Business Insight presented by Arlington Dermatology Are we well aware of how it works? I hate to say it, but information is a very difficult topic these days. Obviously, most of us do get news and some other information, but the sources of it may highly differ. And thus, what we learn may be different too. Further, there are plenty of news and information outlets that spread false information with full premeditation and knowledge that it is false. And finally, people may change their mind by claiming their information and sources depending on who they received it from. This way, 2 years ago, they may claim that changes in climate and warming do not exist and now, they say otherwise, but point to a different source misleading them. Tough game. What I want to talk about is the objective truth about medications. We all know that it is too expensive. Brand names medicines can cost thousands of dollars and majority of us cannot pay for them. If our insurance companies deny the approval, we are forced to switch to a different medicine unless we can put several hundred dollars on the counter. Generic medicine is the answer in many cases. Developed faster through the process of approval, it is much more affordable and usually does the job as well as the brand. Developers of generic drugs must prove no inferiority to the brand by conducting studies comparing the two. The process can be much quicker and efficient. The new generic medicine is also much less costly. So, where is the problem? First, brand companies have their allowances with patents that do not allow generics for several years. That duration is often different for various drugs. Secondly, huge majority of generic drug companies are outside of the US. They would not function well in the US due to operational costs. Nobody would work for $3.00/hr or less. And generic drugs can cost less than $10.00 for daily supply for a month. Just do the math. With possible tariffs coming to the pharmaceutical business, we will be punished to spend more on generics just because our American corporations do not want and cannot afford to produce generic drugs! How much sense does that make? Pharmaceutical business is global. You can judge whichever way you wish, but scientists and medical developers work together, and they do not see the borders. This is not new. It has been the same for many, many years. Look at the lists of Noble Prize winners: they often publish together, from two or three different places on earth. Pfizer of Eli Lilly may have large headquarters in the US, but their offices and manufacturers are all over the world. Putting their brains together works well for scientists and for us; we all benefit from having various perspectives and joined efforts always give us better outcomes. Locking the ideas and limiting them to the US internally would hurt us all. And we all need better medicines for an ever- changing world of diseases. Majority of the new inventions come from the National Institute of Health, located in suburban Washington DC, who is the largest research organization in the world. But being a government agency, with constantly limited funds, NIH does not have money to conduct the studies. So, they 'hire' private pharmaceutical companies, negotiating with them on how the potential drugs would be developed. Sometimes, these companies may take the initial discovery and continue working on it outside of the US, only to bring it back and conduct the studies in 20-some countries. This means globality. No matter whether you like it or not. This is how it works, and this is how we benefit from it. Michael Bukhalo, MD Arlington Dermatology 5301 Keystone Court Rolling Meadows, IL 60008 Tel. 847 392 5440 | www.arlingtondermatology.net Business Insight presented by Arlington Dermatology Are we well aware of how it works ? I hate to say it , but information is a very difficult topic these days . Obviously , most of us do get news and some other information , but the sources of it may highly differ . And thus , what we learn may be different too . Further , there are plenty of news and information outlets that spread false information with full premeditation and knowledge that it is false . And finally , people may change their mind by claiming their information and sources depending on who they received it from . This way , 2 years ago , they may claim that changes in climate and warming do not exist and now , they say otherwise , but point to a different source misleading them . Tough game . What I want to talk about is the objective truth about medications . We all know that it is too expensive . Brand names medicines can cost thousands of dollars and majority of us cannot pay for them . If our insurance companies deny the approval , we are forced to switch to a different medicine unless we can put several hundred dollars on the counter . Generic medicine is the answer in many cases . Developed faster through the process of approval , it is much more affordable and usually does the job as well as the brand . Developers of generic drugs must prove no inferiority to the brand by conducting studies comparing the two . The process can be much quicker and efficient . The new generic medicine is also much less costly . So , where is the problem ? First , brand companies have their allowances with patents that do not allow generics for several years . That duration is often different for various drugs . Secondly , huge majority of generic drug companies are outside of the US . They would not function well in the US due to operational costs . Nobody would work for $ 3.00 / hr or less . And generic drugs can cost less than $ 10.00 for daily supply for a month . Just do the math . With possible tariffs coming to the pharmaceutical business , we will be punished to spend more on generics just because our American corporations do not want and cannot afford to produce generic drugs ! How much sense does that make ? Pharmaceutical business is global . You can judge whichever way you wish , but scientists and medical developers work together , and they do not see the borders . This is not new . It has been the same for many , many years . Look at the lists of Noble Prize winners : they often publish together , from two or three different places on earth . Pfizer of Eli Lilly may have large headquarters in the US , but their offices and manufacturers are all over the world . Putting their brains together works well for scientists and for us ; we all benefit from having various perspectives and joined efforts always give us better outcomes . Locking the ideas and limiting them to the US internally would hurt us all . And we all need better medicines for an ever- changing world of diseases . Majority of the new inventions come from the National Institute of Health , located in suburban Washington DC , who is the largest research organization in the world . But being a government agency , with constantly limited funds , NIH does not have money to conduct the studies . So , they ' hire ' private pharmaceutical companies , negotiating with them on how the potential drugs would be developed . Sometimes , these companies may take the initial discovery and continue working on it outside of the US , only to bring it back and conduct the studies in 20 - some countries . This means globality . No matter whether you like it or not . This is how it works , and this is how we benefit from it . Michael Bukhalo , MD Arlington Dermatology 5301 Keystone Court Rolling Meadows , IL 60008 Tel . 847 392 5440 | www.arlingtondermatology.net