Thursday, April 25, 2019

Biopharma Lobby Effort creates a conflict of interest

Mark Terry at BioSpace published a great article dissecting the lobbying efforts of the biopharma industry.
And not to be outdone, Kyle Blankenship at FierceBiotech also has an article out about the pharma lobbying effort in 2018:

Both of these articles are in response to the recent release of the lobbying numbers by the center for responsive politics on Mar 19th.

I have always been conflicted about the effect of money in the pharma industry.
On one hand, the significant amount of profit potential is the number one reason that the US has such a vibrant biotech industry, and why so many life saving therapies have been created and continue to be created.
On the other hand, this profit margin is a significant contributor to the incredibly high cost of healthcare in the US. And because other countries fix the prices of these drugs, the high development cost is subsidized by Americans while the world benefits from the discoveries.

Is this an accurate reading of the state of the industry? And what are your thoughts? Is anyone else conflicted about the fact that the profits of the pharma industry is intimately linked with the rising cost our healthcare?

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