Graph of the Day for November 5, 2009

Randall Hoven
"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.)
"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.)