Verily I say unto thee, that Kelsey Bjarnason spake thusly:
> "The fully capitalized cost to develop a new drug, including studies
> conducted after receiving regulatory approval, averages $897
> million, according to an analysis released today by the Tufts Center
> for the Study of Drug Development."
So they claim:
[quote]
Public Citizen Report Lambastes Drug Makers for Grossly Exaggerating R&D
Costs
Second Report Vilifies Drug Lobby that Keeps Prices and Profits High
By Editorial Staff
WASHINGTON, D.C. - According to a report by Public Citizen, a group
founded by Ralph Nader in 1971 to be the "the consumer's eyes and ears
in Washington," the pharmaceutical industry spends "about one-fifth of
what it says it spends on the research and development (R&D) of new
drugs, destroying the chief argument it uses against making prescription
drugs affordable to middle and low-income seniors."
The report by Public Citizen - Rx R&D Myths: The Case Against the Drug
Industry's R&D Scare Card - (available online at
www.citizen.org/congress/drugs/R&Dscarecard.html) details how U.S.
drug companies and their lobby group, the Pharmaceutical Research and
Manufacturers of America (PhRMA), have "carried out a misleading
campaign to scare policymakers and the public." PhRMA has long claimed
the pharmaceutical industry needs huge profits to fund research and
development of new drugs. With this report, Public Citizen reveals not
only that money spent on R&D by the drug companies is grossly lower than
they claim, but that taxpayers are footing a good portion of the R&D bill.
[/quote]
http://www.chiroweb.com/mpacms/dc/article.php?id=18217
[quote]
In the March 2003 edition of the Journal of Health Economics, a trio of
economists from the United States wrote about a number. Soon after, that
number began popping up all over the place — in newspapers and political
speeches, on television and the Internet. But the figure, despite
reaching near-canonical status, drew criticism. Some said it was
inflated. Less diplomatic detractors said it was a 9-digit fairy tale.
That number was 802 000 000. It was, according to the 2003 study, the
number of US dollars that pharmaceutical companies spent, on average, to
bring a new drug to market (J Health Econ 2003;22[2]:151-85). Now there
are new numbers. Some health economists peg the current cost of drug
development at US$1.3 billion, others at US$1.7 billion.
These figures have also been questioned, and Donald Light is among the
skeptics. “These high estimates are all from industry-supported studies
done by industry-supported economists who, as far as I can tell, compete
to see who can come up with the higher number,” says the professor of
comparative health care at the University of Medicine and Dentistry of
New Jersey and coauthor of an article challenging the validity of the
2003 study (J Health Econ 2005;24[5]:1030-3).
[/quote]
http://www.pubmedcentral.nih.gov/articlerender.fcgi?artid=2630351
It'd be interesting to see a detailed breakdown of those "accounts".
--
K.
http://slated.org
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| "The shepherd drives the wolf from the sheep's throat, for which
| the sheep thanks the shepherd as his liberator, while the wolf
| denounces him for the same act, as the destroyer of liberty.
| Plainly the sheep and the wolf are not agreed upon a definition of
| the word liberty; and precisely the same difference prevails today
| among human creatures." ~ Abraham Lincoln
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Fedora release 8 (Werewolf) on sky, running kernel 2.6.26.8-57.fc8
00:29:10 up 33 days, 4:27, 5 users, load average: 0.00, 0.02, 0.22
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