Obama Administration Creates Billion Dollar Government-Run Drug Company
Posted by Jim Hoft on Sunday, January 23, 2011, 6:34 PM
The Obama Administration has created a billion dollar government-run drug company. The new enterprise will help create new medicines. They say it is not intended to be competitive with the private sector.
The San Francisco Chronicle reported, via FOX Nation:
The Obama administration has become so concerned about the slowing pace of new drugs coming out of the pharmaceutical industry that officials have decided to start a billion-dollar government drug development center to help create medicines.
The National Institutes of Health has traditionally focused on basic research. But the drug industry’s research productivity has been declining for 15 years, “and it certainly doesn’t show any signs of turning upward,” said Dr. Francis Collins, director of the institutes.
The job of the new center, to be called the National Center for Advancing Translational Sciences, is akin to that of a home seller who spruces up properties to attract buyers in a down market. In this case, the center will do as much research as it needs to do so that it can attract drug company investment.
“None of this is intended to be competitive with the private sector,” Collins said. “The hope would be that any project that reaches the point of commercial appeal would be moved out of the academic support line and into the private sector.”
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Vero commented:
I call Bull crap – where do they expect to get the researchers from? Outer Space? They will rob the drug companies of talent, therefore, the heck they aint “competitive with the private sector”
Joanne commented:
So who is going to want to be the first to try drugs the government has created?
donh commented:
Another billion a year in Tax money to fund AIDS research.
MrGoodWench commented:
National Center for Advancing Translational Sciences
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N – CATS
ar05075 commented:
Who else …….the military.
Redwine commented:
Very Orwellian, this drugs coming from the government.
Red pill, anyone?
Kenny Solomon commented:
Let’s see…… Bankrupt the coal industry, electricity rates will necessarily skyrocket, takeover of 2/3 of the US auto manufacturing base, cut off water to the single most fertile growing area in America…… The list grows exponentially.
Now, President Rocket Surgeon has a few Eugenics supporters in charge of a drug company……. Kathleen Sebelius and John Holdren.
What could go wrong ?
Any kind of drug this administration develops will more than likely be tested at those non-existent FEMA Camps with the civilian defense corps as observer.
RS commented:
Surely higher taxes, more regulations, and government micromanagement could help the drug industry produce more.
Let’s have the FDA increase the amount and complexity of testing required and then make it twice as hard to actually do the testing, then delay approval just to be sure… that should help.
And if this process generates the goodies, let’s allow, no, ENCOURAGE foriegn firms to copy the drugs – for global social justice of course.
Congress and the White House are filled with brilliant lawyers who know everything about everything… they can tell the companies what they need.
Boom times are assured.
bostinks 2 commented:
i see zombies in Americas near futures. lol
mlp commented:
Where in the U.S. Constitution does it say the government can create such a government-run drug company?
Redwine commented:
Actually, this is a rather frightening development. It’s one thing to mess around with inanimate objects, like cars. The horrors that can be inflicted on a captive population should be resisted at all levels. (Mengele, anyone? Maybe in the guise of Dr. Demento Berwick.)
Just how far will the nudging of Sunstein go? Will it bring us to the joyously anticipated violence of Van Jones and Fox-Piven? It is obvious that the leftist, statist Progressives WANT to go there – fast. Note their stepped up vile and violent rhetoric lately, while, at the same time, WE are asked to be civil. (Do remember that a REPUBLICAN judge was murdered in Tucson. Not much discussion about that.)
Welcome to the gulag – or the red pill.
MrGoodWench commented:
So lemme translate from crapola to English :
In this case, the center will do as much research as it needs to do so that it can attract drug company investment.
Translation :
The regime will decide for the drug companies what they can invest in.
Basically some czar @ his / her whim will order this center to write up a project to invent stuff, then pick out a drug company and ” nudge” it towards funding the project, however stupid it might be.
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“None of this is intended to be competitive with the private sector,” Collins said. “The hope would be that any project that reaches the point of commercial appeal would be moved out of the academic support line and into the private sector.”
Translation :
The government has unlimited supply of taxpayer money and no mandate for competance, efficiency and profit. Why should the drug companies be allowed to work efficiently , be competant and make a profit ?? They can’t pick and choose anymore. The government will do it FOR them
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And they tell me there is no such thing as a ” death panel” in the Sorocide law .
NeoKong commented:
How much of that money will end up in Obama’s campaign chest…?
He doesn’t do a damn thing unless there is a payout for him down the road.
Spider commented:
What could go wrong?
Swifty commented:
But, we’re supposed to believe from ObamaCare’s proponents that Obama is not taking control of the health care industry. lol
He’s wasted so much of our future’s money already. What could go wrong with this further spending?
This is just more proof he has no desire or ability within to actually help the private sector in creating new jobs. Remember this when he talks about his commitment to jobs in his State of the Union address. All words with no actions to support the words.
Taxpayer1234 commented:
If the Feds think they can develop drugs better than private industry, they have another thing coming.
Gee, I wonder whose drug candidates will be approved the quickest by the FDA? Hmmmm….
Valerie commented:
The FDA currently sees its mission as simple delay of all drugs until after introduction in Europe. A change in FDA policy would be cheap, and restore the private investment market.
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