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The cost of developing new drugs and medications is huge-often in the billions of dollar by the time the cost of "dead end" research that doesn't produce a salable product, the cost of years of animal and human testing is included and the cost of production facilities is factored in.
These costs are born nearly exclusively by American consumers, insurance companies and taxpayers. Without someone paying-these new, lifesaving treatments will never make it to market. So, US citizens pay the development costs-then after these costs are incurred, the drugs are offered to the rest of the world at a a great discount-none of the development cost, simply the production costs.
Now, the question is-how do we get the rest of the world to help bear the costs of developing these lifesaving treatments?
It would be beneficial if you could provide a specific list of drugs you are complaining were financed by the US. Rather than making a general argument, so we can compare pharmaceuticals developed in non-US countries, and contrast with those US pharmaceuticals.
The cost of developing new drugs and medications is huge-often in the billions of dollar by the time the cost of "dead end" research that doesn't produce a salable product, the cost of years of animal and human testing is included and the cost of production facilities is factored in.
These costs are born nearly exclusively by American consumers, insurance companies and taxpayers. Without someone paying-these new, lifesaving treatments will never make it to market. So, US citizens pay the development costs-then after these costs are incurred, the drugs are offered to the rest of the world at a a great discount-none of the development cost, simply the production costs.
Now, the question is-how do we get the rest of the world to help bear the costs of developing these lifesaving treatments?
Same way we do it here. Threaten them when they won't hand over their hard earned money.
I take cholesterol, high blood pressure, pre diabetes and gout medication. The makers of the drugs except Metformin are all foreign.
Too bad our government gives them the gift of USA consumers subsidizing the rest of the world. Perhaps if Medicare and Medicaid would negotiate lower prices it would help.
It has been well documented that the drug companies spend more on advertising than they do on R&D.
Wish they would come up with a cholesterol medication that does not make one diabetic and blood pressure medication that does not give one gout.
Brave, is the FDA checking the Chinese medication these days? I heard they were not open for business.
Step one: Ignore the root cause of why it is so expensive to bring drugs to market
Right. There should be no regulations on drug development, production or sales, and if you or your child die from taking a drug, your neighbor will know not to purchase* it, if he finds out about it.
*Or barter for it, because money backed by the state is immoral.
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Originally Posted by Gungnir
It would be beneficial if you could provide a specific list of drugs you are complaining were financed by the US. Rather than making a general argument, so we can compare pharmaceuticals developed in non-US countries, and contrast with those US pharmaceuticals.
Exactly.
There are some large pharma and biotech companies outside of the US, and research is carried out worldwide and not just in the US.
All countries have to abide by regulatory bodies, however drugs that are generally cleared by a well respected body such as the US FDA don't usually have much problem in relation to most western countries regulatory bodies.
In Europe the equivalent to the FDA is the European Medicines Agency and in the UK it's the Medicines and Healthcare products Regulatory Agency, but as you rightly piint out all ****ries have their equivalent organisations.
Actually Australia is upping the ante with stricter regulations and some companies are scrambling to meet those requirements. Nothing is ever written in stone because we do seek to improve and make better products.
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Originally Posted by fisheye
Actually Australia is upping the ante with stricter regulations and some companies are scrambling to meet those requirements. Nothing is ever written in stone because we do seek to improve and make better products.
The FDA is highly respected by most countries, and very few FDA approved drugs are banned in other countries.
Furthermore US companies such as Pfizer often develop drugs abroad, indeed Viagra a top seller was developed in the UK, and the UK spends more on pharma R&D than any other European country.
The cost of developing new drugs and medications is huge-often in the billions of dollar by the time the cost of "dead end" research that doesn't produce a salable product, the cost of years of animal and human testing is included and the cost of production facilities is factored in.
These costs are born nearly exclusively by American consumers, insurance companies and taxpayers. Without someone paying-these new, lifesaving treatments will never make it to market. So, US citizens pay the development costs-then after these costs are incurred, the drugs are offered to the rest of the world at a a great discount-none of the development cost, simply the production costs.
Now, the question is-how do we get the rest of the world to help bear the costs of developing these lifesaving treatments?
Why do 'we' have to do anything.
Pharmaceuticals make substantial profits. They spend more money on marketing then R & D. Cut the marketing bull and they can charge less. Their R & D is often assisted by public and private research/........
They don't want to be in the business then get out.
Why? Is the 45% profit margin Pfizer made the last few years not enough? Pharmacist one of the most profitable businesses in the world, the reason drugs cost so much in the US has nothing to do with the cost of development and everything to do with the legislation written solely to make pharma in the US fat.
How crazy -- look at how much more money is spent on marketing than on R & D!!?
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