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Originally Posted by borked
fair point, with one major flaw ....R&D is costly, but it's pharma companies that use that to justify their costs of their pills. A couple of tens of millions of US$ to get a drug to the counter - a drop in the ocean compared to what they make selling and licensing it.
What they fail to disclose (in such statements) is about 15-20% of R&D is done in govt-funded laboratories (around the world, not jsut US), and what do those non-profit labs get in return for the hard research? about 100k/year during the length of the contract. Of that, I'm 100% sure.
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The Pharma companies ONLY send the things to test in that facilities if they want to start with world wide sales. At least thast the way it was when I worked for a pahrma company.
Quote:
Originally Posted by mynameisjim
Good point. But the really sad thing is that Americans are really just just subsidizing advertising. Pharma companies spend much more on advertising and promotion then they do on R&D.
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Not exactly true.. The company I was working for, spent 17.4 million in R&d for its first drug. Spent 8.9 million on advertising 1.1 million on I believe they called it Drug seminars. ( thats where they treat a bunch of doctors to a weekend away ) and made 98million in the first 2 years.
Last I heard, those companies were in business to make a profit. So...