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What about drug R&D in those countries? For all the issues of the US healthcare system, one thing it has going for it is most of the new developments in medici
by shard972 9y ago
What about drug R&D in those countries?
For all the issues of the US healthcare system, one thing it has going for it is most of the new developments in medicine comes from the US.
- toomuchtodo 9y agoGreat for pharma stockholders, terrible for American citizens. Let's stop subsidizing drug R&D for the world on the backs of US citizens who are being squeezed to death by Washington and a for profit healthcare system.
- shard972 9y agoThat's a fair argument but I'm more interested in how much R&D happens under single payer systems.
- toomuchtodo 9y agoDoes the NIH and NSF not provide a pipeline for drug research in the US? Did you know the CEO of Mylan, the company that makes epipens made $98 million last year? Is that reasonable? http://money.cnn.com/2017/05/31/investing/epipen-mylan-chairman-98-million/index.html http://money.cnn.com/2017/05/31/investing/epipen-mylan-chair...
- theseatoms 9y agoReminds me of a good SSC post. > The problem with the pharmaceutical industry isn’t that they’re unregulated just like chairs and mugs. The problem with the pharmaceutical industry is that they’re part of a highly-regulated cronyist system that works completely differently from chairs and mugs. http://slatestarcodex.com/2016/08/29/reverse-voxsplaining-drugs-vs-chairs/ http://slatestarcodex.com/2016/08/29/reverse-voxsplaining-dr...
- pc86 9y agoWell the board felt it was reasonable, and I'd expect the board of a publicly traded company to know more about its finances than me. The question was about how much R&D happens in single-payer counties, not how much one particular CEO made. I am a proponent of single-payer health care in the US but responding to unrelated, valid questions with, "yeah, but this one person made a lot of money and that makes me mad!" is ridiculous.
- toomuchtodo 9y agoThat CEO only made that amount because of FDA regulations related to the manufacture of generics, as well as her family connections. http://amp.timeinc.net/time/money/4502891/epipen-pricing-scandal-big-pharma-politics/ http://amp.timeinc.net/time/money/4502891/epipen-pricing-sca... My point is that the entire for profit healthcare system in the US is broken, and it's time to burn it to the ground.
- pc86 9y ago> responding to unrelated, valid questions with, "yeah, but this one person made a lot of money and that makes me mad!" is ridiculous.
- toomuchtodo 9y agoWaste is waste, and must be eliminated from the system with extreme prejudice. Excessive profits are waste.
- chimeracoder 9y ago> That's a fair argument but I'm more interested in how much R&D happens under single payer systems. Half of all medical and pharmaceutical research in the world is directly funded by the US. That number doesn't include indirect funding which takes place as well - for example, pharmaceutical companies that are based in Europe (such as Astra Zeneca) often receive the funding for their research from the US, and use additional indirect funding methods to essentially subsidize their research that takes place outside the research with the money they make in the US. The US's market share of medical research has dropped a bit in recent years, but not because countries with single-payer systems are picking up the pace - it's because the research industries in China and India have grown incredibly fast in the last five years.
- ceejayoz 9y agoGSK is British. Novartis is Swiss. Roche is Swiss. Bayer is German. In short: plenty.
- Pulcinella 9y agoHell, how much of the money is spent on marketing, not actual R&D? It seems like there is a lot of Hollywood accounting in pharma.
- DanBC 9y agoOnly $5 billion a year. https://www.statnews.com/2016/03/09/drug-industry-advertising/ https://www.statnews.com/2016/03/09/drug-industry-advertisin... > Ad spending soared more than 60 percent in the last four years, hitting $5.2 billion last year. > And there’s no sign it’s slowing. On the contrary: Nine prescription drugs are on pace to break $100 million worth of TV ad time this year.
- brianwawok 9y agoSure but why do i as a American consumer subsidize drug invention for England or India? If the goverment wants to pay for R and D awesome. Dont put it on my bill to see the doctor.
- DanBC 9y ago> Sure but why do i as a American consumer subsidize drug invention for England or India? You don't. You subsidize the massive advertising budgets of the companies in the US.
- brianwawok 9y agoDrug advertising -> Drug Sales -> Drug Profits -> Profit for Drug Company -> More R&D For Next Drug If all drug advertising went to 0, it would not significantly impact drug prices in the US. It might in fact increase prices as there would be less users per drug. (Which of course may be a better result for society, but I digress)
- antisthenes 9y agoWhat about it? What R&D has been done, for example, in the past few decades for routine doctor exams and to combat obesity? Outside of niche drugs for rare diseases, what has R&D done to reduce costs?