Drugged Up

If you have nothing nice to say, don’t say it. OK, so let me say this about the pharmaceutical industry: I am glad that it exists so that in comparison, the financial services business seems earnest, ethical and honest. Please don’t write and tell me about all of the research that they do in big pharma—I know, I know. But the good stuff does not always outweigh the seamier side of the marketing juggernaut that is spewed on a daily basis.

Maybe I am jaded because I saw all of my med school friends get treated to various perks -- pizza lunches at the hospital and fancy dinners were the tip of the iceberg—how about renting summer houses for residents or sending medical groups on ski vacations out West? But those lovely excursions bit my pals in the you-know-where, because once they became full-fledged MDs, they began to constantly complain about the “evil” pharmaceutical companies.

The main gripe is that once the Food and Drug Administration allowed pharmaceutical companies to advertise on TV a decade ago, the medical community has been swamped by patients who seem to think that they know what drugs to prescribe. One of my friends told me that the advent of TV advertising for drugs has been single worst development in the medical world over the past 20 years—yes, even more despicable than the diminishing reimbursements from insurance companies.

Can you imagine how annoying it must be to have patients demand a certain drug simply because of the commercial? But it sure does work, otherwise, why would big pharma spend approximately $3.5 BILLION on television ads last year alone? Patients must wear down the weary overworked doctor for the magic “purple pill” or whatever potion is offered over the airwaves.

Well, the world of drug pushing on TV may change, as the FDA is considering making pharmaceutical companies add additional disclosure in every advertisement. Beyond the fast-talking nonsense at the end, “side effects may include…,” a “buyer-be-vigilant” message might be made mandatory and drug ads may have to include a toll-free number where patients can report serious problems with their medications. This is probably a good development, but I am sure that the drug lobby will fight it hard. Again, the nicest thing to say is that the pharmaceutical industry actually makes the financial services industry look good!