Fixing pharma

Matthew Herper writes at Forbes about health care.  Last week he wrote a piece entitled Big Pharma: What Went Wrong?  Much of the article is a direct quote from Peter deVilbiss an ex-employee of Merck, who makes the obvious and off-stated point about pharma R&D: -

It takes a lot of profits from the few approved drugs that make it to market to pay for all the basic research and failed development candidates that lie beneath the surface and out of view of most people

Herper and many others are calling for two key reforms to 'save' Big Pharma: open source sharing of trial results and an end to direct-to-consumer (DTC) advertising.  I have no problem with either suggestion as either or both would improve the bottom line via a reduction in expenses and, in the case of DTC, improve the industry's American reputation.

As a consultant that works mainly outside the US (although regularly in Canada) and usually in more rarefied therapy areas like renal disease and oncology it strikes me that a lament on the evils of DTC is an analysis that is looking at the obvious rather than the important.  DTC is as much a symptom of the Blockbuster era as a cause.  I doubt that medical advances will ever again be as simple or as widely beneficial as the advent of the statins, COX-2 inhibitors and erectile dysfunction agents.  You won't see much DTC advertising of monoclonal antibodies because they're targeted therapies and the ROI on that sort of ad spend won't be there.

This is not to say that commercial medicine is about to get all classy: get ready for a massive increase and unedifying in TV ads for genetic screening: -

Did you know that you could be one of the millions of Americans who have cancer and don't even know it?  Call this number now...