<rant on>
Ok, I’m sick and tired of hearing this, and it is getting worse during the election cycle…
Everyone is comparing drug companies to oil companies. They are both evil (according to them)
I have to ask… are they really that stupid?
I’m not going to into the goodness or evilness of the oil companies, but I take offense to the tar-and-feathering of drug companies. As you know, I work in the industry, but this is not about me and my current or future income potential. This is about common sense.
Drug companies make money, because they sell drugs that people need (or want). Imagine what life would be if there was no medicine. Get an infection and die, Get high blood pressure and die of a heart attack, Get cancer and surely die (as opposed to hopefully recover, or at least live longer)… I could go on, but you get the point. Sure, there are drugs that won’t treat a life-threatening situation (Viagra/etc), but they improve quality of life. (In the case of Viagra, in some cases, it may improve the quality of life of two people, although I guess it could have an inverse effect on the partner
.
Now, if you must know, we are not that smart. Drug discovery is hard, really hard. It takes a long time to develop a drug and most fail. Sometimes they fail because the don’t work, but many times they fail because of unexpected side effects/etc. Clinical trials are long. Competition is tough. Research is expensive.
If a company had 100% success rate on drug development, it could be fair to ask them to limit their profit to a certain percent over cost. The problem is that for every program that makes it into a drug, 100 fail. Who’s going to pay for that?
Sure, drug companies make money, but most of them they reinvest a significant portion of their profits back into R&D.
Do those people vilifying the drug companies really think that we have all the drugs we need? is it acceptable to let people suffer and die just because we don’t want to spend money on research that may go nowhere?
Keep in mind, most drugs on the market have been found by sheer and dumb luck. Someone noticed an effect of interest in nature or in a high throughput screen and then kept asking more and more questions about how the compound behaved and how safe it was. Along the way, compounds are dropped because of various reasons. Furthermore, positive results in a study are no guarantee of future success. Remember, every cancer drug that has failed in clinical trials, cured cancer in an animal model. In other words, there are no certainties in drug discovery, and someone needs to pay for the work.
<rant off>