You think I am making it up? I don't care how much they make, and I am no commie and think that drugs should be available on a free market (pay what it costs to develop the drug).
Food companies don't charge what it costs to develop the food. They mark it up and make a profit. That's what a business is.
Appliance stores don't charge what it costs to purchase the appliances from factories. They mark it up and make a profit. That's what business is.
Tech companies do not charge what it cost to make their gadgets. Apple pays chinese slaves 1 dollar a day to fuel their iphone production and their phones cost hundreds of dollars. Is that a racket too? Should the phone cost exactly the cost to produce it? Or can they mark it up a bit and make a profit? How much profit is fair ? They charge whatever the customer is willing to pay. Drug companies charge whatever insurance is willing to pay. The system of health insurance in this country means that you are not directly the consumer of the medicine. So it depends on the payors. There is some pushback from payors on high priced drugs and this will continue to develop in the coming years. Whether certain medicines are overpriced or not has nothing to do with calling pharma a racket.
It costs over a billion dollars and over 10 years of research and development work to get a drug from start to finish line to be sold as a medicine after FDA approval, on average. The vast majority of these compounds fail. Only very few make it past phase 3 testing and get approval. So there are billions "wasted" (no, it's not wasted, it's an investment) on all the failed drugs in addition to the ones that succeed. With the profits these companies pour hundreds of millions (in some cases, for the larger companies, billions) into development of new and better drugs. And they can never just "rest" because eventually the patents expire and the drugs you are selling now, you will not be making much money off them (if any) 10 years from now. So they have to come up with new treatments or face death as a company.
But the racket is that the companies are aware that the drugs are addictive, and they are pushing the more addictive ones on the patients. I do not read about this. I have witnessed it myself.
Patients need medicine for their pain. They cannot bear it without some relief. Doctors prescribe the existing medicines. Some of those are addictive or could be come addictive. Many companies are working on new types of treatments that hopefully won't have those issues. But there is demand for the existing drugs because people need treatment. You admit down below that you yourself took norco. Because the pain can be unbearable for some people. The companies that invented these drugs certainly wish there were no side effects but clinical testing in humans is what establishes risk profiles and quite often a drug may have benefits but very rarely are they completely clean and causing no side effects at all. Believe me, these companies would make a whole lot more money if they could have come up with side effect-free and non-addictive pain meds. They are trying. And it will make more money than what you claim is "pushing" the approved drugs onto patients. I think your claim is a conspiracy theory. They are a business that makes money and they sell drugs and expect doctors to be responsible in distributing them to patients and explaining proper use and all the risks involved. If the doctor doesn't, that is his fault, not pharma's.
Baruch Hashem my pain went away for almost 2 years and only recently started again. I used to go to the 'Pain Clinic' to get the drugs I needed to relieve the pain from my condition.... But as I said I became concerned with how many Norcos I was going through even though they increased my dosage. It is a drug which quickly becomes tolerated and more is needed.
So they are developing even more addictive medicines, like the oxycontins (which they offered to me also)....
And they are developing multiple types of biologics which so far don't seem to be addictive at all. Why do you think and insist that there is some conspiracy to make sure the medicines are addictive? It's laughable really. Don't you know that they will make more money if they can come up with non-addictive medicines? That is a FACT.
Companies are working on a few different pathways for pain relief including Nav1.7, anti-NGF (but the FDA has held that up for a long time now), etc. Others which I can't think of right now.
Maybe when they figure out how to make drugs which don't become tolerated as easily then I will be satisfied. But I really don't need to be addicted to hydrocodone.
Drug development is not easy and obviously they are trying to do just that. If you assume otherwise, I think that's an insane assumption. If only they could snap their fingers and make a perfectly clean and super effective drug, they would. So would any old shmo in his basement. But it doesn't work like that.