{"id":23413,"date":"2015-12-21T09:48:58","date_gmt":"2015-12-21T14:48:58","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=23413"},"modified":"2015-12-21T09:51:31","modified_gmt":"2015-12-21T14:51:31","slug":"before-you-complain-about-drug-costs","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/23413\/before-you-complain-about-drug-costs\/","title":{"rendered":"Before You Complain About Drug Costs&#8230;"},"content":{"rendered":"<p>Maligning pharmaceutical enterprises is a curious perennial dance, one that becomes even more active during presidential campaign seasons. \u00a0That always struck me as odd, since it seems a sign of societal advance that we can complain about the price of something that saves lives and improves living conditions rather than lamenting its nonexistence.<\/p>\n<p>Regardless, the U.S. Chamber of Commerce&#8217;s Global Intellectual Property Center (GIPC) offers an instructive corrective entitled &#8220;<a href=\"http:\/\/www.theglobalipcenter.com\/4-charts-explain-the-economics-of-drug-development\/\" target=\"_blank\">4 Charts Explain the Economics of Drug Development<\/a>.&#8221; \u00a0It is worth the brief examination and passing on to others, because it helps rebut many of the politicized myths that threaten the goose that lays the golden eggs:<\/p>\n<blockquote><p>&#8220;It&#8217;s not just the science that goes in to developing medicines that&#8217;s complicated. \u00a0The economics that drive the industry, allowing resources to be available so people can have access to beneficial new medicines is complicated, too.&#8221;<\/p><\/blockquote>\n<p>Each chart is worth 1,000 words, but the four broad takeaways are: \u00a0(1) \u00a0It takes ten years and $2.6 billion to bring a single drug to market; \u00a0(2) \u00a0In 2014, pharmaceutical companies spent $51.2 billion on research &amp; development; \u00a0(3) \u00a0Only a few drugs, however, become commercial successes; \u00a0and (4) \u00a0The end result is that pharmaceuticals&#8217; enormous investments result in people living longer and better lives.<\/p>\n<p>Something to keep in mind as sometimes silly presidential campaigns get even sillier, at least in terms of maligning the innovative pharmaceutical industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Maligning pharmaceutical enterprises is a curious perennial dance, one that becomes even more active during presidential campaign seasons. \u00a0That always struck me as odd, since it seems a sign of societal advance that we can complain about the price of something that saves lives and improves living conditions rather than lamenting its nonexistence. Regardless, the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[4807,4806,1251,4653,861,2871,2872,4805],"class_list":["post-23413","post","type-post","status-publish","format-standard","hentry","category-posts","tag-chamber-of-commerce","tag-drug-costs","tag-drugs","tag-gipc","tag-healthcare","tag-intellectual-property","tag-ip","tag-pharmaceuticals"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/23413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=23413"}],"version-history":[{"count":4,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/23413\/revisions"}],"predecessor-version":[{"id":23417,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/23413\/revisions\/23417"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=23413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=23413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=23413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}