Prostate Cancer Research Supporter (Posted: October 19, 2010)
The Obama administration (and the Bush administration before it) has written the rulebook of how a government can destroy capitalism in the biotech industry with its attack on Provenge (which by the way, has the “added” benefit of not only creating American jobs, but saving lives). First, delay the launch of a treatment and cause a fledgling biotech to spend years and billions of dollars to get a proven drug to market (i.e., FDA) and then after they have finally done that, have CMS institute an NCA on such novel, first-of its kind treatment (that, by the way, is both more effective and has far few dangerous, nasty side effects than the alternative (chemo)). How come nobody else is outraged? Shouldn’t other politicians be outraged. Even if you are anti-Dendreon and think “this is just a drug that extends lives for old people with prostate cancer”, this approach severely hampers investments in future biotechs with other novel approaches.