Pharmaceutical companies argue that high drug prices are required to recuperate the expenses of research and development, but researchers discovered no relationship between the two. A multinational team of scientists examined whether high R&D (research and development) expenditures account fo
Costly research and development aren’t necessarily why drugs are so expensive.
“There is a presumption that high R&D costs justify high drug prices. If that were true, then we’d see a positive association between the two measures,” said first author Olivier Wouters, Ph.D., assistant professor at the London School of Economics and Political Sciences. The researchers compared information on drug pricing and R&D expenditures. They discovered no connection between pharmaceutical corporations’ R&D spending and the prices they charge for new drugs. The therapeutic value of a product was also evaluated by the researchers, but they discovered no link between therapeutic value and price.
Americans spend more on prescription drugs per capita than citizens in any other country. In 2019, that worked out to more than $1,200 per person. A 2021 Rand Corporation study found U.S. drug prices were 2.56 times higher than those in 32 comparable countries. A Kaiser Family Foundation Health Tracking Poll published earlier this year found that eight in 10 adults said the cost of prescribed medications was unreasonable.
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