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Author: AcmeFool Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75335  
Subject: Re: Bush and the self employed Date: 2/6/2003 9:01 AM
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I know some people say that noone should profit off of something that is require to live.

Some do say that...but I believe that is a very naive way to think personally. If you don't allow profit on drug sales, why would anyone invest their money in the development of new drugs? If nobody will invest in R&D for new drugs, we either live with the current selection of the government does the R&D. The government will never be as efficient at developing drugs as Merck, Pfizer, etc. so drug development will either be slower, more expensive, or both.

I don't think too many people want to slow development...and if the R&D is more expensive, the net cost might end up the same despite the removal of profit from the picture.

AS a percent of revenues there are very few industries that spend as much on research as pharm companies.

Are there any? The only industry I can come up with off hand is defense...those guys spend a lot on R&D. But is it at the same level relative to revenues? I have no idea.

Just an aside, I heard an interesting stat yesterday that, while not directly related to drug costs, might make it easier to understand their higher costs here relative to other places. Currently in the United States, we pay about 10 cents of every dollar of income on food-related items. This is the lowest level in the world and the lowest level in recorded history. Since we are spending so little on food (relatively), maybe higher costs in some other areas are reasonable??? Just a thought...

ACME
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