A legendary CEO did something unimaginable by today's
standards, and it tells you everything about how America has changed
 
 
Allergan CEO Brent Saunders and former
Merck CEO Roy Vagelos illustrate two eras in pharma.
 
 
The American corporation has been transformed by globalization and new
technology. But equally powerful is the belief that on Wall Street and in
boardrooms the sole responsibility of a corporation is to maximize profits for
shareholders. Starting this week, Business Insider teams up with public radio's
Marketplace. Our series, "The Price of Profits," tells the story of
how this idea changed the US and our lives.
There's a new way of doing business for most of Big Pharma.
Instead of relying on their own expensive laboratories, they buy existing
drugs or their makers and focus on getting treatments through the Food and Drug
Administration and onto your TV screens. Then they raise prices every year,
move overseas for tax advantages, and reward shareholders by buying back
billions worth