Amarin Corp Plc (AMRN)

[raistthemage]

If you don't see that keeping drugs off the market for years while the FDA makes them jump through billions of dollars in bureaucratic hoops drives up the cost of medicine... I don't have the patience to explain it to you.

If something didn't exist before the progessive era then its almost certainly unconstitutional, but to elaborate the idea that the government can keep products off the market in the name of protecting people from themselves and "evil" businessmen is unconstitutional (9th and 10th amendment, also outside the government's ennumerated powers and relies on the New Deal's mutilated reinterpratation of the commerce clause), socialistic and pozzed.

As for corruption bureaucracies naturally try to grow their power, budget and juristiction (per Jerry Pournelle's Iron Law of bureaucracy), but most bureaucracies people can sort of evaluate what they are doing and how well so they are subject to some degree of outside scrutiny. The FDA given that it is a supposedly scientific bureaucracy evaluating obscure points of data is naturally far more opaque then other bureaucracies and also there is a lot of money at stake. Fertile ground for corruption.

If the FDA was honest and good... would not be hard on a drug with no real side effects and huge proven benefits. It would not have delayed its PDUFA it would in fact rubber stamped the biggest label possible as soon as the application was in place.