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Be a shame if someone looked up this on Google and found that it's not as outsized as some think https://data.oecd.org/rd/gross-domestic-spending-on-r-d.htm ht
by bowyakka 3y ago
Be a shame if someone looked up this on Google and found that it's not as outsized as some think
https://data.oecd.org/rd/gross-domestic-spending-on-r-d.htm https://data.oecd.org/rd/gross-domestic-spending-on-r-d.htm
- zone411 3y agoIncorrect. You linked to the overall R&D spending data, not medical R&D spending. You can find the health R&D expenditure data here: https://www.oecd-ilibrary.org/sites/health_glance-2017-72-en/index.html?itemId=/content/component/health_glance-2017-72-en https://www.oecd-ilibrary.org/sites/health_glance-2017-72-en... It shows the U.S. spending 2.4x that of Europe on pharma expenditure as a % of GDP, and 3.2x that of Europe on government R&D health budgets as a % of GDP. Edit: somewhat newer data is here https://www.oecd-ilibrary.org/sites/fc8b43f4-en/index.html?itemId=/content/component/fc8b43f4-en https://www.oecd-ilibrary.org/sites/fc8b43f4-en/index.html?i... It shows that the R&D pharma spending gap has actually increased even further to 3.5x.
- pjmorris 3y ago60 Billion a year (if I've read you charts correctly) is a drop in the bucket of US annual medical spending (4 Trillion/year.) You could pick the next most expensive country's plan, triple US R&D expenditures, and still spend way less. The GP's point about it not being outsized is correct.
- zone411 3y agoYou're attempting to introduce a tangential point to cloud the issue, a typical Red Herring fallacy. Bowyakka was 100% incorrect. It is indisputable that U.S. medical R&D spending makes European spending appear insignificant.