I honestly don't get why so many people are so upset.
I get it with things like insulin where we know how to make it for years. But a new revolutionary drug? Sure their production cost is low but that doesn't include R&D and just think of how many drugs don't work. That's why when we do find something that works we can't expect it to only pay for itself, it has to make enough buck to basically pay for them as well, because why else even bother?
Most pharma R&D is actually done by the government. Unless they can prove it's an outlier there....
The government funds the first phase of the search. This is very important. But beyond that, the bill is footed by private sector.
The federal government is the primary funder of basic research in biomedical sciences through the National Institutes of Health (NIH). This research is essential for informing all medical progress, including the development of therapies. Overall, 54% of basic science milestones are achieved by the public sector and 27% by the private sector. From that point onward, taking the necessary risks associated with the drug development process required to advance basic science research into safe and effective treatments for patients corresponds primarily to the biopharmaceutical industry. Performing Phase I through IV clinical trials consumes more than 90% of total research and development (R&D) cost.
A number of recent studies indicate that a majority of this R&D is funded by investments made by the private sector.1 In a 2019 report, Research America indicated that, in 2016, the private sector funded 67% of total U.S. medical and health R&D while the federal government supported 22%.
The NIH is not immune to poison pill studies financed by the industry. Research America is the for-profit health industry with a mask on. It was also physically conducted by at least one member of a political think tank that lobbies for government payouts to corporations, (PPI). Then there's this gem at the end-
This research was supported by funding from the Pharmaceutical Research and Manufacturers of America (PhRMA), Amgen Inc., The Biotechnology Innovation Organization (BIO), GlaxoSmithKline, Novartis International AG, Sanofi S.A., and Pfizer Inc.
Maybe, instead of leaning on opinion pieces written by the industry you should look at actual research done by PHDs.
Like this direct comparison done for 2010-2019 finding industry breaks even with the government at it's most forgiving calculation. And at worst the government is shouldering 90 percent of the costs.
Fair enough. I should have definitely looked at the funding for the study. Thanks for providing a better study.
No idea on the statistics but this does happen. I think the onus is on the government to negotiate for the IP though. Big pharma is going to try to get the best deal they can and most of the time that's accepting tax dollars and then selling the drug at a more conservative markup to taxpayers. If the government contract was restructured to get the actual IP then they could offer another contract for production and get competing offers.
Sure. But who is the government going to negotiate for? The people putting money in their campaigns? Or the people who they've already trapped into voting for them?
Can't argue with you here. I think this is perhaps the biggest issue we face in the United States. Our government is for sale.
I think so too. We can't get any meaningful reform until we figure it out.
I honestly don't get why so many people are so upset.
I get it with things like insulin where we know how to make it for years. But a new revolutionary drug? Sure their production cost is low but that doesn't include R&D and just think of how many drugs don't work. That's why when we do find something that works we can't expect it to only pay for itself, it has to make enough buck to basically pay for them as well, because why else even bother?
Most pharma R&D is actually done by the government. Unless they can prove it's an outlier there....
The government funds the first phase of the search. This is very important. But beyond that, the bill is footed by private sector.
A quote from this study:
The NIH is not immune to poison pill studies financed by the industry. Research America is the for-profit health industry with a mask on. It was also physically conducted by at least one member of a political think tank that lobbies for government payouts to corporations, (PPI). Then there's this gem at the end-
Maybe, instead of leaning on opinion pieces written by the industry you should look at actual research done by PHDs.
Like this direct comparison done for 2010-2019 finding industry breaks even with the government at it's most forgiving calculation. And at worst the government is shouldering 90 percent of the costs.
Fair enough. I should have definitely looked at the funding for the study. Thanks for providing a better study.
No idea on the statistics but this does happen. I think the onus is on the government to negotiate for the IP though. Big pharma is going to try to get the best deal they can and most of the time that's accepting tax dollars and then selling the drug at a more conservative markup to taxpayers. If the government contract was restructured to get the actual IP then they could offer another contract for production and get competing offers.
Sure. But who is the government going to negotiate for? The people putting money in their campaigns? Or the people who they've already trapped into voting for them?
Can't argue with you here. I think this is perhaps the biggest issue we face in the United States. Our government is for sale.
I think so too. We can't get any meaningful reform until we figure it out.