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Obamacare Will End Drug Advances and Europe's Free Ride [95% of new drugs are made for sale in U.S.]
Forbes ^ | July 1, 2012 | Paul Roderick Gregory

Posted on 03/01/2014 4:31:40 PM PST by grundle

Ninety five percent of the new drugs coming on the market are developed for sale in the United States. They are paid for by American consumers, while other countries, such as Canada, Germany and France, free ride at our expense. The United States is the last major country that allows the market to set prices high enough to compensate pharmaceutical companies for their R&D investments. Obama Care will increasingly control pharmaceutical prices as costs rise and federal and state funds fall short. Major pharmaceutical advances will stop, and the rest of the world will lose along with Americans.

The “dinosaur” that we rarely hear about are the drugs that have improved, prolonged, and changed our lives. When President Eisenhower suffered a massive heart attack in September of 1955, his doctors could only inject a pain killer and prescribe bed rest. When Vice President Cheney suffered heart attacks almost a half century later, he was given powerful blood thinners, a stent was inserted, and he was released from the hospital shortly thereafter. Before acid inhibitors, ulcer sufferers had only operations that cut off ulcerated portions of their stomachs. Before AZT drugs, an HIV positive test was a death sentence. tPA saved millions of heart attack and stroke victims. HPV is an effective vaccination against cervical cancer. Anti-psychotic medications allow patients with schizophrenia to live productive lives. Viagra saved millions of men the shame of sexual dysfunction, and probably rescued thousands of marriages. The list goes on and on.

Without the hard-pressed American consumer to finance R&D costs, we would not have AZT, Cimetidine, Nexium, tPA, Beta blockers, new cancer drugs, anti psychotic drugs, and all the rest. American consumers pony up, while the rest of the world benefits without paying its share.

(Excerpt) Read more at forbes.com ...


TOPICS: Miscellaneous
KEYWORDS: obamacare

1 posted on 03/01/2014 4:31:40 PM PST by grundle
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To: grundle
Obamacare will “fix” all medical advancement and research that comes from the United States.
2 posted on 03/01/2014 4:37:14 PM PST by Navy Patriot (Join the Democrats, it's not Fascism when WE do it, and the Constitution and law mean what WE say.)
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To: grundle

Pretty crappy reason to dislike Obamacare. We’ve been, according to this article, subsidizing the world’s drug supply with our tax dollars and insurance premiums. Now they’re whining that our subsidy will be gone and that’s going to affect us as well as them. Tough. Let the socialized medicine countries help foot the bill for the drugs.


3 posted on 03/01/2014 4:37:17 PM PST by raybbr (Obamacare needs a death panel.)
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To: grundle

this “Fundamental Transformation” of america has GOT to stop NOW!


4 posted on 03/01/2014 4:40:33 PM PST by MeshugeMikey (how many times has obie fundamentaly transformed obamacare now?)
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To: grundle

It’s partly true.

There will still be innovation where the government hasn’t figured out how to pressure the market with generics (biologic drugs), or there are politically powerful patient advocacy groups (e.g. oncology, Parkinson’s, Alzheimer’s).

Yes, the US health system will become more like Europe’s regardless of whether Obamacare is repealed.

The question is whether we become like the Netherlands (pretty good), or like the UK or Poland (can you say “snuff party”?)


5 posted on 03/01/2014 4:42:42 PM PST by oblomov
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To: raybbr

The European governments won’t do it. They would prefer that their populations die off. It will enable the feudal vision they have for Europe.

What the effect will be is more consolidation in the pharma industry, and fewer biotech startups. In the end it will mean less innovation, but this will happen over the span of decades, not years.


6 posted on 03/01/2014 4:46:49 PM PST by oblomov
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To: grundle

Stories like this make me quite angry. I have an illness that will worsen as time moves on. I’ve read about some promising things on the horizon, but Obamacare is going to put one hell of a chasm between here and the horizon.


7 posted on 03/01/2014 4:57:43 PM PST by LostInBayport (When there are more people riding in the cart than there are pulling it, the cart stops moving...)
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To: raybbr

Because a rabbit enjoys a few of your turnips doesn’t mean you burn the garden.

We will mame do with less and so will the world. I’d rather have new drugs even if it meant the socialsts plunder it as well.


8 posted on 03/01/2014 5:01:55 PM PST by Bogey78O (We had a good run. Coulda been great still.)
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To: grundle

“Before acid inhibitors, ulcer sufferers had only operations that cut off ulcerated portions of their stomachs”

I owe my life to Zantac. I could drink 4 bottles of Maalox/Mylanta and it wouldn’t touch it.


9 posted on 03/01/2014 5:04:20 PM PST by headstamp 2 (What would Scooby do?)
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To: oblomov

The wheels are coming off the generic solution. With manufacturing resources scarce, the owners of the businesses just pull production of meds that patients have taken for years but are relatively unprofitable. When the demand is sufficient for the desired price rise to occur, they reappear. It’s a good business model, heh?


10 posted on 03/01/2014 5:06:19 PM PST by gusopol3
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To: grundle

The average drug in the USA takes 11 years of clinical trials and 1.2 BILLION dollars —just one drug.

If it turns out it might help other diseases also, it must be re-tested for that other disease.

Because the documentation process is so very rigorous many other countries simply accept the judgements of the FDA.

Obamcare might sink ALL these other countries.


11 posted on 03/01/2014 5:07:29 PM PST by gaijin
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To: Bogey78O
I’d rather have new drugs even if it meant the socialsts plunder it as well.

No:

The patent process makes drugs very profitable because for 10 or so years other potential makers are excluded, and those resulting profits means companies can fund very risky, pie-in-the-sky research. For THAT reason US research tempo is high and the number of new drugs for the whole WORLD is high.

If drug discovery is less profitable in the USA, less research will be done in the USA. And THAT means considerably fewer drugs for the whole world.

And so my point is that the "drug field" will not be plundered directly by socialists so much as by the new market forces that come to bear.

12 posted on 03/01/2014 5:13:24 PM PST by gaijin
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To: grundle

Bump


13 posted on 03/01/2014 5:16:01 PM PST by WashingtonSource
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To: Navy Patriot

It’s also worth mentioning in this context the Obamacare tax on medical devices. This will also reduce innovation in that area.

Obamacare medical device tax led to loss of 33,000 jobs, report says
33,000 laid off or not hired

http://www.washingtontimes.com/news/2014/feb/23/obamacare-medical-device-tax-led-to-loss-of-33000-/#ixzz2ulQ9LpRG

Excerpt:

A new survey says Obamacare’s tax on medical device manufacturers forced companies to lay off or avoid hiring 33,000 workers last year — adding another arrow to the GOP’s quiver as Republicans aim to portray the health care law as a job-killing program.

The report from the Advanced Medical Technology Association, or AdvaMed, underscored the latest line of attack against President Obama’s signature law, as Republicans also trumpet the potential harm of the law’s insurance rules on employers and a new report suggests government-subsidized health plans will prompt more than 2 million people to work less or leave the workforce.


14 posted on 03/01/2014 5:17:45 PM PST by FreedomPoster (Islam delenda est)
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To: grundle
IU have been saying this for years. Socialism in the last market medical economy will end research. Governments won't pay for it. Medical research competes for funds with defense and highways and pocket-lining and welfare and unemployment compensation and et al etc. The leftists who are doing it to us do not understand is that research that is required to keep antibiotics up to date and functional is part of that research tat will end. Up until now all medical research in the world has been for the American Market because all other advanced countries have socialized medicine and will not pay for that research. That is why new patented đrugs are so astronomically expensive in the US. The American population has had to absorb the cost of research without help from the rest of the world. Once antibiotic research ends it is only a matter of a few years until the US is medically back to 1910- you get sick, you die.
15 posted on 03/01/2014 5:19:15 PM PST by arthurus (Read Hazlitt's Economics In One Lesson ONLINEhttp://steshaw.org/economics-in-one-lesson/)
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Less than $4.3k to go!!

16 posted on 03/01/2014 5:29:28 PM PST by RedMDer (May we always be happy and may our enemies always know it. - Sarah Palin, 10-18-2010)
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To: arthurus

And people voted for the country to devolve back to 1800s and to give up our exceptionalism. All the hopey dopies who want everything to be green and backward.


17 posted on 03/01/2014 5:29:43 PM PST by angry elephant (Endangered species in Seattle)
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To: grundle

“the president’s specific words: I’m “really good at killing people,” authors Mark Halperin and John Heilemann write”


18 posted on 03/01/2014 5:32:35 PM PST by Paladin2
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To: grundle

Many of the same drugs are made by the same companies in other countries. The drug companies thank you for helping the more equal consituents by supporting poor, “developing” countries when paying the highest prices by far. A special thanks to those of you not employed by government offices or global corporations: those of you who’ve been buying the drugs with your own money for all of these years.


19 posted on 03/01/2014 5:48:35 PM PST by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: grundle

Medicine and drug companies have been bathing with pathological special interests in socialism for a long time, BTW. A true free market would be a much better start. Give the doctor $25 and a bottle of whiskey. Bite down on the stick, while he fixes you up.


20 posted on 03/01/2014 5:56:46 PM PST by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: grundle
the rest of the world will lose along with Americans.

So everybody loses. Americans lose the most because only prices are rising. Another political method to bleed Americans of their treasury is all am seeing in this article. Dang these politicians!

21 posted on 03/01/2014 5:58:45 PM PST by no-to-illegals (Scrutinize our government and Secure the Blessing of Freedom and Justice)
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To: gaijin

The issue is not patent protection, but reimbursement.


22 posted on 03/01/2014 6:02:01 PM PST by oblomov
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To: gusopol3

Not to mention that the Gx manufacturers don’t do research. They employ lawyers, not researchers.

The Gx business model is no different from that of commodity chemicals.


23 posted on 03/01/2014 6:04:18 PM PST by oblomov
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To: grundle

This great news comrads. No new drug advances will eliminate the expense of drugs.

Secondly, and most important, Sandra Fluck gets free birth control.


24 posted on 03/01/2014 6:07:32 PM PST by Organic Panic
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To: headstamp 2

Prilosec and the like have saved me a lot of grief and misery.

Most antacids I could chew or drink to pretty much no end and get little to no relief.


25 posted on 03/01/2014 6:10:18 PM PST by wally_bert (There are no winners in a game of losers. I'm Tommy Joyce, welcome to the Oriental Lounge.)
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To: grundle

I presented a similar argument to some “fellow patients” at my doctor’s office some 20 years ago, when Hillarycare was the topic of the times.

Those other patients pooh-poohed my arguments, but they weren’t thinking about how intrusive government would have to be, and how much the country would be changed by something like Hillarycare.

My predictions are slowly coming true, but with a different name for the same government program.

People who don’t bother to think, or can’t think, are what’s ruined this country.


26 posted on 03/01/2014 7:29:41 PM PST by adorno (Y)
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To: grundle
The “dinosaur” that we rarely hear about are the drugs that have improved, prolonged, and changed our lives...what we do hear about is how medical costs are not rising as quickly under Obamacare as they used to - precisely because money is not going into these new developments as it used to - complaining that medical costs are so much more than they were a few years ago is like going to buy a Cadillac and complaining because it costs so much more than the Chevy you bought in 2010.....
27 posted on 03/01/2014 9:05:05 PM PST by Intolerant in NJ
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