Sunday, January 23, 2011

Govt Should Not Be In The Drug Business

This is a huge example of what government should not be doing, especially since it was government that created the need they are now attempting to fill.

Federal agency to spearhead new drug-development center

The Obama administration has become so concerned about the slowing pace of new drugs coming out of the pharmaceutical industry that officials have decided to start a billion-dollar government drug development center to help create medicines.

The new effort comes as many large drugmakers, unable to find enough new drugs, are paring back research. Promising discoveries in such illnesses as depression and Parkinson's that once would have led to clinical trials are instead going unexplored because companies have neither the will nor the resources to undertake the effort. Drug companies have typically spent twice as much on marketing as on research, a business model that is increasingly suspect.

The line I highlight in bold is such a false statement that I am appalled it made it into print. Big Pharma doesn't have the "will" to make more money through the development of new drugs? Hah! I thought this was the big complaint about Big Pharma, that they actually wanted to make a profit from their research and development. Lack of "will" is a false flag denoting they don't care which is a lie.

That they don't have the "resources" might be true in the sense that the federal government has crippled them with rules, regulations, taxes and lawsuits. In fact, Big Pharma is not going to produce new drugs with which they can not only not make money, but may get them sued, put in prison and put out of business. Thanks Big Government for what you have done for us by hurting Big Pharma.

Government should not be in competition with the private sector. They do a lousy job, cost jobs and flatten the market for anything new and good.