Profit before innovation has been a recurring theme in the drug industry. Extending patents, reinventing old drugs, and spending more on advertising than research and development are everyday practices for leaders in the drug industry. At the BIO 2007 conference in Boston on Monday, Michael J. Fox challenged the industry to translate new basic research into breakthrough treatments for patients.
Fox is fed up with the repackaging and remarketing of old products. According to the Toronto Star, “Fox said pharmaceutical and biotechnology companies aren't interested in high-risk studies critical in determining whether creative ideas could yield therapies for the 20,000 human diseases that have no cure. They are more interested in repackaging old ideas and compounds in an effort to continue reaping vast returns.”
Fox said, “"Levodopa is the gold-standard treatment for Parkinson's, the disease I live with. Don't get me wrong, I love my meds... But it's a little frustrating that the best drug we've got is one that's been around for 40 years."
Advocates of the drug industry argue that the high cost for R&D have left the industry under funded. Fox commented, “I'd argue that filling the unmet needs of patients across all diseases isn't about more money, it's about spending the money more effectively.”
He went on to say, “But, hey, credit where credit is due – I couldn't be happier about the recent advances. What comes to mind is antidepressants for dogs, which makes it a little easier for me because my dog is feeling better.”
Through his speech, the former Back to the Future star made it clear that it is time that the pharmaceutical industry choose innovation over profits.
Click here for more information on ordering prescription medication from
online pharmacies.
