September 20, 2005
Go Big Pharma!
I haven't linked to Andrew Sullivan in many moons. To be honest, I stopped reading him after the elections in '04. He really has descended into Daily Kos territory, throwing away all of his conservative principles because he disagrees with the President on gay marriage. Sad to lose a great writer, but I couldn't possibly take any more.
One thing we do agree on, is the life giving and enhancing work of the drug companies and astonishmentat the antipathy they engender (maybe I'll get a "Poseur award" for that last sentence). Happily, Sully has been helped by new HIV drugs:
BACK FROM THE DOC: Just an HIV update. I've been on the new meds for a couple of months now and after a week or so of torpor, have no side-effects that I can speak of. My viral load - i.e. the amount of virus in my bloodstream - went from 141,000 particles per cubic mililiter of blood in late May to 1500 after ten days on June 2 and has now come down to a grand total of 121. Still not good enough. We're hoping for under 50 at the next count. My CD4 cell count - a sign of the strength of your immune system - has gone back into its normal range. Thank God for the evil pharmaceutical companies. One day, when the history of this period is written, I have a feeling we will look back with astonishment as we recognize that advances in medical science, particularly pharmaceuticals, were arguably one of the most significant developments of this era. And yet the people who pioneered these breakthroughs were ... demonized and attacked. Baffling and bizarre. I'm merely grateful the attacks haven't stopped the research progress. They've merely slowed it.
The problem, brother 'drew, is that you don't know how much they have been slowed by the lack of capital. Would you invest in a firm that a VP candidate "swears he is going to fight" A sector that the tot bar has its eyes on?
The P/E multiple in this sector is waaaay lower than it should be. With more money, they could discover more amazing drugs.
Hat-tip: Instapundit.
Pharmaceuticals Posted by John Kranz at September 20, 2005 3:38 PM
I wonder if Big Pharma's marketing isn't working against it. The endless TV commercials - "ask your doctor about..." I don't even know what half of these maladies are except that they can keep you from running through a field of flowers with your dog and a beautiful woman. (Do those come with the prescription or does the drug attract them?) My family practice office even has a room set up specifically for the pharma reps, last time I was there I saw 3 reps come through in 30 minutes. These are the folks taking the docs out for dinner and golf and spreading product imprinted tissue boxes, magazine holders and prescription pads around. I had to laugh when the 3rd rep had to move a product imprinted Kleenex box over on the table to fit hers in when that competing one had been placed there not 5 minutes before. This is what consumers see before being hit with the $5 per pill price. Hey, I have been in and out of product development for almost 20 years so I am usually the first to stand up and defend the cost of drugs based on what it costs to research and develop them, but those huge sales forces with their endless perks and prime time TV spots don't come cheap either. Not that they shouldn't be allowed to advertise their products and I am sure they do get people to "ask their doctor about.." but I wonder if it doesn't tarnish their image.
Posted by: Silence Dogood at September 21, 2005 4:43 PMI have heard a LOT of criticism about pharmaceutical marketing. I am of a different mind here.
I see it as empowered medical consumers. Did you know there was a pill to kill toenail fungus? Are there not people who have tried to control cholesterol through diet but have failed and might need medication?
For me, it is part of a grand movement from the experts in government, medicine, and academia, to the people. You bet I am tired of Cialis commercials, but I think it is a step in a free market, Hayekian distributed knowledge medical environment.
Posted by: jk at September 22, 2005 11:29 AM | What do you think? [2]