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Hold up. The Spiel I always heard was that without the FDA, no companies would innovate or make new drugs because they would be unable to recoup their profits, as another company could easily copy their drug.
[–]Facade0 points
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(edited ago)
Which is likely true at face value. Clearly it was the monopoly which spurred the research. However, in the current system, why do any research without the monopoly? If the FDA is willing to grant it, doing the research "pro bono" makes no sense. Furthermore, if the only way a company will do the research is if someone else pays for it, there are questions about the necessity of the research.
All of this is besides the point that the consumers of the medicine are de facto being made to pay for the research, without any say whatsoever in it except that they could perhaps stop taking their medication. So thats nice.
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[–] WinterIsComing 0 points 3 points 3 points (+3|-0) ago
Hold up. The Spiel I always heard was that without the FDA, no companies would innovate or make new drugs because they would be unable to recoup their profits, as another company could easily copy their drug.
Is the more common argument for regulation?
[–] Broc_Lia [S] 0 points 1 point 1 point (+1|-0) ago
I think the argument here is that without the monopoly they wouldn't conduct the extra research.
[–] Facade 0 points 1 point 1 point (+1|-0) ago (edited ago)
Which is likely true at face value. Clearly it was the monopoly which spurred the research. However, in the current system, why do any research without the monopoly? If the FDA is willing to grant it, doing the research "pro bono" makes no sense. Furthermore, if the only way a company will do the research is if someone else pays for it, there are questions about the necessity of the research.
All of this is besides the point that the consumers of the medicine are de facto being made to pay for the research, without any say whatsoever in it except that they could perhaps stop taking their medication. So thats nice.