Pharma: Greed, Lies, and the Poisoning of America
The Pharmaceutical Industry's Betrayal of Public Trust
With a global revenue of more than $1.2 trillion in 20201, the pharmaceutical industry is one of the most powerful and profitable sectors in the world. It is also one of the most important and helpful sectors, as it provides millions of people with life-saving pharmaceuticals and vaccines. However, there is a dark side to the pharmaceutical industry that has been uncovered by award-winning journalist and New York Times bestselling author Gerald Posner in his book Pharma: Greed, Lies, and America's Poisoning.
Posner's book chronicles the history of the pharmaceutical business from its humble beginnings in the nineteenth century to its current hegemony over the health-care system. He demonstrates how the sector has frequently abandoned its aim of improving people's lives by indulging in corruption, fraud, deception, and rash profiteering. He also reveals the Sackler family's secrets as the proprietors of Purdue Pharma, the firm that produced and sold OxyContin, the addictive opioid medication that launched America's opioid crisis.
The Pharmaceutical Industry's Rise and Fall
Posner opens his book by detailing how, in the late 1800s, the pharmaceutical industry arose from corner drugstores selling morphine, heroin, and cocaine. He explains how some of these drugstores grew into massive enterprises that invented antibiotics, insulin, penicillin, and vaccines. He also discusses some of the industry's heroes and villains, such as Jonas Salk, who produced the polio vaccine and gave it out for free, and Arthur Sackler, who pioneered aggressive marketing strategies that turned pharmaceuticals into blockbuster goods.
Posner, on the other hand, demonstrates how the industry was steadily perverted by money, deception, and the poisoning of America. He demonstrates how some corporations altered data, concealed side effects, bribed doctors, persuaded regulators, and promoted dangerous or inefficient treatments to naive consumers. He also reveals how certain firms took advantage of patent system flaws, participated in price gouging, and suppressed competition from generic pharmaceuticals. He also describes how some firms drove the opioid epidemic by misrepresenting opioids as safe and non-addictive pain relievers while ignoring or concealing evidence of their addictive and lethal potential.
The Sackler Affair
Posner's research into the Sackler family, who became one of America's wealthiest families as a result of the success of OxyContin, is one of the most surprising and intriguing aspects of his book. Posner describes how Arthur Sackler, a talented but ruthless advertising man, purchased Purdue Pharma in 1952 and transformed it into a marketing behemoth. He also demonstrates how Arthur's brothers, Mortimer and Raymond, both physicians, helped to grow Purdue's product portfolio and revenues. Posner also reveals how Arthur's descendants, led by his nephew Richard Sackler, created and sold OxyContin, a potent opioid painkiller containing a high dose of oxycodone, in 1996.
Purdue aggressively advertised OxyContin as a miracle medicine for chronic pain, stating that it was safe, effective, and had a low risk of addiction or abuse, according to Posner. He also discloses how Purdue paid doctors, pharmacies, patient groups, and politicians millions of dollars to support and prescribe OxyContin. He also reveals how Purdue ignored or minimised allegations of OxyContin usage and diversion, leading to an increase in addiction, overdose, and death across the country. He also describes how Purdue was sued by governments, counties, cities, tribes, and individuals accusing it of causing the opioid crisis. He also discusses how Purdue declared bankruptcy in 2019 as part of a settlement agreement that would require company to pay billions of dollars in damages and penalties.
Posner, on the other hand, demonstrates how the Sacklers have attempted to avoid blame and justice for their involvement in producing and benefiting from the opioid crisis. He explains how they exploited their riches and power to protect their assets from creditors and litigation. He also reveals how they exploited their philanthropy to cover their tracks and acquire access to famous organisations such as museums, universities, and hospitals. He also wonders if they will face criminal charges or prison term for their acts.
The Pharma Industry's Future
Posner closes his book by making several recommendations for reforming and regulating the pharmaceutical sector in order to avoid future scandals and disasters. He contends that the industry requires greater openness, responsibility, and oversight. He also supports for increased public investment for scientific research and development. He also advocates for increased consumer education and empowerment so that people may make educated decisions about their health care. In addition, he advocates for increased social responsibility and ethical standards in the sector.
Posner's book is required reading for everyone interested in learning how the pharmaceutical industry operates and what it has done to public health and trust. It is a thoroughly researched, well-written, and thoroughly documented chronicle of the industry's history, accomplishments, failures, and crimes. It's also a contemporary and pertinent book, as the globe grapples with the COVID-19 pandemic and looks to the pharmaceutical industry for vaccinations and therapies. Posner's book reminds us of the pharmaceutical industry's importance and hazards, as well as the need for attention and reform.
