Is there a lack of innovation in drug development?
[this is taken from Find It, File It, Flog It]
Is there a lack of innovation in drug development?
PhRMA, the Pharmaceutical Research and Manufacturers of America, counters any argument that Big Pharma lacks innovation. This is what the industry body has to say on the topic:
“As one of the most research-intensive and science-driven industries in the US, the Pharmaceutical industry is committed to the research and development (R&D) of new treatments and cures for patients, including those who have serious unmet medical needs. With more than 7,000 innovative drugs in development worldwide by Pharmaceutical companies and over $500 billion invested in R&D since 2000, hope is certainly on the horizon.”
At the same time, there are mounting complaints from a number of quarters about “me-too” drugs. These are drugs that are approved for sale even though they are no better than the ones already on the market. One of our expert witnesses, Jack Shapiro, president of JM Shapiro Healthcare Marketin…