It is a harrowing proposition: that in trying to control drug prices for 67 million Medicare patients now, we might inadvertently prevent the development of future drugs that could save lives. Implied, if not stated outright, is that we’re putting a cure for cancer or Alzheimer’s or some other intractable disease in jeopardy.
But we have good reasons to believe that the current policy won’t have such a trade-off any time soon. For one, pharma is hugely profitable, and these negotiated prices, while potentially chipping away at profit margins, should hardly entirely dampen the incentive to innovate, according to a couple of key studies of the industry. Two, if we are worried about future innovation, we should be focused on making it cheaper to develop drugs – and this is actually one area where AI is showing promise. By identifying the best candidates for possible treatments early in the research process, we could speed up development and continue to reduce costs — without losing out on tomorrow’s breakthroughs. …
FTFY…
Big Pharma claims lower prices will mean giving up miracle
medicationsexecutive pay and bonuses.Haha no they meant what they said.
They’re not giving up their pay/bonuses.
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Even if they’re right, that just means I won’t be able to afford those “Miracle Medications” anyway…
Aren’t most of the RND costs paid for through government grants and donations…
Without price controls only the rich will be able to afford those “miracle” cures anyway.
I wouldn’t believe anything Big Pharma says.
Big Pharma is so fucking greedy we’re already starting to run out of useful new antibiotics because they aren’t as profitable as Big Pharma wants.
Let’s not conflate the business side of pharma and the science is pharmacology. The main reason we don’t have new antibiotics is mostly due to the evolutionary arms race against bacteria that quickly develop resistance typically within a year.
No conflation. It’s both. It’s because everything is privatized / sacrificed on the altar of capitalism. Yes, bacteria evolves quickly, but that doesn’t explain the huge gap in development efforts. It’s a complication, definitely. But, I reject the idea that this is the primary reason. More like an excuse.
Until they can cure cancer they have no leverage
Miraclemassively profitable medicine.How many people already suffer today or die early because of inadequate care and lack of affordable medications?
Fuck their hypothetical diminished future profits and solve today’s real problems that will save lives and increase quality of life.
Right. Because a miracle medication wouldn’t make a ton of money anyway what with it being a fucking miracle medication.
Wolves explain why eating sheep is actually good for the sheep. If elves are forced to become vegetarians, the sheep will suffer more…
Big pharma is full of shit. And the fact that they are admitting that the only way they’ll look for a “miracle drug” to extort sick people’s money by grossly overcharging is if they can extort sick people’s money on current drugs by grossly overcharging is fucking disgusting. They all should be hung.
half of budgets for pharma companies is spent on marketing. Discourage that and they will be forced to spend more on R&D.
You can pass a law to ban pharma commercials on the grounds that prescriptions should be prescribed by doctors. You could also simply tax marketing spending as though it were the same as profits, applying corporate taxes to marketing spending.
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https://www.vox.com/future-perfect/368538/medicare-drug-prices-pharma-negotiations-innovation
