Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: http://www.socialistparty.org.uk/issue/475/2102

From The Socialist newspaper, 22 February 2007

Drug companies squeeze profits out of health

AN OFFICE of Fair Trading (OFT) report says that the NHS is paying the pharmaceutical companies hundreds of millions of pounds too much for drugs. The Department of Health buys 7 billion of branded medicines each year from the big drug companies.

The OFT says the NHS is not getting the best prices for drugs and recommends the overhauling of the Pharmaceutical Price Regulation Scheme that is supposed to set prices. Especially on drugs such as those to control blood pressure and cholesterol, it said, prices were significantly out of line with patient benefits.

Purchasing medicines takes up about a seventh of the NHS budget. The pharmaceutical companies are the most profitable sector in the economy, their rate of return dwarfing even those of the major banks or the oil industry.

As the NHS feature in the socialist issue 471, pointed out, the pharmaceutical giants "make an average 18% profit but do not reveal how much comes from the NHS. Increasingly they are linked at the top with Department of Health and Downing Street advisers."

OFT's report may get a warm welcome from the Treasury that wants to make big savings on the health service. However, there will be ferocious opposition from the drugs giants and also from their placemen in the government's ranks.

Socialists want an NHS that is able to carry out its vital work without shareholders' profits being the biggest concern. The pharmaceutical companies and other industries making profits out of the NHS such as the medical supplies industry, should be nationalised under democratic workers' control and management.

Roger Shrives

Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.


In The Socialist 22 February 2007:

Bush & Blair: Get out of Iraq

Iraq 'surge' doomed to failure

Italy: Thousands march against US military base


Socialist Party Marxist analysis

No to Trident!

North Korea: Talks achieve new accord

Anti-war, anti-nuclear, anti-capitalist? Read the socialist!


Socialist Students

Students can defeat fees

Another profit-making racket

Living in debt - with no advice

Defend further education


Socialist Party Congress

The politics of socialism


Socialist Party news and analysis

Justice for the Shrewsbury pickets

Children at the sharp end of British capitalism

Banking billionaires

Drug companies squeeze profits out of health

Hospitals crisis worsens

Fighting homophobia


Environment

Climate change - we have to act now


Socialist Party Marxist analysis

CWI world congress: How will new workers' parties be built?


Workplace news and analysis

Valentine's day protest

Unique Care workers plan more protests

Israeli postal workers storm trade union HQ


 

Home   |   The Socialist 22 February 2007   |   Join the Socialist Party

Subscribe   |   Donate  




Related links:

Profits:

triangleAirwave jobs strike

triangleBosses get pay-offs, workers get layoffs

trianglePublic services

triangleMarx was right

Health:

triangleNorth London hospital workers fight cuts and job losses

triangleObesity epidemic: end food market anarchy

triangleTories scrap the NHS pay cap: now fight for real-terms pay rises!

triangleNHS meltdown - fight the Tory cuts

Drug companies:

triangleSt Austell: STPs attacked

triangleThem & Us

triangleHeartless Tories chop funds for life-extending cancer drugs

NHS:

triangleUprising to save the NHS!

triangleNo cuts - hands off King George A&E!

Pharmaceutical:

triangleBuild a movement to save our NHS

Drugs:

triangleTories wreck our NHS

Reports and campaigns

Reports and campaigns

19/10/17

North West

Arriva North West bus drivers strike over pay

18/10/17

Democratic rights

Conference on state spies: who's watching who?

18/10/17

Leeds

Striking back against sackers' charter at Leeds Uni

18/10/17

Royal Mail

Royal Mail bosses block strike - back postal workers

18/10/17

PCS

Balloting members on the pay cap

18/10/17

Art

'Dazzling' Bad Art show points to socialist future

18/10/17

Council

Sheffield Labour council threatens peaceful protesters with prison

18/10/17

South West Wales

Hundreds turn out for rally aimed at removing west Wales Tory MP

18/10/17

NHS

Uprising to save the NHS!

18/10/17

Socialism

Can you donate to the Socialism 2017 appeal?

18/10/17

East London

No cuts - hands off King George A&E!

18/10/17

North London

North London hospital workers fight cuts and job losses

18/10/17

BAE

Nationalise to save jobs at BAE Systems

18/10/17

Schools

Schools "can't go any further" - stop the cuts: set deficit budgets now

18/10/17

Swansea

Socialist Students 'welcome' Hillary Clinton to Swansea

triangleMore Reports and campaigns articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party

triangle19 Oct Arriva North West bus drivers strike over pay

triangle18 Oct Russia, October 1917: When workers took power

triangle18 Oct Tories torn - bin them now

triangle18 Oct Royal Mail bosses block strike - back postal workers

triangle18 Oct Balloting members on the pay cap

triangle13 Oct The end of the Tories?

triangle11 Oct Nasty party imploding...drive out the Tories

More ...

triangle21 Oct Birmingham: NSSN Solidarity Forum

triangle23 Oct Chesterfield Socialist Party: The continuing struggle for abortion rights

triangle24 Oct Liverpool Socialist Party: The October Russian Revolution 100 years ago to the day

triangle25 Oct Salford Socialist Party: The October 1917 Russian revolution

More ...

Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

Archive

Archives:

October 2017

September 2017

August 2017

July 2017

June 2017

May 2017

April 2017

March 2017

February 2017

January 2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999

Legal

SP RSS feed RSS

Platform setting: = No platform choice

V2