Drug Company Scandal

It may not be as big a scandal as Madoff's ponzi scheme, but it has affected many more people and involves more money.

A recent journal article paper by Eric Turner and others in the New England Journal of Medicine titled "Selective Publication of Antidepressant Trials and Its Influence on Apparent Efficacy," showed that drug companies were inflating claims of efficacy by not publishing all the results of the studies done on antidepressant medications.

Instead of 94% of the studies demonstrating effectiveness for the drugs, the rate is closer to 51%. This means that the consumer's doctor is mislead to believe that the drugs he or she is prescribing are more effective than they actually are. The doctor, in turn, sets unrealistic expectations for the patient receiving the medication. When the patient fails to respond, then the patient feels hopeless because he or she has been led to expect that everyone else is benefiting from the medication.

Such disappointment can, in turn, lead to greater self-doubt, hopelessness and a loss of motivation to battle the depression. Madoff will be held accountable for his behavior and will likely spend time in jail. What is the consequence when drug companies inflate the efficacy of their medicine?