www.fdanews.com/articles/149078-pharma-blog-watch
Pharma Blog Watch
August 30, 2012
Infographic on Drug Costs Misleads the Public (World of DTC Marketing blog)
Rich Meyer rails against a recent critique of drug prices in his World of DTC Marketing blog. Meyer points out that “only three out of every 20 approved drugs bring in sufficient revenue to cover their developmental costs, and only one out of every three approved drugs generates enough money to cover the development costs of previous failures. Second, it now can cost over $1 billion to develop a new drug and get FDA approval and only 1 in every 10 drugs actually make it to market.” Further, price controls are routinely denounced in the U.S. as socialized medicine so while Americans do pay the highest prescription drug prices they also reap the benefits of these, which in most cases treat preventable lifestyle issues, he adds.
Rich Meyer rails against a recent critique of drug prices in his World of DTC Marketing blog. Meyer points out that “only three out of every 20 approved drugs bring in sufficient revenue to cover their developmental costs, and only one out of every three approved drugs generates enough money to cover the development costs of previous failures. Second, it now can cost over $1 billion to develop a new drug and get FDA approval and only 1 in every 10 drugs actually make it to market.” Further, price controls are routinely denounced in the U.S. as socialized medicine so while Americans do pay the highest prescription drug prices they also reap the benefits of these, which in most cases treat preventable lifestyle issues, he adds.