Pharma Fumes and Socialism


This, from Clifton Leaf in Fortune, is one reason I find socialized medicine schemes (including, broadly, ObamaCare) so disturbing:

What the chart above shows is simply the percentage of 2017 revenue that derived from products launched in the previous five years. In other words, how much of each company’s sales are coming from drugs fresh out of the pipeline versus how much are coming from older meds?

In that regard, the picture above is worth a thousand words: Nearly all of Big Pharma is riding on fumes, it seems.

Now, a number of open questions make this analysis insufficient.  Historically, for example, what has been the revenue mix?

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But those questions aside, the reality is that profit motives spur risk and innovation.  A balance must still be struck, but the class envy and central planning of socialism inevitably force a society to coast on fumes.