Tuesday, November 18, 2014

Former Obama Aide Demolishes NY Times Claim That Gruber’s Role Was “Limited

On the same morning that NYT published an editorial claiming that Jonathan Gruber’s role in crafting Obamacare was “limited,” former Obama administration advisor Steven Rattner told MSNBC that Gruber was in fact “the guru” in putting together the Affordable Care Act.

1 comment:

  1. November 18, 2014
    Cost to Develop and Win Marketing Approval for a New Drug Is $2.6 Billion

    BOSTON – Nov. 18, 2014 – Developing a new prescription medicine that gains marketing approval, a process often lasting longer than a decade, is estimated to cost $2,558 million, according to a new study by the Tufts Center for the Study of Drug Development.

    The $2,558 million figure per approved compound is based on estimated:
    Average out-of-pocket cost of $1,395 million
    Time costs (expected returns that investors forego while a drug is in development) of $1,163 million

    Estimated average cost of post-approval R&D—studies to test new indications, new formulations, new dosage strengths and regimens, and to monitor safety and long-term side effects in patients required by the U.S. Food and Drug Administration as a condition of approval—of $312 million boosts the full product lifecycle cost per approved drug to $2,870 million. All figures are expressed in 2013 dollars.

    The new analysis, which updates similar Tufts CSDD analyses, was developed from information provided by 10 pharmaceutical companies on 106 randomly selected drugs that were first tested in human subjects anywhere in the world from 1995 to 2007.

    “Drug development remains a costly undertaking despite ongoing efforts across the full spectrum of pharmaceutical and biotech companies to rein in growing R&D costs,” said Joseph A. DiMasi, director of economic analysis at Tufts CSDD and principal investigator for the study.

    this is the way we line our pockets, line our pockets, line our pockets...