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GidMK's profile
Health Nerd
Health Nerd
Health Nerd
Verified account
@GidMK

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Health NerdVerified account

@GidMK

Epidemiologist. Writer (Guardian, Observer etc). "Well known research trouble-maker". PhDing at @UoW Host of @senscipod Email gidmk.healthnerd@gmail.com he/him

Sydney, New South Wales
theguardian.com/profile/gideon…
Joined November 2015

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    Health Nerd‏Verified account @GidMK 7 Sep 2020

    If you ever want to get mad about capitalism, remind yourself that most drugs that cost >$10,000 a month to take are trivially inexpensive to manufacture and can usually still be massively profitable at a fraction of the cost

    9:51 PM - 7 Sep 2020
    • 30 Retweets
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    • Elke Brüser Laura Keller Wanda Lozinska HRMNZ 🦊✨ jaxxstrology🦄 🥳🐱🌈💉🌻 Queen Bea #BeKind & act, b/c we are all f*cked. Smiljana Skiba Covid19SupportGrpSA
    6 replies 30 retweets 136 likes
      1. Health Nerd‏Verified account @GidMK 7 Sep 2020

        And before everyone jumps in with "but what about research costs???" - revenue from the top 20 drugs worldwide would pay ~150% of the cost of the entire R&D spend for the companies that produced those drugs https://www.healthaffairs.org/do/10.1377/hblog20170307.059036/full/ …pic.twitter.com/SF9XpxaGPf

        4 replies 10 retweets 55 likes
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      2. Hubert Łępicki  🤍 ♥️ 🤍‏ @hubertlepicki 7 Sep 2020
        Replying to @GidMK

        This is only American problem, however. Capitalism works well in the industry outside of USA.

        1 reply 0 retweets 1 like
      3. Health Nerd‏Verified account @GidMK 7 Sep 2020
        Replying to @hubertlepicki

        It's definitely worst in the US, but that's largely because they have a very poorly structured pricing system

        2 replies 0 retweets 3 likes
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      2. Tanner Johnson‏ @Johnsontb1 7 Sep 2020
        Replying to @GidMK

        How much was spent on R&D to make it? That is what matters in drug cost. Recouping investor profits is the first requirement. After that, you can focus on cost from a standard business perspective.

        1 reply 0 retweets 1 like
      3. Health Nerd‏Verified account @GidMK 7 Sep 2020
        Replying to @Johnsontb1

        Actually, that's broadly untrue. Many blockbuster drugs are developed by small startups that then sell the IP to bigger companies to produce. More broadly, the entire spend on R&D by pharma is covered by the profits on the top 20 selling drugs alone

        2 replies 0 retweets 5 likes
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      1. Allegro‏ @yonikei 7 Sep 2020
        Replying to @GidMK

        I usually looked at it that way, but then I found out how much it costs to develop a drug, and how many don’t reach the mass market. What I do agree on is that after ten years all patents for quality of life-improving drugs should be free.

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      2. Julia L Bach‏ @JuliaLBach8 7 Sep 2020
        Replying to @GidMK

        Have you personally worked in manufacturing? How do you define “trivial”?

        2 replies 0 retweets 1 like
      3. Julia L Bach‏ @JuliaLBach8 7 Sep 2020
        Replying to @JuliaLBach8 @GidMK

        I’ll admit that cost of clinical trials probably outweigh manufacturing, but even that probably depends on the drug. Drugs manufactured for very small markets by companies that don’t have many others (i.e. low plant utilization) have much larger costs.

        0 replies 0 retweets 0 likes
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      2. Paul Wareham  🇨🇦‏ @pwareham 8 Sep 2020
        Replying to @GidMK

        Return-on-invested-capital (ROIC) is the benchmark that succinctly captures profit as a proportion of capital invested. While pharma tops the list, it’s not grossly out of proportion with say “household products”. Just say’in 🙂pic.twitter.com/OAytfrpTrI

        1 reply 0 retweets 2 likes
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