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Scandals, Scrutiny Hits Mega-Drug Company Profits Hard

I wondered when the trail of scandals that began with the Vioxx debacle more than a year ago followed by more intense scrutiny on anyone involved in the process of approving drugs for market, would finally hit the mega-drug companies where they really lived: On the bottom line of their accountant's Excel spreadsheets.

All this damage to the image of drugmakers -- the result of insatiable greed by the industry as a whole -- has noticeably slowed their cash flow, according to this awesome piece in yesterday's New York Times.

Drug companies have no one to blame but themselves with the flood of consumer ads they air on TV and the Internet, says Dr. Marcia Angell, that marginalize the risks of taking a drug via an "infotainment shell game."

The tide is slowly turning folks, based on a telling quote from one drug industry analyst: The FDA has changed. Nobody wants to be on 60 Minutes...

The Lakeland (Fla.) Ledger November 14, 2005

New York Times November 14, 2005 Registration Required

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