, along with other lawmakers, to celebrate passage of the Inflation Reduction Act and the steps it takes to lower healthcare costs. Technological solutions like artificial Intelligence won’t.Pharma claims that it needs high prices to support innovation. Policymakers believe that the companies demand exorbitant prices because they are inefficient—not an unreasonable conclusion given theThough it is not reflected in the output, pharmaceutical companies strive mightily to reduce expenses.
In clinical trials, he tries to determine to what extent his target causes the disease or is merely associated with it.
Thirty years and successive waves of advances from recombinant DNA to genomics to engineered proteins have vastly improved the quality of medicines and the number of treatable diseases, but they have alsoof drug development. If it is to make meaningful improvements, the industry must push into the unknown to the point where the failure rate is barely tolerable.
If price controls force drug developers to become more efficient, they must reduce the failure rate. The surest way to do that is to focus on incremental improvement of familiar products—slow release or a nighttime formulation or a bright new box—as most other industries do, rather than trying to find breakthrough drugs. R&D will be less inventive but dollar-for-dollar more productive, i.e. fewer failures.
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