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December 28, 2006
Drug Developers, or Just Advertising Firms?
Long is the quest to put a dollar figure on the cost of developing a new prescription drug. Pharmaceutical companies often pin the high costs of some drugs on the R&D that it took to bring them to market. But many doctors have argued that much of the research is federally subsidized and goes on in universities. Once developed, the companies buy the new drug and sell it, making profits rivaled only by big oil.
A new GAO report (summary) lends some credence to these claims, pointing out that as research expenses have grown, fewer drugs are getting to market. And most FDA approvals are for new uses of existing drugs -- say, in children's doses -- that preserve a company's market.
UPDATE, Feb 26: A Boston Globe opinion piece from former New England Journal of Medicine editor and prominent drug firm critic Martha Angell argues that the FDA has fallen into the hands of the drug companies.
Posted by Adam Graham-Silverman at December 28, 2006 10:28 PM
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