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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Oblomov who wrote (100454)8/6/2009 2:36:51 PM
From: NOW3 Recommendations  Read Replies (2) of 116555
 
"First, research and development (R&D) is a relatively small part of the budgets of the big drug companies—dwarfed by their vast expenditures on marketing and administration, and smaller even than profits. In fact, year after year, for over two decades, this industry has been far and away the most profitable in the United States. (In 2003, for the first time, the industry lost its first-place position, coming in third, behind "mining, crude oil production," and "commercial banks.") The prices drug companies charge have little relationship to the costs of making the drugs and could be cut dramatically without coming anywhere close to threatening R&D."
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