The Truth About the Drug Companies

Starred review from August 2, 2004
In what should serve as the Fast Food Nation
of the drug industry, Angell, former editor of the prestigious New England Journal of Medicine,
presents a searing indictment of "big pharma" as corrupt and corrupting: of Congress, through huge campaign contributions; of the FDA, which is funded in part by the very companies it oversees; and, perhaps most shocking, of members of the medical profession and its institutions. Angell delineates how the drug giants, such as Pfizer and AstraZeneca, pay physicians to prescribe their products with gifts, junkets and marketing programs disguised as "professional education." According to Angell, the cost of marketing, both to physicians and consumers, far outweighs expenditures on research and development, though drug makers invoke R&D as the reason drug prices are so high. In fact, says Angell, with combined 2002 profits of $35.9 billion for the Fortune 500's top 10 drug companies, the drug industry is America's most profitable by far, thanks to disproportionately high prices, generous tax breaks and manipulation of patents to extend exclusive marketing rights to blockbuster drugs like Prozac and Claritin. Angell mounts a powerful case (and offers specific suggestions) for reform of this essential industry—a case worth bearing in mind as "big pharma" continues to oppose importing cheaper drugs from Canada. Agent, Martel Agency. (On sale Aug. 24)

Forecast:
Time called Angell one of the 25 most influential Americans, and with the high cost of drugs making front-page news, her book should find a receptive audience.

April 1, 2004
A former editor in chief of the New England Journal of Medicine takes on the drug companies.

Copyright 2004 Library Journal, LLC Used with permission.

August 1, 2004
Angell, former editor in chief of the prestigious " New England Journal of Medicine," pulls no punches in her criticism of the big pharmaceautical companies. She profiles big "pharma" as one of the most bloated, secretive, self-serving industries--one that uses government payoffs, lures, bribes, and kickbacks to maintain its practice of grossly overcharging the public for products that are increasingly less than innovative. Under the current situation, the main pipeline of new products are mostly "me-too" drugs-- drugs very similar to successful ones already on the market yet patentable as new entities so that the companies can continue to charge premium prices for existing treatments as the older drugs move to generic status. The problem is that these new drugs may be less safe and effective than the older ones, since to get approval, drug companies only have to show that they work, not that they are better than an existing drug. Fortunately the public is angry about the current situation and is beginning to demand reform, to which Angell provides a sensible, enlightened approach.(Reprinted with permission of Booklist, copyright 2004, American Library Association.)