Life saving industry – Investing more in advertising than R&D

Life saving industry – Investing more in advertising than R&D

George W. Merck, president of Merck &Co., a major pharmaceutical company in the twentieth century famously stated in 1929: “We try to remember that medicine is for the patient. We try never to forget that medicine is for the people. It is not for the profits. The profits follow, and if we have remembered that, they have never failed to appear. The better we have remembered it, the larger they have been.”[i] George Merck’s quote embodies the idealistic nature of the pharmaceutical industry at its inception. He had made it clear how the pharmaceutical industry does play an integral part in the continued prosperity of society. Continue reading Life saving industry – Investing more in advertising than R&D