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Health care bill getting disected......
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[QUOTE]Originally posted by The Bigfoot: [QB] [QUOTE]Originally posted by rounder1: [qb] If that happens....the best and the brightest will focus their interests elsewhere because it will cease to be as profitable to cure cancer, aids, alzheimers, herpes, syphilus, .........to infinity. [/qb][/QUOTE]They're attention will wander elsewhere eh? Kinda like big Pharma's has??? [QUOTE] But while the rhetoric is stirring, it has very little to do with reality. First, research and development (R&D) is a relatively small part of the budgets of the big drug companies—dwarfed by their vast expenditures on marketing and administration, and smaller even than profits. Second, the pharmaceutical industry is not especially innovative. As hard as it is to believe, only a handful of truly important drugs have been brought to market in recent years, and they were mostly based on taxpayer-funded research at academic institutions, small biotechnology companies, or the National Institutes of Health (NIH). The great majority of "new" drugs are not new at all but merely variations of older drugs already on the market. Third, the industry is hardly a model of American free enterprise. To be sure, it is free to decide which drugs to develop (me-too drugs instead of innovative ones, for instance), and it is free to price them as high as the traffic will bear, but it is utterly dependent on government-granted monopolies—in the form of patents and Food and Drug Administration (FDA)–approved exclusive marketing rights. If it is not particularly innovative in discovering new drugs, it is highly innovative—and aggressive—in dreaming up ways to extend its monopoly rights.[/QUOTE] http://www.nybooks.com/articles/17244 [/QB][/QUOTE]
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