Wednesday, August 12, 2015

Big Pharma uses your money to do drug research

The annual budget of the National Institute of Health is about $30 billion. Most of it supports health and drug research. Most of it goes to private companies that develop treatments and drugs that they sell for a profit.

One estimate is that our tax dollars are paying for about 33% of drug research.

The 11 largest Big Pharma companies made about $85 billion in profitss last year. The U. S. drug companies could easily pay back the federal aid that supported their research. Why didn’t they?

The Massachusetts legislature is considering bills to cap some drug prices and force pharmaceutical companies to publish their actual research costs and how much federal money they get for research.

I think that’s a great idea.

Now, as soon as the federal government authorizes the Social Security folks to start negotiating drug prices with the manufacturers, we’ll be ready to take the next step.

Health care costs too much in America. Some folks who provide health care are making too much money doing it.

Copyright © Richard Carl Subber 2015 All rights reserved.

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