Who Is Big Pharma Drug Company Class Action Lawsuits Explained

You might be aware that the firms who control the pharmaceutical industry are known as "big pharma". The word "big" not only refers to the size of these companies, but to their global reach and influence as well. Big Pharma would like you to believe that they aren't interested in big profits, that their real concern is saving lives through the creation of safe drugs and medical devices. Anyone who has been on the receiving end of a harmful drug or faulty medical device knows this for the lie that it is.

We have created the following article to help you better understand the pharmaceutical industry and its impact on prescription drug users nationwide. Most class action attorneys hope that the following information will help you better understand how big pharma works and how you can fight for, and win, compensation for your losses, injuries or illness.

Research, Development and Innovation

Drug companies spend billions of dollars each year in an attempt to develop new medications and medical devices. A pharmaceutical company that plans to produce the drug has so much time and money invested in the drug when it finally reaches the FDA's approval process stage. Clinical drug trials are supposed to be a neutral, scientific process. More recently though, clinical trials have been shown to produce far more positive findings than a real, independent 3rd-party test would. With so much riding on the success and approval of a drug, it seems that too often big pharma works to hide a drugs flaws instead of making it safer for users.

Legal Issues

In Wisconsin and across the United States, drug side effects and medical device injuries have prompted a record number of class action lawsuits against pharmaceutical companies. These lawsuits seek damages for an injury, illness, or death caused by a prescription drug or medical device. Some instances of defective drugs and devices being recalled are:

• Avandia- A diabetes drug linked to heart episodes and failure.

• Hip replacement joints- Defective joints have caused too many hip replacement patients to undergo re-replacement surgery.

• Meridia- This prescription diet drug has been linked to increased heart attack and stroke risks.

• IVF filters- Used to help breakup clots caused by deep vein thrombosis, defective IVF filters have been left in the body too long, causing them to break apart and threaten the life of the patient.

• Fosamax- This prescription drug, used to treat osteoporosis, has been linked to a serious syndrome that causes bone decay, particularly in the jaw.

Who is big pharma?

Big pharma is a term used to describe those pharmaceutical companies with revenues in excess of $3 billion a year. The top five most profitable drug companies are:

1. Novatis

2. Pfizer

3. Bayer

4. GlaxoSmithKline

5. Johnson & Johnson