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Pfizer says it will price Covid treatment Paxlovid at nearly $1,400 for a five-day course, which researchers estimate only costs Pfizer $13 to produce.
That's a 10,000%+ markup. Shameful.
In the bio industries R&D has almost exclusively become just the D. We like to think that there are a bunch of scientists doing lifelong, painstaking research to develop new drugs or treatments within the labs at Pfizer, Merk, Lilly, or whatever, but a significant portion of the research is done at small independent or school funded labs.
Once one of those small labs creates a decent treatment that will likely pass government testing, a large corp will buy it and say “We just made this brand new thing!”. Really though, their R&D budget is spent on acquisition, production, supply chain development, and marketing.
Working in R&D in a few different positions in my career and this is absolutely the case. Hell some of them you could equate to white label SaaS products. Using research from universities putting it in a neat package and selling it.
The corporate bio industry is so fucked up I can’t even begin to describe it. I tell my friends and family stories, but I sound like an insane person to them. The scale at which money is thrown around is just too large for most people to imagine.
Like this: imagine a worker that makes less than $35k per year processes, and is soley responsible for $20M in products, per month. Product that people all around the world not only use, but ingest. Now imagine that that one worker is the only one in the world who knows how that product is processed. That’s how bio manufacturers work.
Thank you for finding the numbers
In the bio industries R&D has almost exclusively become just the D. We like to think that there are a bunch of scientists doing lifelong, painstaking research to develop new drugs or treatments within the labs at Pfizer, Merk, Lilly, or whatever, but a significant portion of the research is done at small independent or school funded labs.
Once one of those small labs creates a decent treatment that will likely pass government testing, a large corp will buy it and say “We just made this brand new thing!”. Really though, their R&D budget is spent on acquisition, production, supply chain development, and marketing.
Working in R&D in a few different positions in my career and this is absolutely the case. Hell some of them you could equate to white label SaaS products. Using research from universities putting it in a neat package and selling it.
The corporate bio industry is so fucked up I can’t even begin to describe it. I tell my friends and family stories, but I sound like an insane person to them. The scale at which money is thrown around is just too large for most people to imagine.
Like this: imagine a worker that makes less than $35k per year processes, and is soley responsible for $20M in products, per month. Product that people all around the world not only use, but ingest. Now imagine that that one worker is the only one in the world who knows how that product is processed. That’s how bio manufacturers work.