socialized medicine or a good idea

Schadenfreude

Schadenfreude

patriot and widower
what? the pharmaceutical business crying poor?!

a federal bailout for big pharma

wtf

Federal center hopes to spur drug research

Associated Press/AP Online

WASHINGTON - Federal officials concerned about the slowing pace of new drugs coming out of the pharmaceutical industry have decided to start a billion-dollar government drug development center to help create medicines. The New York Times reported on its website Saturday about the new effort that comes as many large drug makers, unable to find enough new drugs, are trimming back research.

Promising discoveries in illnesses like depression and Parkinson's that once would have led to clinical trials are instead going unexplored because companies are not inclined and do not have the money to undertake the effort.

The paper reports that initial financing of the government's new drug center is relatively small compared with the $45.8 billion that the industry estimates it invested in research in 2009. The cost of bringing a single drug to market can exceed $1 billion, according to some estimates.

The drug industry's research productivity has been declining for 15 years and shows few signs of reversing that trend, said Dr. Francis S. Collins, director of the National Institutes of Health.

The new center, to be called the National Center for Advancing Translational Sciences, will do as much research as it needs to so that it can attract drug company investment.

A service of YellowBrix, Inc. .​
 
How much of the profits do they have to give back to the gov for doing their initial reasearch?
 
evince said:
How much of the profits do they have to give back to the gov for doing their initial reasearch?
Click to expand...

they get write off all of the costs (research and meeting fda requirements)

i forget how much it costs to bring a new drug to market but it is in the billions, but somehow they manage to make a profit
 
I thought your article was saying the gov will now do much of the intitial research because of decreasing payoff from studies into new drugs.

How much will the drug cos pay back to the gov for the intitial research that does end up creating something markertable?
 
evince said:
I thought your article was saying the gov will now do much of the intitial research because of decreasing payoff from studies into new drugs.

How much will the drug cos pay back to the gov for the intitial research that does end up creating something markertable?
Click to expand...

the article does not say, but it looks like none :confused:
 
The gov has stepped in like this many times in our history to make sure the slack gets picked up where the corps have a decreasing finacial interest.

I wish all those times in hisotry would be calculated into this idea people have of how PERFECT the free market is.
 
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Schadenfreude said:
what? the pharmaceutical business crying poor?!

a federal bailout for big pharma

wtf

Federal center hopes to spur drug research

Associated Press/AP Online

WASHINGTON - Federal officials concerned about the slowing pace of new drugs coming out of the pharmaceutical industry have decided to start a billion-dollar government drug development center to help create medicines. The New York Times reported on its website Saturday about the new effort that comes as many large drug makers, unable to find enough new drugs, are trimming back research.

Promising discoveries in illnesses like depression and Parkinson's that once would have led to clinical trials are instead going unexplored because companies are not inclined and do not have the money to undertake the effort.

The paper reports that initial financing of the government's new drug center is relatively small compared with the $45.8 billion that the industry estimates it invested in research in 2009. The cost of bringing a single drug to market can exceed $1 billion, according to some estimates.

The drug industry's research productivity has been declining for 15 years and shows few signs of reversing that trend, said Dr. Francis S. Collins, director of the National Institutes of Health.

The new center, to be called the National Center for Advancing Translational Sciences, will do as much research as it needs to so that it can attract drug company investment.

A service of YellowBrix, Inc. .​
Click to expand...

Great news! Once again, it shows there are areas where government has a place.
 
so, the government requires them to spend millions to get approval for a new drug, limits their ability to patent, buys generic substitutes from overseas for Medicare then wonders why drug companies think R &D isn't profitable?.....
 
PostmodernProphet said:
so, the government requires them to spend millions to get approval for a new drug, limits their ability to patent, buys generic substitutes from overseas for Medicare then wonders why drug companies think R &D isn't profitable?.....
Click to expand...

the drug companies make billions before the drug becomes generic

besides who makes the generic drugs and the brand name drugs still make profits from those that do not trust generics
 
Schadenfreude said:
the drug companies make billions before the drug becomes generic

besides who makes the generic drugs and the brand name drugs still make profits from those that do not trust generics
Click to expand...
Foreign generics are often on the market before the U.S. patent expires. In many cases the government is breaking their own patent laws bringing in generics to cut medicare costs.

And none of it changes the fact that before the companies make billions on an approved and patented new drug, they have to spend billions to get the drug on the market, from basic R&D, through clinical trials, etc. (To say nothing of the multitude of dead ends that a drug company pursues in finding a single success.) While I do not deny the public needs reasonable protection from unethical medical claims and the proverbial snake oil salesmen, a goodly portion of the cost of a name-brand Rx is due to unnecessary over regulation and the massive amounts of bureaucratic red tape that goes with FDA approval.

Ditto most other kinds of medical costs. We could bring medical costs down significantly by streamlining the bureaucracy down to the basic needed protection certain laws give us.
 
Good Luck said:
Foreign generics are often on the market before the U.S. patent expires. In many cases the government is breaking their own patent laws bringing in generics to cut medicare costs.

And none of it changes the fact that before the companies make billions on an approved and patented new drug, they have to spend billions to get the drug on the market, from basic R&D, through clinical trials, etc. (To say nothing of the multitude of dead ends that a drug company pursues in finding a single success.) While I do not deny the public needs reasonable protection from unethical medical claims and the proverbial snake oil salesmen, a goodly portion of the cost of a name-brand Rx is due to unnecessary over regulation and the massive amounts of bureaucratic red tape that goes with FDA approval.

Ditto most other kinds of medical costs. We could bring medical costs down significantly by streamlining the bureaucracy down to the basic needed protection certain laws give us.
Click to expand...

link?
 
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