Pharmaceutical Industry

HEALTHCARE in the United States has become a megabillion-dollar business. It is responsible for over 12 percent of the gross national product. Revenues from the health industry, which currently exceed $360 billion a year, are second only to those of the defense industry. True profits are much higher. In 1991, the United States spent $750 billion on healthcare and the level of spending is increasing each year.

A key component of the health industry, the pharmaceutical business has one of the worst records when it comes to breaking the law. John Braithwaite, in his extensive and illuminating study, shows the profundity and gravity of the crime problem in the pharmaceutical industry. Bribery, corruption, the unsafe manufacturing of drugs, fraud in testing, false advertising, and price-fixing are ...