The industry takes advantage of the priority given by many governments to intellectual property rights over access to health rights, it is claimed.
Illustrating its generally bad reputation, a study of industry references in US newspapers found the number of unfavourable mentions more than double favourable ones.
However, the big companies claim their prices reflect product development and costs: bringing a drug to market can cost EUR350 million-EUR800 million and take up to 15 years. The author calls for a more constructive dialogue aimed at bringing agreement on a regulatory framework.
Do drug companies deserve their bad reputation?
IESE Insight, June 2006
Review by Steve Lodge