For years the pharmaceutical industry has been branded as being a greedy, evil business that is out to make huge profits at the expense of the common working person. But is it their fault that they spend millions of dollars researching these new medicines that can add years to thousands of people's lives. No, we believe that making senior citizens that are living on social security spend hundreds even thousands of dollars a month is absurd. Granted there are some drugs that cost hundreds of dollars to produce but there are also some that are very inexpensive and cost the public over 100% of the production costs. Is this bad ethics by these companies or capitalism working at its best? The pharmaceutical industry believes it to be simple supply and demand, while mostly everyone else believes it to be preying on the old and weak. One of these pharmaceutical companies is Abbott Laboratories.
             In 1888 Wallace Abbott began his business by producing dosimetric granules. Soon his small operation grew into Abbott Laboratories in 1900. From then on Abbott Laboratories has continued to grow into one of the largest pharmaceutical companies in the world with operations in more than 50 countries. Abbott Laboratories now engages in the discovery, development, manufacture, and sale of a broad and diverse line of healthcare products and services. Also they have expanded and merged with companies like BASF and Medisense, Inc. to increase its share in the pharmaceutical industry.
             Many Americans have despised the pharmaceutical industry for years. Their exorbitantly high prices and lack of competition for certain drugs have been highly debated for years. It seems that no matter what they do the public wants cheaper medicine that will cure everything. But this will never happen as long as profits drive a company. Why charge two dollars over the production cost when you can charge twenty dollars over the cost because there is no competitio...