The New York Times reports on the faltering image of drug manufacturers:
A year after Merck's withdrawal of its arthritis medicine Vioxx led to an industrywide credibility crisis, the Food and Drug Administration is blocking new medicines that might previously have passed muster. Doctors are writing fewer prescriptions for antidepressants and other drugs whose safety has been challenged, like hormone replacement therapies for women in menopause.
Meanwhile, insurers and some states are taking advantage of the backlash against the industry to try shifting patients to older, generic drugs, arguing that they work as well as newer and more expensive branded medicines. Overall, prescriptions continue to rise slightly, but an increasing share of prescriptions are going to generic drugs. Also, consumers seem to be less responsive to aggressive drug marketing.
First, I can't believe it's been a year since Vioxx was pulled. Second, this is great news for patients. Generic drugs are no different than their much more expensive counterparts, and those that have been on the market longer are often essentially the same as the new drugs (the whole "me-too" phenomenon). Unnecessary therapies, HRT in particular, should be reduced. They have serious risks associated with their use, and it's something patients should weigh carefully.
Then there's the recent announcement about Ortho-Evra, the birth control patch. Apparently it delivers 60% more hormones than the Pill because estrogen is absorbed directly into the bloodstream rather than through the digestive system. The result? An increased risk of blood clot and stroke due to higher hormone levels.
Thursday's warning comes four months after reports that patch users die and suffer blood clots at a rate three times higher than women taking the pill.
Citing federal death and injury reports, The Associated Press found that about a dozen women, most in their late teens and early 20s, died in 2004 from blood clots believed to be related to the birth-control patch, and dozens more survived strokes and other clot-related problems.
This is a major oversight on the part of the manufacturer. When oral contraceptives were first introduced in the 1960's the hormone levels were astronomical compared those on the market today. Drug designers learned that a low dose of hormones is just as effective and reduces the risk of complications. Knowing all these things, and considering the simple difference between orally taking medication and putting it into the bloodstream, it seems careless. Surely this could have been avoided.
What's worse is how young these women were - late teens and early twenties. I was actually considering switching to the patch because it seemed easier -- I'm glad I didn't follow through.
Due in large part to all the bad press (now there's no way I'll get a patch subscription), sales are dropping:
But at some, including Pfizer and Merck, the largest and third-largest American companies in terms of revenue, sales are stagnant and profits are falling, leading to layoffs and - for the first time in years - cuts in research budgets.
In the third quarter, United States sales of prescription drugs fell 3 percent at Bristol-Myers Squibb, 4.5 percent at Johnson & Johnson, and 15 percent at Pfizer. Merck said its overall revenues fell 2 percent despite favorable foreign exchange trends.
After making
more than all the other 490 Fortune 500 companies
combined(at least until 2003, when oil took frist place), it's about time the pharmaceutical industry be held accountable for its oft-disregard for patients and their pocketbooks. But the cuts shouldn't be in their research budgets -- the problem is in the products themselves, and in the case of Ortho Evra, it seems more research was needed. Their profit margins need to fall back in line with other major corporations. Pfizer alone will make $8 billion in profits this year. Surely they can figure out how to recoup the negative press
and make drugs safer with that much money.