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PrintNovember 5, 2009
Graph of the Day for November 5, 2009
"The high price of prescription drugs has put -- and kept -- U.S. pharmaceutical companies in the news recently, but Dr. Marcia Angell argues that problems with the industry run even deeper. In her new book, The Truth About Drug Companies: How They Deceive Us and What to Do About It (reviewed in the current issue of Mother Jones), the former editor of the New England Journal of Medicine contends that the industry has become a marketing machine that produces few innovative drugs and is dependent on monopoly rights and public-sponsored research."
Mother Jones, 2004.
Source: Congressional Budget Office.
Hoven's Index for November 5, 2009
Cost to develop a new drug, in 2003: $897 million.
Cost to develop a new biotechnology product, in 2006: $1.2 billion.
Cost to develop a new drug, in 2009: $1.3 billion.
(Links to data sources are embedded in text.)
