Big Pharma may be spending big money on drug research, but it’s not getting big breakthroughs. That’s the assessment of a report released in December by the Government Accountability Office that blames patents, among other things, for why innovative new drugs aren’t coming to market.
From 1993 to 2004, pharmaceutical research and development spending jumped from $16 billion to almost $40 billion, adjusted for inflation, according to the GAO report. Despite the 147 percent increase in spending, the Food and Drug Administration saw only a 38 percent increase in new drug applications, according to the GAO. Worse, the GAO says, applications containing new molecular entities, or drugs containing unmarketed ingredients, climbed only 7 percent. The number of new drug applications approved overall has been dropping since 1996.
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