In the pharmaceutical industry, the giants are hard to beat, with pharmaceutical companies like Genentech, Merck, Pfizer, and others all contributing to the over-all global health problem. The world’s largest pharmaceutical companies have also created a lot of jobs in America, as well as overseas. One billion dollars was spent on research and development in the pharmaceutical industry last year alone. That’s a lot of money!
But what about the future? Can pharmaceutical companies keep their heads in the sand when it comes to the future of the human life expectancy?
Well, let’s put it this way, if pharmaceutical companies didn’t contribute to the current life expectancy statistics for our country, they wouldn’t be in business long. So, is there a silver lining? Yes, there is, and it’s the fact that pharmaceutical companies contribute a huge amount to public health.
They receive tax revenues, and they also contribute to health insurance premiums, but their main contribution comes from consumer health.
They don’t just give away their products, they promote them and sell them, increasing sales and giving back a portion of the profits to the public that makes them a public company. That, in turn, increases the longevity of the population and lowers health care costs for everyone.Continue Reading