This sucks.
Ah well; if i can stay awake and stop shivering, i just bought a new TV a couple weeks ago which i should enjoy.
Ah well; if i can stay awake and stop shivering, i just bought a new TV a couple weeks ago which i should enjoy.
Yeah the company must be loving this swine flu scare. Raking in the cash.
Don't you guys have insurance? Plus you can probably deduct it on your taxes.
I don't know if there is a good source of that information. But, we can guess. Gilead Sciences had a $86M IPO warchest in 1992. Four years later, Tamiflu was patented along with several other products. Lets just guess on the large side that Tamiflu development required half of thier money. So, $43M to get it patented. At that point Roche bought the rights. I don't know what Roche paid for FDA approval for that drug. But I have dealt with Roche for other products and Roche told me that they typically pay $7M to $10M for each approval. Probably since Tamiflu is a big drug, they paid more for more research. Until someone links real information, I'll just guess $20M. Note: the federal goverment picks up about half of the expenses, so lets add on another $20M. That gives us $43M + $20M + $20M = $83M as a very rough guess. If anyone has concrete numbers, I'll gladly update.How many hundreds of millions of dollars in R&D before they got a marketable drug?
I was about to post the same thing. You must be able to itemize, you must have massive expenses that aren't covered by insurance, and the insurance premiums aren't usually deductable in this category.You can only deduct medical expenses that qualify AND exceed 7.5% of your adjusted Gross income, and you must file form 1040...so good luck with that.
Don't you guys have insurance? Plus you can probably deduct it on your taxes.
I don't know if there is a good source of that information. But, we can guess. Gilead Sciences had a $86M IPO warchest in 1992. Four years later, Tamiflu was patented along with several other products. Lets just guess on the large side that Tamiflu development required half of thier money. So, $43M to get it patented. At that point Roche bought the rights. I don't know what Roche paid for FDA approval for that drug. But I have dealt with Roche for other products and Roche told me that they typically pay $7M to $10M for each approval. Probably since Tamiflu is a big drug, they paid more for more research. Until someone links real information, I'll just guess $20M. Note: the federal goverment picks up about half of the expenses, so lets add on another $20M. That gives us $43M + $20M + $20M = $83M as a very rough guess. If anyone has concrete numbers, I'll gladly update.
Now, there may have been other expenses. The goverment may have given Gilead grant money to help develop it. The government was also planning to spend $1B to stockpile it (does anyone here know how much was actually spent?). Not coincidently, a nameless goverment employee at the time received tens of millions of dollars in his stock share increase from this announcement. I think the "Tamiflu was expensive to develop" argument is a bit overused. They already got a ~15x return on the non-government expenses.
My bias in case you are wondering: I develop medical tests for a living and my wife works at a well-known pharmaceutical company.
I was about to post the same thing. You must be able to itemize, you must have massive expenses that aren't covered by insurance, and the insurance premiums aren't usually deductable in this category.
Roche generally doesn't do much R&D. They buy companies that have already done the R&D. Roche also spends billions on ads to promote their products. So, Roche spends billions, but NOT on research.How many billions in R&D did Roche and Gilead spend on other drugs that never made to market?
you can only deduct medical expenses that qualify and exceed 7.5% of your adjusted gross income, and you must file form 1040...so good luck with that.