At least China is standing up against these giant pharmaceutical groups.

But GSK and all the major pharmaceutical giants are all the same when it comes to corruption and underhanded practices. Over the past 6 years alone over $13 billion in fines or payments out of court have been made by the 5 big players. No doubt if analysis were made of the top 100 pharmaceutical companies the fines et al for fraud and corruption would exceed $30 billion most probably over the same period. So what is their game in doing this? If one analyses the vast profits that the pharmaceutical industry makes every year you quickly come to realise that in the case of the big ’5′ these payments are mere expenses. Take for instance GSK’s payment of $3 billion+ last year to the US authorities and where it was reported in the media that they sold over $28 billion of these fraudulent drugs over a long period and where they were life-threatening to our young and old alike. But added to this it is a known fact that GSK make at least 50% bottom-line profits (after taking off R&D costs) on sales. Therefore that equates to a $14 billion profit. Take $3 billion from $14 billion and you still have a very nice earner indeed of $11 billion. Therefore the pharmaceutical industry looks on these matters as mere expenses for they know whatever happens they will come up smelling of roses, even if their actions endanger human life, as history shows they have.

But to understand the mind-set fully of the giant pharmaceutical groups you have to understand where they come from – Surprising in the main, the Nazi era – http://foolscrow.wordpress.com/2010/07/27/return-to-nuremberg-big-pharma-must-answer-for-crimes-against-humanity/

Dr David Hill
World Innovation Foundation

GSK and all the major pharmaceutical giants are all the same when it comes to corruption and underhanded practices. Over the past 6 years alone over $13 billion in fines or payments out of court have been made by the 5 big players. No doubt if analysis were made of the top 100 pharmaceutical companies the fines et al for fraud and corruption would exceed $30 billion most probably over the same period. So what is their game in doing this? If one analyses the vast profits that the pharmaceutical industry makes every year you quickly come to realise that in the case of the big ’5′ these payments are mere expenses. Take for instance GSK’s payment of $3 billion+ last year to the US authorities and where it was reported in the media that they sold over $28 billion of these fraudulent drugs over a long period and where they were life-threatening to our young and old alike. But added to this it is a known fact that GSK make at least 50% bottom-line profits (after taking off R&D costs) on sales. Therefore that equates to a $14 billion profit. Take $3 billion from $14 billion and you still have a very nice earner indeed of $11 billion. Therefore the pharmaceutical industry looks on these matters as mere expenses for they know whatever happens they will come up smelling of roses, even if their actions endanger human life, as history shows they have.

But to understand the mind-set fully of the giant pharmaceutical groups you have to understand where they come from – Surprising in the main, the Nazi era – http://foolscrow.wordpress.com/2010/07/27/return-to-nuremberg-big-pharma-must-answer-for-crimes-against-humanity/

Dr David Hill
World Innovation Foundation

Nothing they’ve done is unusual by Chinese business standards.