3 ms·

That's a fair argument but I'm more interested in how much R&D happens under single payer systems.

toomuchtodo 9y ago
Does 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 ago
  Reminds 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 ago
  Well 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 ago
    That 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 ago
        Waste 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 ago
GSK is British. Novartis is Swiss. Roche is Swiss. Bayer is German. In short: plenty.

Does 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 ago
Reminds 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 ago
Well 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 ago
  That 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 ago
      Waste 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 ago

GSK is British. Novartis is Swiss. Roche is Swiss. Bayer is German. In short: plenty.