Drug companies are the most profitable industry
The drug companies claim that they need large earnings - 125,835,595,000 in 1999 - to conduct their research and development. They have a point - only up to a degree. Aggressive research is indeed needed. The medications produced by the pharmaceutical industry have improved the quality and length of life of many people. But this justification loses credibility when:
1. Just 1 out of every 5 dollars the drug industry collects goes to drug research.
2. Some drug companies spend almost twice as much money for advertising and marketing as they spend for research.
3. Drug industry profits are so large they outstrip every other industry's profits by far
Drug companies are the most profitable industry. In 2001, a year which saw a drop in employment rates, a plunge in the stock market and symbols of America's economy literally come crashing down, the drug companies continued their reign as the most profitable industry in the annual Fortune 500 list.
While the overall profits of Fortune 500 companies declined by 53%, which was the 2nd biggest dive in profits the Fortune 500 has taken in its 47 years, the top 10 U.S. drug companies increased their profits by 33% (3).
Collectively, the 10 drug companies in the Fortune 500 topped all 3 of the Fortune magazine's measures of company profitability for 2001, according to the magazine's annual analysis of America's most important companies.
These drug companies had the greatest return on revenues, reporting a profit of 18.5 cents for every $1 of sales, which was 8 times higher than the median for all Fortune 500 industries, easily surpassing the next most profitable industry, which was commercial banking with a 13.5% return on revenue)
http://www.healingdaily.com/conditio...-companies.htm
the above figures do not include catnip. :)
FK