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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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    1. 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

      6 replies 30 retweets 136 likes
      Show this thread
    2. 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
      Show this thread
    3. crankycatcoder‏ @crankycatcoder 7 Sep 2020
      Replying to @GidMK

      Now do the ones that fail.

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

      This includes the ones that fail - it's the ENTIRE R&D spend! So you can pay all the costs of every drug that is approved and failed with just the top 20 earners (the next few hundred are pure profit for these companies)

      2 replies 0 retweets 4 likes
    5. crankycatcoder‏ @crankycatcoder 7 Sep 2020
      Replying to @GidMK

      It's the entire R&D spend for the companies that had blockbuster drugs. Now include the spend for companies that invested in failures.

      1 reply 0 retweets 0 likes
    6. Health Nerd‏Verified account @GidMK 7 Sep 2020
      Replying to @crankycatcoder

      All of these companies invested in failures

      1 reply 0 retweets 0 likes
    7. crankycatcoder‏ @crankycatcoder 7 Sep 2020
      Replying to @GidMK

      Sure, but they had blockbusters. Now include the ones that went bankrupt. Come on. Have some integrity.

      1 reply 0 retweets 0 likes
    8. Health Nerd‏Verified account @GidMK 7 Sep 2020
      Replying to @crankycatcoder

      In 2015, the 15 companies listed appear to have accounted for roughly half of global expenditure on pharmaceutical R&D. So these 20 drugs would only just about cover the total global expenditure on R&D that year (very crudely)

      1 reply 0 retweets 0 likes
    9. crankycatcoder‏ @crankycatcoder 7 Sep 2020
      Replying to @GidMK

      1) cite rather than illegible screen shot from who knows what. 2) What's the ROI? Happy to argue if you actual data.

      1 reply 0 retweets 0 likes
      Health Nerd‏Verified account @GidMK 7 Sep 2020
      Replying to @crankycatcoder

      The total expenditure figure is from Statista, so might be a bit of an underestimate: https://www.statista.com/statistics/309466/global-r-and-d-expenditure-for-pharmaceuticals/ … ROI is, according to the article I cited, ~15-25% which is pretty impressive

      10:20 PM - 7 Sep 2020
      • 1 Like
      • Maria hauschel
      2 replies 0 retweets 1 like
        1. Tyler Goldberg‏ @ImTylerGoldberg 7 Sep 2020
          Replying to @GidMK @crankycatcoder

          It’s great but not crazy

          0 replies 0 retweets 0 likes
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        2. crankycatcoder‏ @crankycatcoder 7 Sep 2020
          Replying to @GidMK

          You're being obscure. Your explanation for this?https://fortune.com/2019/12/18/big-pharmas-return-on-investment-plummets-to-a-dismal-10-year-low/ …

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

          Pretty easy - pharma is incentivized to estimate high costs for R&D (it's their main defense against cost regulation). The real ROI is likely far higher, given that the true cost is much lower i.e.https://www.theatlantic.com/health/archive/2019/03/drug-prices-high-cost-research-and-development/585253/ …

          1 reply 0 retweets 1 like
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