what is big pharma

Big Pharma is a term used to refer to the worlds largest publicly traded pharmaceutical companies. These companies discover, develop, produce, and market pharmaceutical drugs for the use as medications to be administered to patients, with the aim to cure and prevent diseases, or alleviate symptoms. The term "Big Pharma" is often used in a negative context, as the industry has a history of fraud, bribery, lawsuits, and scandals. Despite criminal charges and fines, Big Pharma companies continue to do business. The industry leverages Washington's culture of corruption to increase profits while everyday Americans suffer from high drug prices. The industry spent more than $62 million in the 2016 congressional elections, benefiting members of both parties. Big Pharma contributes heavily to the annual budget of the U.S. Food and Drug Administration through application fees for its new products. The industry is also the biggest defrauder of the Federal Government under the False Claims Act, according to consumer watchdog group Public Citizen.