Although most Americans appear to favor price controls on medicines, a recent survey indicates there is also some hesitancy if such a move would limit innovation that produces new drugs. The findings suggest warnings issued by the pharmaceutical industry that price controls might impede the flow of needed salves have caught the attention of a growing swath of the public.
Specifically, about 63 percent of adults do not want the government to control prices if that yields fewer innovative drugs, according to the survey of 1,240 adults released by Wells Fargo analyst David Maris. He noted there was little difference expressed regardless of the sex, age, or region of the country. In fact, 55 percent or more of each age bracket worried that innovation would suffer.
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Before y’all get in a twist, read below the report from the Evaluate Group, World Outlook, 2016-2022. Over this period of time drug prices are projected to grow at only a CAGR of just over 6 %. Now everybody: BREATHE.
http://info.evaluategroup.com/rs/607-YGS-364/images/wp16.pdf
Yes I have read and analyzed this. To get the numbers projected sales on average have to go up about $75 billion per year. Developed countries cannot deliver considering about 1.6 billion inhabitants who spend about $0.85 per day per patient per patient. On the other hand the remaining 5.6 billion (rest of the global population) spend about $0.06 per day per patient.
Achieving $75 billion per growth snouts to creating 1.5 Pfizer every year. A very unlikely situation when 80% of the population has to think how to scrounge two meals every day.
The numbers in the report are easy to project but need rationality.
Coming to drug innovation most of the recent medicines are for orphan diseases and are high priced for grw. Marginally better drugs are also high priced and unaffordable. Lot has to thought through.
Many times I consider many polls trying to speculate without thinking. Is the poll being quoted such a case?
Innovation is not a foreign word to the chemists and chemical engineers of the United States. If we can send a man to the moon and bring him back, yes we can innovate.
Let no one think or scare us of “lack of innovation”. However, it has to come from within the companies and not the regulators or any other government body. Yes they can nudge but “We the People” have and will always excel.
Let the Force be with US.
Ah, mr ed, they ‘may well be’ effective. What did Napoleon say about ‘God is on the side with the heavy artillery?’ Although given current events, surprise may be the new normal, yes?
Observer, as I once said to Mr Jimmy down at the corner drug store, while sipping my cherry coke, I said Jimmy, you can’t always get what you want, but if you try sometime you just might find you get what you need. Same goes for drugs.