Drugs

Foreign ‘Free-Riding’ on U.S. Drug Investment Up: Report

The White House Council of Economic Advisers (CEA) says that foreign “free-riding” on U.S. investments and innovations in drug development has increased over the last 15 years. In a report, “Funding the Benefits to Biopharmaceutical Innovation,” CEA argues that if developed countries did not pay below the value of new products, there would be greater potential for better treatments, cures, and healthcare around the world.

The report says that the federal government and the biopharmaceutical industry have been critical to improving health by leading the way in the research and development that enables drug discovery. “In contrast,” it says, “foreign countries often do not make equal investments in the research and development that is necessary to fuel innovation and ensure the economic viability of biopharmaceutical products…. The prices of many high sales volume pharmaceutical drugs in European countries have decreased from costing an average 51% of U.S. prices in 2003 to about 32% of U.S. prices in 2017. Many other developed nations with monopoly government insurance plans can push prices below the value of the treatment as reflected by U.S. prices paid by private insurers in a free market….U.S. patients and taxpayers have largely financed the international returns to medical research and development.”

CEA has estimated that more than 70% of patented pharmaceutical profits in Organization for Economic Cooperation and Development countries come from sales to U.S. patients, even though the U.S. represents only about one-third of the group’s gross domestic product. “Thus, U.S. patients and taxpayers finance most global research and development and company profits that make those investments economically feasible,” it says.

According to the report, the gap in prices between the U.S. and foreign countries, which appears to be widening over time, is due primarily to price controls and other nonmarket-based pricing practices in other countries that keep prices for products below the value they generate.

Gupta Raises Concerns About Overton’s Independence, Ideology

FDA commissioner nominee Heidi Overton’s responses on vaccines, contraception and abortion medication during her 9/24 Senate confirmation hearing raise concerns that ideology could influence her decision-making if she takes over the agency, MSNBC senior medical analyst Dr. Vin Gupta said Friday. Gupta was particularly critical of Overton’

Overton Confirmation Remains Uncertain After Senate Hearing

FDA commissioner nominee Heidi Overton emerged from her Senate confirmation hearing Thursday (see earlier story) without resolving questions about whether she has enough Republican support to advance — and with a rapidly narrowing window for confirmation before the midterm elections. The Senate Health, Education, Labor and Pensions Committee hearing provided few

FDA Classifies Boston Scientific Imager II Catheter Recall as Class I

FDA has classified Boston Scientific's recall of its Imager II Angiographic Catheters as Class I because a manufacturing problem could cause catheter tips to degrade and detach, potentially resulting in life-threatening complications. The agency announced the Class I classification 9/25, updating an Early Alert it issued

FDA Approves Gazyva for Childhood-Onset Idiopathic Nephrotic Syndrome

FDA has approved Roche’s Gazyva (obinutuzumab) for reducing the risk of relapse in adults and children aged 2 and older with frequently relapsing or steroid-dependent, childhood-onset idiopathic nephrotic syndrome who are in remission. The expanded approval covers the use of the CD20-directed antibody beyond its existing

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Gupta Raises Concerns About Overton’s Independence, Ideology

Overton Confirmation Remains Uncertain After Senate Hearing

FDA Classifies Boston Scientific Imager II Catheter Recall as Class I

FDA Approves Gazyva for Childhood-Onset Idiopathic Nephrotic Syndrome