Pharmaceutical Companies Put Money into Marketing over Product Development

 Posted on November 21, 2014 in Uncategorized

Prescription drug manufacturers are responsible for proper development of their products and the marketing and labeling it presents to the public. If there is a chance that their drug is defective, it can result in a recall and, ultimately, harm to patients.

The World Health Organization (WHO) identifies a conflict of interest between the medical needs of the public and their providers and the business goals of manufacturers, due to the fact that drug companies are the primary source of information for which products are most effective. According to WHO, pharmaceutical companies spend nearly twice of their revenue on marketing than on research and development.

However, revenues for some companies have recently decreased partly due to sales of generic competition. Pfizer's billion-dollar company hit a decline in 2013 in sales dropping to $2.3 billion from $3.9 billion in 2012 and $9.6 billion in 2011.

Pfizer was also the center of a safety update from the FDA at the beginning of the year. The FDA's safety information provided that some users of statins, the class of drugs used to lower cholesterol, which includes Lipitor, have reported cognitive impairment, such as forgetfulness and memory loss.

Serious side effects have been reported in patients taking Lipitor, including:

• Stroke;
• Kidney disease;
• Blindness;
• Heart attack; and
• Type 2 diabetes.

Millions of people have taken Lipitor over the years and may have unknowingly done so at the risk of their health. Filing a defective drug claim does not correct any damage that has been done, but there may be a chance of compensation from the drug manufacturing company responsible.

If you or a loved have experienced complications as a result of taking medication, you need an attorney with the experience of litigating against major pharmaceutical companies. Contact an Arlington Heights defective drug attorney today. Our attorney is ready to seek the justice you deserve.