Is FOX News really that bad?

[Neil]

Even supposing that were true, it's better to have affordable mass produced medicines than bleeding edge research that only the rich can benefit from.

How do we get those affordable mass produced medicines?  Someone somewhere has to pay for the R&D and testing.  As Hans mentioned this includes the drugs that are unsuccesful, never used.  Right now the someone is US customers (generally) during the patent period.

On the other hand, if the US government decides to legislate price caps for drugs, what options do the pharmaceuticals have?  They lack the ability to just take their ball and go home.

[Razgovory]

If I had my old bills from '06 handy, it would throw several people on this forum into shock.

Not I, i recall how much my dad's bills were from his minor heart attack in '03 even with his medical insurance covering 80%

Yeah, my old man had a major heart attack and the next year the another catastrophic illness.  The medical bills were insane even with good insurance.  Almost lost the house.

[Razgovory]

Those financial records open or are we just assuming?

[Admiral Yi]

On the other hand, if the US government decides to legislate price caps for drugs, what options do the pharmaceuticals have?  They lack the ability to just take their ball and go home.

That's exactly the ability they have.  Stop researching new drugs.  What person in his right mind would pour a couple hundred million into developing a new drug if it could be legally copied the second it hit the shelves?

[Eddie Teach]

"If America doesn't do it, who will?" I think we should start calling that bluff.

Besides, it's not like easily copied pharmaceuticals will help us win any wars.

[Iormlund]

Yi, governments have doing that for ages.

And while they have their disadvantages they have at least four advantages:
1) A good deal of the money is not spent on cures for baldness or impotence.
2) Minimal marketing costs.
3) Avoids the inefficient practice of tweaking existing drugs with patents about to expire.
4) Opens up avenues of research that are simply not profitable for private business (yet are extremely profitable for society).


If you want to lower drug costs on the US you have to put on price caps, as simple as that. Caps on brib ... err, marketing, are advisable as well. And stop granting patents to the same drug with mere facelifts.

[I Killed Kenny]

The drugs my mom used to try and stop her brain cancer cost 3500 for 1 weeks supply.

ridiculous

[Syt]

A huge cost factor in clinical R&D is paying doctors with "useful patients" substantial honoraries for participating in clinical studies with their patients.

Or so I've heard.

OTOH you have no idea how much it costs (fees, toll, etc.) to get non-approved drugs into former USSR.

[Admiral Yi]

Yi, governments have doing that for ages.

And while they have their disadvantages they have at least four advantages:
1) A good deal of the money is not spent on cures for baldness or impotence.
2) Minimal marketing costs.
3) Avoids the inefficient practice of tweaking existing drugs with patents about to expire.
4) Opens up avenues of research that are simply not profitable for private business (yet are extremely profitable for society).


If you want to lower drug costs on the US you have to put on price caps, as simple as that. Caps on brib ... err, marketing, are advisable as well. And stop granting patents to the same drug with mere facelifts.

Publicly funded R&D is a reasonable alternative to privately funded (although off the top of my head I'm hard pressed to come up with an example of drugs developed by the government).  My main beef is with is with people who think we can eliminate the market incentives for private R&D and not replace it with anything else.

[Neil]

On the other hand, if the US government decides to legislate price caps for drugs, what options do the pharmaceuticals have?  They lack the ability to just take their ball and go home.

That's exactly the ability they have.  Stop researching new drugs.  What person in his right mind would pour a couple hundred million into developing a new drug if it could be legally copied the second it hit the shelves?

Who are you arguing with, exactly?

[Admiral Yi]

Who are you arguing with, exactly?

You, for one.  Although I erred in responding to your suggestion for price caps with a defense of patents.

[Neil]

Who are you arguing with, exactly?

You, for one.  Although I erred in responding to your suggestion for price caps with a defense of patents.

Eliminating patents on drugs isn't very likely.  It should only be considered as an 'ultimate weapon', should drug companies attempt to take actions that the government doesn't like.

[Baron von Schtinkenbutt]

http://people-press.org/report/319/public-knowledge-of-current-affairs-little-changed-by-news-and-information-revolutions

I got 11 out of 12 on their quiz.  Kinda surprised.

I don't like the choices offered on the Dow and unemployment questions.  The exact number on those is so close to the midpoint between their choices that its a crapshoot as to what the "correct" answer is.

[Fate]

Fox News is an excellent form of entertainment for bitter, old white people.

[Winkelried]

Fox News is an excellent form of entertainment for bitter, old white people.

Especially the kind that clings to their guns and bibles.