Drudge Retort: The Other Side of the News
Friday, April 19, 2019

The Tax Cuts and Jobs Act, a signature piece of legislation from President Donald Trump in 2017, has been a windfall for big business. It was supposed to be a job-creation and investment engine, too. But top drugmakers channeled most of their savings to investors, not R&D or price cuts.

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No chit! Nobody could have anticipated...

#1 | Posted by oldwhiskeysour at 2019-04-19 10:46 AM | Reply | Funny: 1

That's because the dials were turned to favor taking money out of a business, and to disincentivize reinvesting in the business.

If the folks who control the levers don't even know which way the dial turns, they shouldn't be in control of the levers.

#2 | Posted by Danforth at 2019-04-19 10:57 AM | Reply | Newsworthy 1

They don't need to pay for R&D, that's for the people who later be milked dry when they get sick.

We pay for the R&D at publicly funded universities, the patents are given to their companies, then they bleed us dry when we need the products that we have already paid for.

It's quite a scheme.

I wonder when half of the people who post here will get tired of being preyed on in the name of freedom.

#3 | Posted by MrSilenceDogood at 2019-04-19 12:08 PM | Reply | Newsworthy 2

If the folks who control the levers don't even know which way the dial turns, they shouldn't be in control of the levers.

#2 | POSTED BY DANFORTH AT 2019-04-19 10:57 AM | REPLY | FLAG

They know which way the dial turns and what it does. They just have the ability to go in front of the public and lie through their teeth to sell it to the schmucks that believe them.

#4 | Posted by Nixon at 2019-04-19 12:09 PM | Reply | Newsworthy 3

www.pnas.org

FTR:

In the present study, we examined the scope of NIH support for published research associated with the 210 NMEs approved by the FDA from 2010–2016. Specifically, we used PubMed to identify publications related to each of these NMEs as well as the 151 known molecular targets for these drugs. We then used the NIH RePORTER database to identify publications that cited NIH funding, the core projects (i.e., grants) that supported this research, and the fiscal-year costs of those projects. We specifically focused on the 84 first-in-class drugs approved from 2010–2016, identifying publications, projects, and project costs leading to the first approval of these innovative therapeutics.

We identified NIH-funded research associated with every one of the 210 NMEs approved from 2010–2016, most of which was focused on the biological targets rather than on the drugs themselves. This research comprises over 2 million publications and was supported by more than 200,000 fiscal years of federal (primarily NIH) funding totaling more than $100 billion. These results demonstrate the scale of basic research involved in bringing a novel product to market and the magnitude of public sector support for this research.

#5 | Posted by MrSilenceDogood at 2019-04-19 12:14 PM | Reply

No one could have predicted that big corps of all sorts would funnel their savings to themselves... and give some back to their political underlings.... well, no rwinger could have.

#6 | Posted by Corky at 2019-04-19 12:45 PM | Reply

In other news, 401k portfolios had gains, making retirees gleeful

#7 | Posted by Petrous at 2019-04-19 12:46 PM | Reply

In other news, 401k portfolios had gains, making retirees gleeful

#7 | Posted by Petrous

So you're celebrating affluent boomers further prospering from the suffering of others.

#8 | Posted by SpeakSoftly at 2019-04-19 01:14 PM | Reply | Newsworthy 1

"In other news, 401k portfolios had gains, making retirees gleeful"

We saw this movie before, what Wall St. gives, Wall St. can take away.

#9 | Posted by danni at 2019-04-19 01:21 PM | Reply

"So you're celebrating affluent boomers further prospering from the suffering of others."

It's not a generational divide, it's a class war. Jarred Kushner and Ivanka Trump aren't boomers.

#10 | Posted by danni at 2019-04-19 01:22 PM | Reply

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It's not a generational divide, it's a class war. Jarred Kushner and Ivanka Trump aren't boomers.

#10 | Posted by danni

No but they benefit from the corrupt system the boomers spend decades building for themselves, and are now pulling the ladder up behind them.

#11 | Posted by SpeakSoftly at 2019-04-19 01:53 PM | Reply

"No but they benefit from the corrupt system the boomers spend decades building for themselves, and are now pulling the ladder up behind them."

I am a boomer and I know lots of other boomers who don't support any of that. I know young folks who are dedicated Trumpers.

#12 | Posted by danni at 2019-04-19 02:31 PM | Reply

I'm not saying all boomers are evil, but boomers are the generation that came up with a lot of really harmful elements of our society. At the same time they benefited from the society the most, taking so many resources that everyone after them will have less. All THEIR retirements and healthcare are fully funded, and WE will all be taking cuts in our benefits because of it.

#13 | Posted by SpeakSoftly at 2019-04-19 02:39 PM | Reply

But they vote, so they get what they want. No politician dares cut anything that affects the boomers.

#14 | Posted by SpeakSoftly at 2019-04-19 02:39 PM | Reply

Millenials and minorities stupidly dont vote, so politicians put them on the chopping block first.

#15 | Posted by SpeakSoftly at 2019-04-19 04:07 PM | Reply

In other news, 401k portfolios had gains, making retirees gleeful

#7 | POSTED BY PETROUS AT 2019-04-19 12:46 PM | REPLY | FL: I guess it has not occurred to you that anyone with an IRA, 401k, mutual funds, individual stocks, or a pension plan, etc., are also benefitting. I can only surmise from your post that you are not retired, and are in no way invested in the market.

#16 | Posted by MSgt at 2019-04-19 04:27 PM | Reply

Yap, #6.

Being retired or having a 401k means you should be happy your friends, relatives, neighbors, and even you are getting your eyeballs ------ out by drug manufacturers.

Who knew???

#17 | Posted by MrSilenceDogood at 2019-04-19 05:02 PM | Reply

#16 until the predictable market tumble.

By which point the corporate fatcats will have checked out, ready to live off the millions they made as "bonuses", while the retirement funds you seem to think are benefiting equally become worthless for the people to did the most to earn the money they didn't get.

#18 | Posted by jpw at 2019-04-19 05:36 PM | Reply | Newsworthy 1

There is another aspect of drug companies paying out a good dividend as it attracts more investors and the company uses its stock sales for expansion, R&D, etc.

#19 | Posted by MSgt at 2019-04-19 06:05 PM | Reply

There is another aspect of drug companies paying out a good dividend as it attracts more investors and the company uses its stock sales for expansion, R&D, etc.

#19 | Posted by MSgt at 2019-04-19 06:05 PM | Reply

When was the last time a drug company issued new stock? Otherwise, the stock sales don't go to the company. The value of the stock might be used to get lower rates on borrowing, but they most definitely don't add dollars to the company.

Also, as pointed out in #5, the R&D funding is in large part public funding. Drug companies spend more on marketing than they do on research. Here's one article on the topic. It's old, but the fundamental finding remains true, if not worse today. I can't watch a single show on TV today without seeing dozens of ads for medications. Here's a study in JAMA showing that, in fact, spending on marketing has grown dramatically.

I think we should go back to the times when they weren't allowed to directly advertise medications to the consumer, and should also limit marketing to doctors as well. It has only been a boon to drug company profits and not the health of the country.

#20 | Posted by StatsPlease at 2019-04-20 09:55 AM | Reply

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