Fortune 500 drug companies devote 30% of revenues to administration and marketing their drugs and reap a sizeable 17% profit, while just 12% of revenues go into development and testing of new drugs.
Is Medical Negligence to Blame for Your Injury?
Healthcare providers, including doctors, nurses, and hospitals are also sometimes responsible for your injury. They may have invested in the medicine they are prescribing and use it even when it may not be the best treatment. Sometimes information about risks associated with the drug is available, but your healthcare provider does not carefully weigh these risks against the claimed benefits of the drug and/or fails to inform you of the risks. Hospitals sometimes subtly encourage expensive drugs on some occasions when less expensive drugs are sufficient for the treatment and have fewer possible side effects. In these cases, your doctor and other healthcare providers may have failed to provide you with the quality care that you deserve. We will also evaluate your treatment to determine whether your healthcare provide is liable for medical negligence or medical malpractice.
Help for Your Injury
If you or a loved one has been hurt by a dangerous or defective drug, you may be entitled to compensation for your injuries. The experience product liability attorneys at Schlichter, Bogard & Denton are recognized leaders in getting compensation for victims of defective drugs and dangerous medical devices. We are ready to pursue your case if you have been injured by:
No matter what drug caused your injury, get a free, no-obligation consultation today.