The pharmaceutical industry is a powerful force in Wisconsin and across the United States. We have seen just how far they will go to protect their interests, even at the risk of harming or killing those they are supposed to be helping. Big pharma cares about profits; not people.
The big dogs of the pharmaceutical industry are often referred to as "big pharma". This term hints at the powerful,
overbearing nature of these industry giants. Though we would like to think that they are most interested in manufacturing safe, effective prescription drugs and medical devices, they too often put profits before people. If you have lost a loved one, or have yourself been harmed by a dangerous drug or device you know this all too well.
We have created the following article to help you better understand the pharmaceutical industry and its impact on prescription drug users nationwide. Most class action attorneys hope that the following information will help you better understand how big pharma works and how you can fight for, and win, compensation for your losses, injuries or illness.
Research, Development and Innovation
Drug companies spend billions of dollars each year in an attempt to develop new medications and medical devices. A pharmaceutical company that plans to produce the drug has so much time and money invested in the drug when it finally reaches the FDA's approval process stage. Clinical drug trials are understood to be an impartial, scientific process. More recently though, clinical trials have been shown to produce far more positive findings than a real, independent 3rd-party test would. With so much riding on the success and approval of a drug, it seems that too often big pharma works to hide a drugs flaws instead of making it safer for users.
Legal Issues
In Wisconsin and across the United States, drug side effects and medical device injuries have prompted a record number of class action lawsuits against pharmaceutical companies. These lawsuits seek damages for an injury, illness, or death caused by a prescription drug or medical device. Some instances of defective drugs and devices being recalled are:
• Avandia- A diabetes drug linked to heart episodes and failure.
• Hip replacement joints- Defective joints have caused too many hip replacement patients to undergo re-replacement surgery.
• Meridia- This prescription diet drug has been linked to increased heart attack and stroke risks.
• IVF filters- Used to help breakup clots caused by deep vein thrombosis, defective IVF filters have been left in the body too long, causing them to break apart and threaten the life of the patient.
• Fosamax- This prescription drug, used to treat osteoporosis, has been linked to a serious syndrome that causes bone decay, particularly in the jaw.
Who is big pharma?
Big pharma is a term used to describe those pharmaceutical companies with revenues in excess of $3 billion a year. The top five most profitable drug companies are:
1. Novatis
2. Pfizer
3. Bayer
4. GlaxoSmithKline
5. Johnson & Johnson
The questions is: What can those who have been hurt or made ill by a drug or medical device do to fight big pharma? If you ask a group of Milwaukee,
Wisconsin class action attorneys, they would say that they believe that most often a lawsuit, brought by a large group of wronged patients, is the best way to ensure that drug companies are held responsible for their actions.
