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The main issue is the way drugs are regulated and priced up. In the EU (and most of the world), the discussion on regulation is tied to pricing. Part of getting
by kristianc 8y ago
The main issue is the way drugs are regulated and priced up. In the EU (and most of the world), the discussion on regulation is tied to pricing. Part of getting clearance on getting to sell into the EU is gaining an understanding on how much you plan to charge.
In the US on the other hand, the FDA requirements are more stringent, but are disconnected from pricing completely. Achieve FDA clearance, and you can negotiate whatever price you want. US consumers subsidize the rest of the world.
- umvi 8y ago> US consumers subsidize the rest of the world. What are we subsidizing exactly? Development of new drugs? Does this mean if US started tightly regulating drug prices, then drug prices would go up everywhere else in the world? Or just that the rate of new drug development would slow down?
- kristianc 8y ago> What are we subsidizing exactly? Development of new drugs? Does this mean if US started tightly regulating drug prices, then drug prices would go up everywhere else in the world? Or just that the rate of new drug development would slow down? A bit of both, most likely. The US tends to see drugs that are not available elsewhere in the world, but the cost of drugs is much, much higher. Quick example - Generic Walgreens ibuprofen costs $3.29 for 20 in the US. The same thing in the UK at Boots (same parent company) costs $0.50.
- 9HZZRfNlpR 8y agoBut Ibuprofen was discovered by the Brits in 60's.
- arrivance 8y agoAlso discovered by the company he is talking about in the parent comment (Boots).
- evandijk70 8y agoWhy does it matter where it was discovered? Most drugs are marketed globally, so it does not matter where the pharmaceutical company is based. The cost-benefit analysis is the same for a British company and a US company. It is still possible that the US market subsidises drug development if it happens in the UK.