To Profit from Others’ Misery

It is reported within the pharmaceutical industry that the average production cost of medicine is only 20 percent of the Suggested retail Price (SRP). This makes the manufacturing of drugs very profitable indeed.

Of course the drug companies can always justify the high costs they incur in research and development, and the huge investment involved in the manufacturing process. However, the underlying reason could be the exclusivity and monopoly enjoyed by the main players in the drug industry.

In addition, the promotional costs include the huge budget allocated to advertising in TV, print and broadcast media.These exclude the budget allocated for the year-round generously-funded conferences for doctors at five-star hotels and plush resorts. Some drug companies even shoulder the costs incurred of doctors attending conventions and study tours abroad.

Furthermore, drug companies provide various incentives in the form of cash, household appliances, free trips, etc to doctors who can meet the quota set in prescribing particular brand of medicines. And the respective detail men and women, or medical sales representatives are around to service and support the doctors

It is all right to make profit as this is the essence of doing business, recoup investment, and earn a reasonable profit margin. However, what is morally wrong in my opinion is the excessive and unconscionable profiteering at the expense of the poor people who can ill-afford the costs of these medicines.

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The family of retired RTC Judge Reno R. Gonzales Sr. of Iriga City would like to inform their relatives and friends that he passed away last January 16, 2005. The wake is being held at the 2nd Floor, Funeraria Imperial, Peñafrancia Avenue, Naga City. Interment will be held at 2 P.M. on Friday, January 21, 2005 at the Sto. Niño Memorial Park, Naga City.

He is survived by wife Atty Lourdes Ragalado-Gonzales, and the following children: Dr. Rene Gonzales, Atty. Rowena Gonzales, Assistant City Prosecutor Sarina Gonzales-Co, Rey Gonzales, Atty. Reno Gonzales Jr., Valdemar Gonzales, and Tina Lou Gonzales.

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Have you heard about the woman who sent out 40,000 Valentine cards doused in French perfume and signed “Guess who?
She is a divorce lawyer. from Richard Orben

QUOTES:
“ I don’t make jokes. I just watch the government and report the facts” -Will Rogers

“Dig the well before you are thirsty. - Chinese proverb