â€œPharmaceutical companies must worry less about squeezing additional profits from old medicines by copying the last successful drug and insisting on additional patent protections and focus more on new and innovative medicine.â€
Attention Senator McCain:
Americaâ€™s pharmaceutical and biotechnology research companies set a new record for biopharmaceutical research spending last year with an investment of $55.2 billion to develop new medicines and vaccines. That's $3.4 billion higher than the previous record of $51.8 billion spent by U.S. companies in 2005.
The research spending of all of Americaâ€™s biopharmaceutical companies is much higher than the amount spent on biomedical research by the National Institutes of Health and pharmaceutical research companies in other countries.
It may not be popular or politically expedient to admit the truth. But we expect better from Senator McCain.