Explore BrainMass

Developing Drugs

Do you believe the current system of protecting newly developed drugs for seven years from going generic and thus allowing the pharmaceutical company that developed it to charge prices that not only cover the research and FDA approval processes but also create reserves that cover legal suits, failed research, failed approval processes and company profit?

Simply put: are you willing to pay more for current drugs to insure the development of even new drugs?

Solution Preview

Absolutely I am! Without it a major reason (not the only one but a VERY important one) for developing new drugs would disappear! To develop new drugs is a most costly (REALLY EXPENSIVE), uncertain, potentially dangerous, complicated and time consuming business so the profit motive is very much needed to urge the industry to produce new drugs. Without it most certainly much fewer new drugs would be developed and we would ALL suffer from that. It is a fact that during the 70 years or so of communism/socialism (no profit mechanism) in the Soviet Union (a ...