ABSTRACT
In the emerging transnational organization of the pharmaceutical industry, the world’s underdeveloped nations are playing an increasing role. The untrammeled power of the transnational pharmaceutical industry has wrought untold negative effects on the health of the world’s people. Far more significant are the interlocks between pharmaceutical companies and financial institutions. With the increase in mergers and acquisitions, the pharmaceutical industry as a distinct entity is ceasing to exist. Capitalism has generally resolved the recurrent crises of stagnation through major technological innovation. The US federal government has been urging physicians and pharmacies to use cheaper generic drugs to reduce the costs of the Medicare and Medicaid programs, but the Pharmaceutical Manufacturers Association has lobbied and gone to court to prevent this. This pharmaceutical exploitation falls into two headings: excessive sales of unneeded drugs to peripheral nations, and the marketing to and testing of dangerous drugs on people of color.
