With a market capitalization of nearly $72 billion, Boston-based Vertex Pharmaceuticals is one of the world's biggest biopharma businesses. Yet, there's an incredibly small chance that you or anyone you've ever encountered has ever been treated with any of its drugs.
Due to inadequate disclosure policies, drug company payments to European researchers and institutions for R&D work are often opaque, raising concerns about conflicts of interest and industry justifications for high medicine prices, according to a new study.
Patient groups' view of the pharma industry around the world is improving, according to an annual survey published on Tuesday. Fifty-nine percent of patient groups agreed that the pharma industry's corporate reputation is "excellent" or "good," compared to just 50% the year before, according to PatientView's annual online corporate reputation survey.
Porter noted that between 2013 to 2018, just $2.45 billion was spent on R&D while $4.71 billion was spent on marketing and $334 million on executive compensation. Additionally, the company spent $50 billion on stock buybacks, the congresswoman said.