Drugs: Caveats, Generics, Canada and Profits

Does anyone else groan when a drug commercial comes on the TV and begins to list all of the possible side-effects? You have to wonder how profitable such advertising can be. News of new drug patent laws in the US may also be cutting into those profits. Consider this clip from a Wall Street Journal post titled Drug Firms Attack U.S. Patent Plans:
A U.S. government proposal to bring cheaper generic drugs to the market more quickly and help curb health-care costs has triggered criticism from the European pharmaceutical sector. Many drug makers fear that cutting the patent protection for biologic drugs to seven years from 12 years will upend their business models and curtail their ability to develop new drugs and generate profits.
Add on top of this the mounting number of folks buying their drugs through Canada, where generics can be purchased before the US patent expires, and you have to wonder how the global market will impact the profitability of drug companies and their willingness to invest in expensive research. Even so, most of my drugs are generic. How about yours?
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4 comments:

  1. AnonymousFebruary 16, 2011 at 3:52:00 PM CST

    The possible side-effects of drugs advertised on TV is almost comical at times. Who in their right mind would be willing to die to get rid of green toe fungus? :-)

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  2. crownringFebruary 16, 2011 at 4:30:00 PM CST

    All four of my medications are generic, Bob. Luckily, they work for me. I've had friends who've had to fight their insurance companies to get non-generic medications because the generics either didn't work or had side effects that were life-threatening.

    I understand a company's need to make a buck. I also know that years of research don't always pan out. But it's hard to be sympathetic to a drug company's bottom line when people are often having to choose between paying for medication or paying for food.

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  3. WandaFebruary 16, 2011 at 5:19:00 PM CST

    I have to laugh at the commercials too.. I think the side effects are a lot worse than the problem.

    The majority of our Rx are generic.

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  4. Bar L.February 20, 2011 at 7:14:00 PM CST

    Yes, I groan at those too! I am not a fan of meds but between Keven and me I pay about $300 a month! 75% are generic and nice and cheap but the ones that aren't make up for it :(

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