Another take on the evils of TPP from Yves Smith at Naked Capitalism:
While US news stories occasionally mention the breathtaking cost of some medications, they almost always skirt the issue of why American drugs are so grotesquely overpriced by world standards. The pharmaceutical industry has managed to sell the story that it’s because they need all that dough to pay for the cost of finding new drugs.
That account is patently false.
First, part of the story the drug industry chooses to omit is that a substantial portion of drug R&D, and the riskiest part (basic research) is heavily funded by the National Institutes of Health and other government agencies. It’s hard to put all the data together, but the latest estimates I’ve seen put the total funded by the government at over 30%.
Second, Big Pharma spends more on marketing [than] on R&D. And it markets in the highest cost manner possible: in person sales calls to small business owners (doctors).