MONTREAL, Sept. 28, 2011 /CNW Telbec/ - The large sums invested in the
promotion and advertising of pharmaceutical drugs do not come at the
expense of R&D and patients' health. The Viewpoint published today by the Montreal Economic Institute (MEI) highlights the
positive correlation that exists between the pharmaceutical industry's
promotional activities and its spending on R&D.
It takes over 10 years of research and 1.2 billion dollars on average to
develop a new drug. Of all the drugs put on the market, only 20% of
them are usually profitable. Consequently, it is important to promote
the most promising drugs, those backed by the most persuasive
scientific evidence and most likely to provide a return on R&D
Moreover, the information spread through the advertising of
pharmaceutical products can also benefit patients themselves. Indeed,
such advertising tends to increase the number of people diagnosed with
certain health problems (like depression, high cholesterol and
arthrosis) who take medication.
"We have to stop thinking about the money invested by pharmaceutical
companies in the promotion of their products as an extravagant expense.
The promotion of drugs is one source of information among others
available to doctors, who use their good judgment to determine the most
appropriate treatment for their patients," says Yanick Labrie, the
The Viewpoint on the pharmaceutical industry's promotional spending, prepared by Yanick Labrie, economist at the MEI, can be consulted free
of charge at www.iedm.org.
The Montreal Economic Institute is an independent, non-partisan,
not-for-profit research and educational organization. Through its
publications, media appearances and conferences, the MEI stimulates debate on public policies in Quebec and across Canada by proposing
wealth-creating reforms based on market mechanisms. It does not accept
any government funding.
SOURCE MONTREAL ECONOMIC INSTITUTE
For further information:
Ariane Gauthier, communications coordinator, Montreal Economic Institute
Tel.: 514 273-0969 ext. 2231 / Cell: 514 603-8746 / Email: firstname.lastname@example.org