Almost all new drugs are developed for the U.S. market, regardless of where the company's headquarters are located. why? America is a large and wealthy country with an advanced medical system.America's gross domestic product per capita 65% higher than the UK, 57% higher than Germany and 87% higher than France.There is 4 americans Nine Americans for every German and every Canadian. We have a lot of wealthy people. Although the Food and Drug Administration is slow-moving, it is often faster than other countries' regulators when it comes to approving new drugs. Although far from a free market, our health care system is freer than many other countries. In countries with single-payer systems, negotiating prices for new drugs often takes one to two years. If the patent is granted for his 20 years, and his first 13 years are devoted to development and approval, the patent-protected sales period remains for only his 7 years. When two years are added to the schedule for redemption negotiations, the interval is reduced to five years.
If a new drug is successful in America, it will be developed. If you can't do that, then it's not you. Other countries are considered secondary. They are the cherry on top. We are Sunday.
This is a message from David R. Henderson and Charles L. Hooper.Be thankful for high drug prices,” wall street journalFebruary 4, 2024 (Print version February 5.) We used the WSJ editor to close an editorial on Sunday, which is something I've never done before. .
The full text will be posted in early March.
I haven't been able to post much over the past few days due to another power outage. There was a strong wind blowing down a large tree. Sunday morning, while I was finishing up work, the power went out. Thanks to modern technology called cell phone hotspots, it won't be back up until Thursday evening. But this time we have a generator, which preserves the food in the refrigerator and also provides lighting.
As we were wrapping up our editorial, we saw a talk by Deirdre McCloskey in Washington, DC, on Saturday. It contradicted what we had written. I'll be posting about her reasoning in the next few days.
update: Robin Pennacchia, at The Wonkette, Reply. YMMV.
