The true crisis in pharmaceutical research
- The number of new drugs licensed remains at the long term average range of 15-25 a year
- However, 85-90% of new products over the past 50 years have provided few benefits and considerable harms
- The pharmaceutical industry devotes most research funds to developing scores of minor variations that produce a steady stream of profits
- Heavy promotion of these drugs contributes to overuse and accounts for as much as 80% of a nation’s increase in drug expenditure
- Overinflated estimates of the average cost of research and development are used to lobby for more protection from free market competition
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