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To: NOW who wrote (100510)	8/7/2009 9:09:01 AM
From: Casaubon	Read Replies (5) \| Respond to of 116555

When pharma grows their profits, they do increase their R&D budgets. That is the opposite of what is happening. Profits at big pharma (such as pfizer) have been falling, due to patent expirations. Therefore, the R&D and sales forces continue to get pruned, and the stock price continues to flounder. That is not the question which I asked you, however. The article you posted implies that R&D should be larger than their profits. "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. Message 25843374 I want to know how R&D can be larger than their profits, as your reference source implies. After you answer, I will explain why those "me-too" drugs help the consumer. I will also explain why I don't care for me-too drugs and never work on them.