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I dont understand. If the FDA wants to incentivize private companies to update the research on old drugs, why dont they just pay them to do it (AND not make the
by reader5000 16y ago
I dont understand. If the FDA wants to incentivize private companies to update the research on old drugs, why dont they just pay them to do it (AND not make the payment contingent on finding the drug marketable as this appears to do)? Obviously nobody knows the true value of new research on old drugs, but giving private companies blank checks to insurer's bank accounts doesnt seem like the best method to go about it.
- bigwally 16y agoIt is the best method for the drug companies quarterly results.
- barrkel 16y agoActually, some kind of prize system - setting a reward for a drug which has a certain degree of efficacy on some problem - has been proposed as an alternative to the government monopolies we currently have, which alleged free marketers are so in favour of. Dean Baker has written some stuff on it; http://prospect.org/cs/articles?article=patent_medicine http://prospect.org/cs/articles?article=patent_medicine has an overview of and argument for the approach.