The NYT discusses the Food and Drug Administration's drug approval process which often allows drugs on the market before there is direct evidence of their effectiveness. It would have been worth noting how government patent monopolies distort this process.
Drug companies are anxious to gain patent rents and therefore will aggressively lobby the FDA to approve their drug, whether or not their has been sufficient testing. By contrast, in cases where there are already a number of drugs to treat a specific health condition, like those discussed in this article, it would be socially beneficial to require long and extensive testing, since there is little reason to believe that a new drug will offer substantial addition benefits.
The article quotes an industry representative as complaining that such a requirement would be expensive and discourage the development of new drugs. Of course that is precisely the desired outcome. We would rather see drug companies pursue cures for health conditions where current treatments are inadequate than try to develop copycat drugs. This point should have been discussed explicitly in the article.
I’m writing to you today with a sense of urgency that I haven’t felt since I began my journalism career. As executive editor of The American Prospect, I’ve witnessed firsthand how independent journalism serves as a crucial bulwark against the erosion of our democratic institutions. Today, that role is more vital than ever. Can you step up today and show your support?
The winds of authoritarianism are blowing stronger. We’re seeing alarming signs of a coordinated effort to silence critical voices and undermine the very foundations that support progressive causes. As Bob Kuttner presciently wrote in our August 2024 issue, a weaponized IRS could attack the very foundations of the progressive movement. We need readers to step up and help us dig in for the long haul.
We’re falling behind in our spring fundraising campaign, and with so much at stake we can’t afford to come up short. If you value fearless, independent journalism that holds the powerful accountable and defends democracy, now is the time to step up. The American Prospect depends on reader support to stay in the fight. Pitch in today and help us close the gap. Please consider making a donation today.
–David Dayen, Executive Editor
Copyright 2025 | The American Prospect, Inc. | All Rights Reserved