The way I heard the story was: Other countries insist on knowing the composition of the medications. They then compute the cost and allow the manufacturer only a certain profit. They never take into account the cost of research and development involved. They only want to pay for the cost of production.
Exactly. We are subsidizing the cost of drug R&D for most other countries in the world. If the other countries would pay the R&D costs, drug prices would increase for them and decrease for us.
“They never take into account the cost of research and development involved. They only want to pay for the cost of production.”
That is why Americans have to pay for the product PLUS all the R&D on the drugs that make it to market PLUS the drugs that die in the labs and trials.
The world is freeloading on the backs of American consumers AGAIN.
“They never take into account the cost of research and development involved. They only want to pay for the cost of production.”
If you believe That whopper I got a nice bridge to sell you.
These numbers came out of a South Carolina Court decision on accusations JNJ/Risperdal defrauded their State Medicaid program.
“Annual Sales of Risperdal worldwide per annual reports of Johnson & Johnson, Inc.
1994: $0.172 Billion
1995: $0.343 Billion
1996: $0.502 Billion
1998: $0.588 Billion
1999: $0.892 Billion
2000: $1.083 Billion
2001: $1.845 Billion
2002: $2.146 Billion
2003: $2.512 Billion
2004: $3.05 Billion
2005: $3.552 Billion
2006: $4.180 Billion
2007: $4.697 Billion
2008: $1.309 Billion
2009: $1.425 Billion
2010: $1.50 Billion
Total for the period: $29.796 Billion
Testimony at trial indicated that the profit margin for sales of Risperdal was 97% or $28.90 Billion for the period of 1994-2010”
The research and development line is BS.
They spend much more on advertising.