Word: phrma
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...drug industry, fired back that the GAO report only confirms that developing new drugs has become a more expensive, difficult and risky exercise for manufacturers. "Researchers are tackling increasingly complex diseases using new tools-such as genomics, proteomics and nanotechnology-that will take years to bear fruit," says PhRMA Senior Vice President Ken Johnson, adding that "more than 2,000 new medicines are in development, including 646 medicines for cancer, 146 for heart disease and stroke, 77 for AIDS, and 56 for diabetes...
...decades, taking gifts from drugmakers has been business as usual for doctors. The pharmaceutical industry spent $22 billion on marketing to physicians (including free samples) in 2003, up from $12.1 billion in 1999, according to data from Pharmaceutical Research and Manufacturers of America (PhRMA). The industry is on track to spend almost $3 billion in 2005 solely on meetings and events for physicians, according to Verispan, a health-care market-research firm in Pennsylvania. The drug industry argues, with reason, that gift giving evolved as a necessary tool for sharing information about new drugs with busy physicians who needed incentives...
...administering drugs, often in hospitals, are the fourth-or sixth-leading cause of death in the U.S., depending on how the cases are counted. By comparison, the risk from defective, counterfeit or mislabeled drugs from Canada is presumed but unproved by any evidence. When TIME asked a spokesman for PhRMA, the drug-industry association, if there were any cases of Canadian drug imports harming Americans, he said, "Yes, I believe there have been some. I believe FDA has some on its website." In fact, the FDA has no such record. Over and over, congressional committees have grilled FDA officials...
...does not make an issue of that.) An academic study in 2001, partly funded by the drug industry, estimated that it costs an average of $802 million to bring a single new drug to market, though that number is disputed by consumer advocates. Says Alan F. Holmer, president of PhRMA: "Developing new medicines requires cutting-edge science, enormous investment of time and money, and willingness to commit those resources in the face of expensive failure after failure. None of this is compatible with price controls." But no one really knows how the money is spent. Indeed, the industry has refused...
...refusal to even consider a regulatory framework, isn't the answer either. No one disputes that while there are many legitimate online pharmacies, the Internet at the moment also has its share of charlatans and hucksters offering dubious and possibly dangerous products. When TIME asked a PhRMA spokesman why the industry simply did not designate one or more Internet pharmacies as approved sites, he replied, "We really--we actually really don't have a position on that. It's the FDA that is investigating the Internet pharmacies and has some concerns about...