The Therapeutics Letter out of British Columbia reports that "Canada now spends 25% more on pharmaceuticals than on doctors." And "me too" drugs are responsible for 80% of the increase in spending. "Me too" drugs are new drugs that are basically old ideas in new wrapping - new competitors that don't represent a major advantage over existing alternatives but which allow drug makers to compete for a slice of a lucrative pie.
They report similar findings in France and Sweden.
The piece concludes that, "Since most new “me-too� drugs are much more expensive than equally effective older drugs, they represent a waste of health care resources. Physicians collectively have the power to prevent this waste and thus free up money for other sectors of the health care system. ... If the increased use of “me-too� drugs in Canada could be stopped for just one year, we could save more than $1 billion off of total drug costs. After this one-year break, even if everyone went back to usual prescribing patterns, the savings generated and carried forward would pay for the salaries of 4000 new primary care physicians."
Interesting post!!!!! It reflects an issue that needs some attention. These so called “me too� drugs are equally effective as the other older drugs but their price is much higher then its older counterparts. The factor responsible for this variation in price is undoubtedly the profit which is associated with these “me too� drugs. If the usage of fancy wrapping drugs would be stopped for some period of time it might not only save health care resources but also discourage the companies that seek huge profits in heath care sector.
Posted by: Custom Essay Writer at September 19, 2006 10:34 AM