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Sick Money: The Truth About the Global Pharmaceutical Industry
The pharmaceutical industry is broken. From the American hedge fund manager who hiked the price of an AIDS pill from $17.50 to $750 overnight to the children's cancer drugs left intentionally to expire in a Spanish warehouse, the signs of this dysfunction are all around. A system that was designed to drive innovation and patient care has been relentlessly distorted to drive up profits.
Medicines have become nothing more than financial assets. The focus of drug research, how drugs are priced and who has access to them is now dictated by shareholder value, not the good of the public. Drug companies fixated on ever-higher profits are being fined for bribing doctors and striking secret price-gouging deals, while patients desperate for life-saving medicines are driven to the black market in search of drugs that national health services can't afford.
Sick Money argues that the way medicines are developed and paid for is no longer working. Unless we take action we risk a dramatic decline in the pace of drug development and a future in which medicines are only available to the highest bidder. In this book investigative journalist Billy Kenber offers a diagnosis of an industry in crisis and a prescription for how we can fight back.
Medicines have become nothing more than financial assets. The focus of drug research, how drugs are priced and who has access to them is now dictated by shareholder value, not the good of the public. Drug companies fixated on ever-higher profits are being fined for bribing doctors and striking secret price-gouging deals, while patients desperate for life-saving medicines are driven to the black market in search of drugs that national health services can't afford.
Sick Money argues that the way medicines are developed and paid for is no longer working. Unless we take action we risk a dramatic decline in the pace of drug development and a future in which medicines are only available to the highest bidder. In this book investigative journalist Billy Kenber offers a diagnosis of an industry in crisis and a prescription for how we can fight back.
432 pages, Hardcover
Published October 7, 2021
37 people are currently reading
407 people want to read
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Displaying 1 - 16 of 16 reviews
March 7, 2022
Wow - this is an intense but very important book! I work in health care and sometimes get wind of the malpractices in medicine production and selling. This book is very thorough, well researched and explains the current problems really well. I found it interesting and there are many examples of medicine I see my patients taking daily. I hope this book and others who have done similar research can change something about the sick system. Definitely recommended read!
Thanks to the publisher and NetGalley for an ARC to read. Opinions are my honest thoughts.
Thanks to the publisher and NetGalley for an ARC to read. Opinions are my honest thoughts.
January 7, 2024
Meticulously researched. Eye opening to a layman like myself.
November 7, 2021
Well-researched medical non-fiction can be hard to come by, particularly when it’s about the pharmaceutical industry. There is a lot of emotion tied into illness and potential treatments, which complicates the issue but Billy Kenber has done a good job in teasing out the issues facing the public today.
The major themes of the book are the increase in prices of essential medications over recent years – old drugs that are still the best treatments for some diseases or those that treat rare diseases (known as orphan drugs). Kenber discusses companies which acted as disruptors to the traditional pharmaceutical industry, such as Concordia and Valeant. These companies didn’t develop drugs or even manufacture them. They simply bought drugs with no or few generic competitors, then increased the price steeply. Perhaps this makes sense in business, but when you add in the ethical and emotional parts to medicine manufacture and availability, it becomes fraught with issues. Kenber interviews patients who ration their insulin in the USA, and those who illegally buy it from Canada and distribute to Americans who can’t afford their life-saving medication. It would have been great if the book had gone into the differences between universal health care (e.g. Britain’s NHS, or Australia’s PBS) and the private/limited public cover in the US. Maybe that’s the next book.
It’s clear that Kenber has done a lot of research and he explains it well. Sometimes I found the ‘big pharma is only chasing profits’ refrain repetitive, but it provides a deeper look at issues past and present, as well as the dual needs to service shareholders as well as patients/clinicians. It’s interesting to read about the decline/specialisation of research and development in larger pharmaceutical companies in the context of COVID-19 vaccines. Like Kenber suggests, government and smaller companies lead the way in research development. (However, some companies still do have great R&D programs). The chapters on the decline of the blockbuster era (think statins like Lipitor® and antidepressants like Prozac®) were interesting, but I’d argue that there have been game changers since in specialty areas. Immunotherapy in cancer has revolutionised melanoma and the medications can cure hepatitis C are too. (The latter is mentioned in the book, but mainly in terms of price).
I would have liked to see more on other sectors of pharmaceutical companies that have declined, such as the provision and outsourcing of medical information, but the importance of these is less clear to those outside the medical sector. More could have been mentioned on the changes where drug reps are not allowed to supply medication branded stationery, and funded trips aren’t on the menu. I would have also liked some more on value-based pricing (looking at costs and benefits, including quality of life) from a health economist perspective, as it’s not spin but a really useful tool.
I think Kenber has done well with such a huge topic and presented his case clearly. It’s well written and importantly, all papers are referenced for further reading.
Thank you to Allen & Unwin for the copy of this book. My review is honest.
http://samstillreading.wordpress.com
The major themes of the book are the increase in prices of essential medications over recent years – old drugs that are still the best treatments for some diseases or those that treat rare diseases (known as orphan drugs). Kenber discusses companies which acted as disruptors to the traditional pharmaceutical industry, such as Concordia and Valeant. These companies didn’t develop drugs or even manufacture them. They simply bought drugs with no or few generic competitors, then increased the price steeply. Perhaps this makes sense in business, but when you add in the ethical and emotional parts to medicine manufacture and availability, it becomes fraught with issues. Kenber interviews patients who ration their insulin in the USA, and those who illegally buy it from Canada and distribute to Americans who can’t afford their life-saving medication. It would have been great if the book had gone into the differences between universal health care (e.g. Britain’s NHS, or Australia’s PBS) and the private/limited public cover in the US. Maybe that’s the next book.
It’s clear that Kenber has done a lot of research and he explains it well. Sometimes I found the ‘big pharma is only chasing profits’ refrain repetitive, but it provides a deeper look at issues past and present, as well as the dual needs to service shareholders as well as patients/clinicians. It’s interesting to read about the decline/specialisation of research and development in larger pharmaceutical companies in the context of COVID-19 vaccines. Like Kenber suggests, government and smaller companies lead the way in research development. (However, some companies still do have great R&D programs). The chapters on the decline of the blockbuster era (think statins like Lipitor® and antidepressants like Prozac®) were interesting, but I’d argue that there have been game changers since in specialty areas. Immunotherapy in cancer has revolutionised melanoma and the medications can cure hepatitis C are too. (The latter is mentioned in the book, but mainly in terms of price).
I would have liked to see more on other sectors of pharmaceutical companies that have declined, such as the provision and outsourcing of medical information, but the importance of these is less clear to those outside the medical sector. More could have been mentioned on the changes where drug reps are not allowed to supply medication branded stationery, and funded trips aren’t on the menu. I would have also liked some more on value-based pricing (looking at costs and benefits, including quality of life) from a health economist perspective, as it’s not spin but a really useful tool.
I think Kenber has done well with such a huge topic and presented his case clearly. It’s well written and importantly, all papers are referenced for further reading.
Thank you to Allen & Unwin for the copy of this book. My review is honest.
http://samstillreading.wordpress.com
January 12, 2022
Thank you to NetGalley and Canongate for an ARC of this book!
This book - a cross between economical and pharmaceutical non-fiction is extremely time sensitive. Most people live with high health and drug costs all over the world, and this book delves deep into why and how this is happening. I also appreciated the author including where the industry is going and what we can do to combat the unnecessarily high prices of prescriptions.
I can say I found the economical part of the book rather slow and hard to get through, while the pharma industry takes fascinating, infuriating, and important. The author stays balanced in sources and leaves his opinion out of it, while showcasing expert opinions that back up the empirical data presented.
This is definitely a book the pharmaceutical industry does not want you to read and act on and that is exactly why you should read it.
This book - a cross between economical and pharmaceutical non-fiction is extremely time sensitive. Most people live with high health and drug costs all over the world, and this book delves deep into why and how this is happening. I also appreciated the author including where the industry is going and what we can do to combat the unnecessarily high prices of prescriptions.
I can say I found the economical part of the book rather slow and hard to get through, while the pharma industry takes fascinating, infuriating, and important. The author stays balanced in sources and leaves his opinion out of it, while showcasing expert opinions that back up the empirical data presented.
This is definitely a book the pharmaceutical industry does not want you to read and act on and that is exactly why you should read it.
March 1, 2022
Investigative journalist Billy Kenber drills down on how the pharmaceutical industry has changed from prioritising on helping sick people to making money. Page after page come chilling stories of profit-making and neglect. He cites the example of an American hedge fund manager who hiked the price of an HIV AIDS pill from $17.50 to $750 overnight and of a children's cancer drugs left intentionally to expire in a Spanish because it was more cost-effective. Kenber explains industry culture such as the reluctance to invest deeply in vaccines because once the disease is conquered profits fall and an eagerness to put research money into chronic conditions like diabetes. If you want to know how big pharma works in 2022, read this book.
October 22, 2024
Sick Money is book by investigative journalist Billy Kenber. It tells the story about "Big Pharma" or big pharmaceutical companies and all sorts of ways they earn massive amounts of money. In many ways it is exatcly what you would expect from big pharma. They are greedy beyond any measure, hipocritical, more bussines that companies in search for beter medicine. Some of the facts stated in the book I knew. But some are new to me and it is not comprehensable how dishonest power-hungry are these companies. Big Pharma are hapoy when outbreak of a new virus happens. It is way to earn on reaserch and give price to a medicine most people could not afford.
To my suprise there are some parts of the book were author tries to give point of view of Big Pharma on why they act the way they do. So props for the autor for trying to be objective.
All in all Sick Money is very good book, well reaserch and at times dry. It is a bit too long. You could trimm some 20% of book and still come to the same conclusion.
All in all Sick Money is fine book and I recommend it.
To my suprise there are some parts of the book were author tries to give point of view of Big Pharma on why they act the way they do. So props for the autor for trying to be objective.
All in all Sick Money is very good book, well reaserch and at times dry. It is a bit too long. You could trimm some 20% of book and still come to the same conclusion.
All in all Sick Money is fine book and I recommend it.
July 18, 2023
Insightful
As a pharmacist who had worked across all sectors including policy this book was truly eye-opening and candid in it's appraisal of the pharmaceutical industry. A fantastic read which I thoroughly enjoyed.
As a pharmacist who had worked across all sectors including policy this book was truly eye-opening and candid in it's appraisal of the pharmaceutical industry. A fantastic read which I thoroughly enjoyed.
August 24, 2023
Some repetition but still packs a punch.
Highlights that current pricing models are not sustainable and reviews some alternatives however a whole book on how to combat current pricing would be an interesting read. Good to see so many references at the end of the book also.
Highlights that current pricing models are not sustainable and reviews some alternatives however a whole book on how to combat current pricing would be an interesting read. Good to see so many references at the end of the book also.
June 19, 2024
Finding such well researched intense medical non fiction is rare, this book however ticks all those boxes.
Captivating and compelling read I highly recommend to anyone with even a passing interest in the pharmaceutical industry and or capitalism.
Captivating and compelling read I highly recommend to anyone with even a passing interest in the pharmaceutical industry and or capitalism.
November 10, 2024
Shocked to see only 100 reviews. Every person should read this one. Crazy how this industry works and what some of this pharama companies have done.
Hope it’s only a small handful and rest are out there to save the world.
Hope it’s only a small handful and rest are out there to save the world.
January 14, 2025
Once the social contract between pharmaceutical company and public was broken, and the drugs were viewed as financial assets, it would destroyed the innovations and affordable drug prices. It’s a lesson we shall learn not just for pharmaceutical also for other technology area.
July 12, 2022
It was fine. A bit of a drag and a touch repetitive but very informative. Definitely not a book to read in bed because it will definitely help you fall asleep.
April 5, 2023
You can check out my review here:
https://youtu.be/iXNw233Kbqs
https://youtu.be/iXNw233Kbqs
January 31, 2024
Very insightful and fairly easy to read
June 15, 2025
Some books make one somewhat irritating to those in the immediate vicinity as it is paramount to discuss every second line. And then the first line.
December 26, 2023
Well I learnt a ton from this.
Sick Money is both fascinating and horrifying, to the extent that I’ve folded the corners of almost half of the pages. So informative and thoroughly researched - it is more than just a critique of the industry but also offers practical solutions and examples of how progress has already been made.
Kenber discusses how the pharmaceutical industry has evolved over time and how the founding social contract between drug companies and patients is being broken. He raises some interesting questions around intellectual property rights in medicine and pharmaceutical marketing. It’s quite focussed on the US but that’s where the most extreme price gouging scandals have happened due to a lack of regulations & just rampant capitalism in general. The abuse of the 1983 Orphan drug act was especially disturbing.
All in all, an important read!
Sick Money is both fascinating and horrifying, to the extent that I’ve folded the corners of almost half of the pages. So informative and thoroughly researched - it is more than just a critique of the industry but also offers practical solutions and examples of how progress has already been made.
Kenber discusses how the pharmaceutical industry has evolved over time and how the founding social contract between drug companies and patients is being broken. He raises some interesting questions around intellectual property rights in medicine and pharmaceutical marketing. It’s quite focussed on the US but that’s where the most extreme price gouging scandals have happened due to a lack of regulations & just rampant capitalism in general. The abuse of the 1983 Orphan drug act was especially disturbing.
All in all, an important read!
Displaying 1 - 16 of 16 reviews