Dr. Rivkah Roth - Diabetes is Big Business, but for Whom?
May 1, 2012 This week (April 2012), 1st Quarter net profit financial statements were released in business publications worldwide. Among the company net profit earnings reported were some of the biggest manufacturers of diabetes and diabetes-related medications.
This blog is written by a health professional and not a business savvy individual. It, therefore, does not claim accuracy nor is this list anywhere close to complete. But, it should get us thinking. Here are the reports from just five of the major couple of dozen or so pharmaceutical companies:
• Merck reported $11.7 billion[1] net earnings from January to March 2012, largely boosted by higher sales of their Januvia and Janumetdiabetes drugs.
• The Sanofi report exceeds expectations with a 13% increase to $3,2 billion[2] and includes diabetes drugs such as Lantus.
• Novartis announced an 18%[3] net profit drop to $2.33 billion (still a hefty 3 month profit!) among a sales drop to $13.74 billions.[4] - Any of these "losses" can’t be that devastating considering that Novartis, early this week, announced their plans for a new $550 million production site in its native Switzerland.
• Nova Nordisk reports an 18% increase to a hefty $822 million net profit[5] and plans on expanding its US-based diabetes sales force by 15% in 2012.[6]
On the other hand, we have a consumer advocacy group calling on the FDA to ban their diabetes drug Victoza[7] over suspicion that it might contribute to thyroid cancer, pancreatitis, and possibly other safety issues not eliminated or excluded by human studies.
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http://www.greenmedinfo.com/blog/diabetes-big-business-whom