President Donald J. The Trump Administration has prioritized funding for fundamental AI research and computing infrastructure, machine learning, and autonomous systems. The Trump Administration is enabling the creation of new American industries by removing regulatory barriers to the deployment of AI-powered technologies. Last September, the Department of Transportation released an update to the Federal Automated Vehicles Policy, providing non-regulatory guidance to automated vehicle developers to enable the safe integration of driverless cars onto American roadways.
Abiraterone, for instance, is a drug used to treat metastatic prostate cancer. The Food and Drug Administration initially approved it in to treat patients who failed to respond to previous chemotherapy.
It does not cure anyone. The research suggests that in previously treated patients with metastatic prostate cancer, the drug extends life on average by four months. Last year, the FDA approved giving abiraterone to men with prostate cancer who had not received previous treatment.
This explanation is common among industry executives. To many Americans, it can seem plausible and compelling. But invoking high research costs to justify high drug prices is deceptive.
No matter the metric, drug prices in the United States are extreme. On average, citizens of other rich countries spend 56 percent of what Americans spend on the exact same drug.
The 7 most revealing moments from a major drug-pricing hearing Excessive drug prices are the single biggest category of health-care overspending in the United States compared with Europe, well beyond high administrative costs or excessive use of CT and MRI scans. And unlike almost every other product, drug prices continue to rapidly rise over time.
HHS estimates that over the next decade, drug prices will rise 6. Basic economic principles suggest that drug prices should be going down, not up: For most drugs, manufacturing volumes are increasing, and little new research is being conducted on those already on the market.
Reducing these high drug prices has become a major political concern—and a rare bipartisan cause for Democrats and Republicans to rally around, albeit with disagreement about how to actually get it done. Yet every time Congress debates doing something about drug prices, the industry—and the advocacy groups it funds—vociferously returns to the point that lower prices will thwart innovative research.
But there are many reasons to question the widely held notion that high drug prices and innovative research are inextricably linked. The most telling data on a disconnect between drug prices and research costs has received almost no public attention.
Peter Bach, a researcher at Memorial Sloan Kettering, and his colleagues compared prices of the top 20 best-selling drugs in the United States to the prices in Europe and Canada. They found that the cumulative revenue from the price difference on just these 20 drugs more than covers all the drug research and development costs conducted by all the drug companies throughout the world—and then some.
More excess profit comes from the next or brand-name drugs. Drug companies tend to say they are unique in needing to spend a higher proportion of their capital on research than almost any other industry. But of all the companies in the world, the one that invests the most in research and development is not a drug company.
If you watch television, you know part of the answer to where this extra money is going: Of the 10 largest pharmaceutical companies, only one spends more on research than on marketing its products. There are several reasons to suspect that number is unreliable.
The authors say the data come from research spending on drugs produced by 10 of the top 50 multinational pharmaceutical companies, but the underlying data are deemed proprietary and confidential.
Tufts also uses a cost-accounting methodology that appears to significantly inflate its estimate. Tufts uses an interest rate of That one change would reduce the Tufts estimate by about a quarter of its total figure. But in Novembera study published in JAMA Internal Medicine examined the costs of developing 10 cancer drugs approved by the FDA from to and provided a strong contrast to the Tufts study from a year before.
Its authors, from Memorial Sloan Kettering and the Oregon Health and Science University, used annual financial disclosures from the Securities and Exchange Commission for companies that had only one cancer drug approved but had on average three or four other drugs in development.
They found that companies took an average of 7. Pharmaceutical companies often claim that the research costs of unsuccessful drugs also have to be taken into account.Apply for the REI Co-op World Mastercard ® and you'll earn a $ REI gift card upon approval, activation and purchase within 60 days.
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How to Write a Paper to Communicate Your Research. Gross domestic spending on R&D is defined as the total expenditure (current and capital) on R&D carried out by all resident companies, research institutes, university and government laboratories, etc., in a country.
It includes R&D funded from abroad, but excludes domestic funds for R&D performed outside the domestic economy.