Innovation

Home > Issues  > Innovation (Page 2)

On this page, you’ll find the Center’s analysis on how free-market policies can better balance the competing interests of medical innovation and competition. Here, you’ll find our research and commentary on such issues as patents, research and development spending, and reforms that will promote more robust competition.

May 15, 2020 Innovation, Issues

Medical innovations do not happen overnight. Whether it is gene therapies, new vaccines, or cutting-edge medical equipment, developing innovative medical products is a risky venture. It also takes time, lots of financial resources, and most importantly, human ingenuity. Developing new drugs, for instance, can take between 10 and 15 years. Now, more than ever, it is imperative that our regulatory framework encourages innovation and protects the intellectual property that makes innovation possible. Otherwise, the medical advancements we desperately need will cease....

April 27, 2020 Blog, Coronavirus, Innovation

How hydroxychloroquine toes the line between promise and 'happy talk' in the coronavirus fight By: Anjalee Khemlani After weeks of polarizing debate over the use of two generic anti-malarial drugs, hydroxychloroquine and chloroquine, the Food and Drug Administration this week warned they were not “safe and effective” when used on COVID-19 patients. However, the hydroxychloroquine debate is far from over, as the drug gets qualified support from others deeply involved in the war against the coronavirus, and is used to treat COVID-19 patients...

April 22, 2020 Blog, Coronavirus, Innovation

Covid-19 cases, hospitalizations and deaths are leveling off in hot spots like Seattle and New York. New infections should soon begin to decline, and many parts of the country will be able to start a phased return to “normal.” Yet without a vaccine, normality will look very different than it did before the pandemic. The medical community and the public are hungry for news about vaccines, but accounts of progress have been exaggerated. Anthony Fauci, director of the National Institute of...

March 25, 2020 Blog, Coronavirus, Innovation

Optimism is in short supply as the coronavirus pandemic grows deadlier by the day. COVID-19 has taken thousands of lives around the world and upended nearly every aspect of daily life. But there is at least one bright spot in this global public health emergency. That's the astounding speed with which private firms have begun tackling the problem. While federal regulators have exacerbated the crisis at seemingly every turn, private firms have rolled out promising new therapies and technologies that could...

March 23, 2020 Blog, Coronavirus, Innovation

As the United States ramps up rapid testing for the coronavirus, the results will surely show a sharp uptick in the number of cases of coronavirus-caused COVID-19. Those tested will learn whether they are infected, but, paradoxically, the public – and public health officials – will not know whether the overall results are encouraging or discouraging, because the rates of the coronavirus infectivity and mortality will remain poorly understood. The existing tests will not identify the potentially large numbers of people who were...

March 11, 2020 Blog, Coronavirus, Innovation

When President Trump met with drug-company executives at the White House on March 2, at the top of the agenda was the development of a vaccine to prevent COVID-19, the respiratory infection caused by the Wuhan coronavirus, SARS-CoV-2 (the World Health Organization’s designation for the virus). “We’ve asked them to accelerate” work, the president told reporters. As the coronavirus outbreak accelerates, with cases now found on every continent except Antarctica, and the world is hit with widespread social and economic disruption,...

February 12, 2020 Blog, Coronavirus, Innovation, Issues

As the outbreak of a novel coronavirus accelerates in China, and sporadic cases appear elsewhere in Asia, North America, Australia, and Europe, there is intense interest in the development of a vaccine, and several U.S. drugmakers have begun working on them with the National Institutes of Health. As the Wall Street Journal noted in a Jan. 30 editorial, “It took scientists 20 months to develop a SARS vaccine to test on humans, but the NIH hopes to have a vaccine ready for human trials...

February 6, 2020 Coronavirus, Innovation, Issues, Multimedia, Radio

https://www.youtube.com/watch?v=so744sbVJ_E Dr. Henry Miller, senior fellow with PRI’s Center for Medical Economics and Innovation, joins PRI's "Next Round" podcast to discuss the Wuhan Coronavirus. We explore a wide variety of topics related to this public health crisis, including how people get the illness and how it is being treated, how the Chinese and U.S. governments are working to combat it, the prospects for the rapid development of a vaccine, how social media disinformation is fueling the crisis, and how concerned Americans...

January 20, 2020 Blog, Innovation

Much of the progress in medicine during the past half-century has involved expensive, high-tech diagnostic tests and therapies. The trend in this direction worries health economists and politicians because it has the potential to send already high health care costs into the stratosphere. Health care spending in 2017 reached $3.5 trillion, or a whopping 17.9% of the nation’s gross domestic product, according to government statistics. However, there is an important role as well for ingenious, low-tech, less-expensive approaches to improved health...

November 7, 2019 Blog, Innovation, Policy Proposals

Once wide coercive powers are given to government agencies…such powers cannot be effectively controlled. F.A. Hayek As part of the chorus calling for drug price controls, the New York Times editorial page has claimed that “Americans will need to accept a trade-off that other advanced nations long since come around to: Slightly fewer new drugs will come to market, in exchange for better prices on the medications that already exist”. There is not one part of this statement that is true. Worse, if the Times’...

November 7, 2019 Blog, Innovation

Did you catch the story about the swarm of 25,000 bees that had to be captured and removed (by a special police unit, no less) from the Staten Island Ferry Station in New York City? After many years of media reports about honeybees and wild bees dying off, you’d think they were nearly extinct — so what were 25,000 of them doing at a ferry terminal in one of the world’s most densely populated cities? Maybe they heard that New York was...

October 29, 2019 Innovation, Price and Costs

“Three hundred forty-five billion dollars in savings versus the cost of eight to 15 fewer drugs over 10 years, I frankly think it’s worth it.” Rep. Darren Soto (D-FL), hearing before the House Energy and Commerce Committee In the above quote, Representative Soto is defending H.R. 3, the drug price control bill Speaker Nancy Pelosi is advocating. While the Congressman believes that the costs of price controls are “worth it”, patients living with diseases that lack an effective treatment may disagree. While there has...

October 10, 2019 Blog, Innovation

Every so often, we scientists encounter something that is so misguided, so wrong-headed, so perfectly idiotic it takes our breath away. It offends us. Such an example is a docudrama film called “Modified.” Disguised as a tender, sentimental story of a Canadian woman learning over many years from her mother the value of home-grown, homemade food—a sort of culinary version of “Anne of Green Gables”—it is nothing more than an anti-social screed providing fodder for the anti-science, anti-corporate echo-chamber that...

October 2, 2019 Briefs, Industry Trends, Innovation, Price and Costs, Resources

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_empty_space][qode_button_v2 target="_self" font_weight="500" hover_effect="" gradient="no" text="DOWNLOAD THE PDF" link="https://medecon.org/wp-content/uploads/2019/10/BiosimilarSavings_web.pdf" color="#ffffff" hover_color="#ffffff" background_color="#a21e2c" hover_background_color="#000000" font_family="arial"][vc_empty_space height="12px"][vc_column_text]Biosimilars have the opportunity to bring significant savings to state Medicaid programs and consumers with commercial insurance according to a new study released today by Pacific Research Institute. “Every state would experience significant savings in the state Medicaid programs from expanding the use of biosimilars compared to the more expensive originator biologics,” said Dr. Wayne Winegarden, director of PRI’s Center...

May 30, 2019 Innovation, Policy Proposals

The U.S. economy thrives on innovation. According to the U.S. Patent and Trademark Office, industries that intensively rely on intellectual property (IP) protections, which includes the biopharmaceutical industry, account for nearly 40 percent of the U.S. economy and are responsible for an outsized share of our overall economic growth. Beyond the growth benefits, innovations improve our lives in countless ways. From mobile technologies inaptly called “mobile phones” to cutting-edge medicines that treat formerly incurable diseases, innovation helps us live better lives. Within this...

May 8, 2019 Innovation

In its international edition on April 25, the New York Times ran a blatantly anti-Semitic political cartoon that portrayed a blind President Trump wearing a yarmulke being led by Israeli Prime Minister Benjamin Netanyahu, who was depicted as a dog wearing a collar with a star of David. It was, of course, outrageous, and seemed to me symptomatic of the Times' cluelessness about many things. Putting it another way, its editors, reporters, and columnists often don't know what they don't know....

April 19, 2019 Innovation

Gene therapies are transformative treatments that fundamentally differ from traditional medical and pharmaceutical options because they modify a patient’s DNA in order to address the genetic causes of diseases. These therapies have the potential to dramatically improve the lives of millions of Americans living with life-threatening or life-altering diseases. Since gene therapies directly address the genetic causes of diseases, doctors and scientists anticipate that these therapies will be cures. If successful, the goal will no longer be simply treating these devastating diseases...