Thoughts on pharmaceutical developments

29 Aug
2002

Poor prescriptions for health prospects

But this private American industry of miracle-makers and lifesavers is now under assault from all directions. Many people apparently want the miracle medicines without paying for them, or paying nearly enough to keep them coming.

Charlatans are rushing forward to posture themselves on a high moral pedestal as the champions of the poor, the sick, and the needy in attacking the pharmaceuticals. But all these self-appointed saviors have never produced one drug or medicine that has ever benefited anyone.

This has been reflected in the still pending congressional debate over a Medicare prescription drug plan. The Senate bill would allow unrestricted importation of American-made drugs from Canada, purchased under Canada’s price controls. Moreover, even in the U.S., Medicare reimbursement under the pending plans would fall far short of market prices.

Such provisions would drastically reduce the revenue flow to the pharmaceuticals. That would in effect sharply slash the nation’s true budget for research and development of miracle drugs.

Solid profits on the drugs that work are necessary for a time to make the whole process of modern biomedical drug development viable. The research and development is highly expensive, an average of $800 million for each new drug, and the investment in it is very long term, for it takes well more than 10 years for a successful research effort to start making any money.

Pardon me while I hyperventilate. The pharmaceutical industry has good features. New drug classes often help patients greatly. I and most physicians greatly appreciate the advances of the last quarter century – statins, ACE inhibitors, ARBs, quinolones, proton pump inhibitors, etc. What this guy ignores is the greed of some companies. They deserved a good return on Prilosec. They have no excuse for Nexium. Likewise Claritin and Clarinex. They do not need to raise prices each year at a greater percentage than the cost of living. I favor the free market, but this is not the free market.

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2 Responses to Thoughts on pharmaceutical developments

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DB's Medical Rants » NY Times on direct to consumer advertising (DCA)

October 12th, 2004 at 1:38 pm

[...] ink these “golden oldies”: Why I’ve lost respect for the pharmaceutical industry Thoughts on pharmaceutical developments Just say no to Nexium [...]

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Dan Swift

August 29th, 2003 at 7:00 am

Your short sightness is appalling. You want the best drugs in the world, yet you are unwilling to pay the price. Sure Drug costs are low in Canada, so is the level of care. Why do Canadan’s with money run to the US for decent mediacl care? How many new drugs originate in Canada? Zero. The US has the finest Health Care System in the world, sure it has problems but it is unequaled. You bash Pharma Co’s without crediting the successes they have delivered over the decades. Without Pharma Co based research how many new drugs would make it to market? Not many. What is the life expectance of a child born in 1900 vs a child born in 2000? The Pharma companies you bash with impunity have increased the life expectantcy and the quality of life American enjoy today. The Federal Government provided HealthCare is appalling, take a trip to your local VA Hospital and see what the Clinton Healthcare System really looks like. Take the profits out of the Pharma industry and the companies will discontinue the reseach and place their capital in other areas where they can realize profits. If you don’t want to pay the price, don’t fill the scipt. How many hospital days are avoided with drugs? How many MI’s have been avoided with statin therapy? How many people are able to function with the improved CNS drugs? How many kids won’t have tubes surgically implanted in their ears with proper use of antibiotic? I would love to look in your medicine cabinet and see what you are taking. As for the free samples, they are the single greatest expense Pharma companies incur. Go in the drug closet at your physicians office and add up the dollars, you would be amazed. Most drug companies provide relief for truely needy patients in the form of free drugs and deeply discounted prescription programs. Before you spout off about the evil Pharma Companies take a look at the whole healthcare expense picture instead of price on your CVS receipt. Healthcare is a privaledge not a god given right. You are in control of you HealthCare expenses, take care of your body and you won’t require drugs.