[india-drug] Sen Sanders Medical Innovation Prize Fund Act of 2007 (1)

["O'Brien Bone & Joint Centre" <obrienbjc@gmail.com>]

Sen Sanders Medical Innovation Prize Fund Act of 2007 (1)
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Dear friends,
Please see this wonderfully innovative idea, which will end the stranglehold of high cost of new drugs, with very few being actually really making any quantum leap in treatment possibilities seen. sanders of the USA has a great idea which has been applauded by
Almost all commentators, with good rewards to drug companies, and innovators, but also reasonable prices to consumers, something which is very laudable, and a very innovative out of the box type of thinking

According to the US Food and Drug Administration, of the 1,284 new drug approvals from 1990 to 2004, only 289, or 22.5 percent, were for ''priority'' reviews (defined as a product that has ''significant improvement compared to marketed products in the treatment, diagnosis, or prevention of a disease''). Of these, only 183 (14.3 percent of the total) were new molecular entities classified as priority products.

This link to sen sanders website also has a brief paragraph highlighting the proposals. Please check it out http://www.sanders.senate.gov/news/record.cfm? Id=285739

Prescription Drugs Legislation was introduced by Sanders on Friday that would eliminate market exclusivity for new drugs, but give developers large cash rewards from a "Medical Innovation Prize Fund" when products improved health outcomes.  By eliminating monopolies and allowing generic competition, prices on drugs would fall dramatically, saving taxpayers, employers and consumers more than $200 billion per
year. Under the proposal, the current patent system would still be used, but patent owners would no longer be given monopoly rights to control the manufacturing and sale of products.  Instead, patents would be used to establish who "owns" the right to the cash rewards given for new inventions.  Drugs developed without patents would also
be eligible for the prizes. "As health-care costs continue to spiral, our nation must focus debate on why prescription drugs cost so much. Unfortunately, Congress has never delved into why the process that brings new drugs to market is so insanely expensive, inefficient, and ineffective. Senator Sanders' bill, 'The Medical Innovation Prize Act
of 2007,' could at long last begin that debate," said Bill Vaughan of Consumers Union.

with warm regards 
Rtn Dr NV Girish Kumar
MBBS Dortho FRCS(Ire) FRCS(Trauma & Ortho)
O'Brien Bone & Joint Clinic
Kumaran Building, Cowley Brown Rd, RS Puram
Coimbatore ? 641002 India
Mobile (91) 99430 68388
Clinic (91) 422 2550 449
Pediatric Ortho, Joint Replacement, Arthroscopy, Advanced Trauma Care
Surgeon
Secretary, Indian Medical Association, Coimbatore branch, 2007-8
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Member, Rotary club Coimbatore Midtown, RID 3200
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District Committee member, Polio Corrective Surgery, RID 3200, 2003-4
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District Chairman, Polio Corrective Surgery, RID 3200, 2005-6, 2007-8