23. The1992dramafilm Lorenzo’sOil isbasedonthetruestoryofLorenzoOdone, who was d

Question

23. The1992dramafilmLorenzo’sOilisbasedonthetruestoryofLorenzoOdone, who was diagnosed with a hereditary orphan disease called adrenoleukodystrophy (ALD). His diagnosis induced his parents to research the disease intensively, interview scientists who had studied the disease, and convince a small pharmaceutical manufacturer in England to make a few doses of an experimental drug. Explain why there are so many more drugs available to treat acne than the typical orphan disease, and discuss any government efforts that benefit people afflicted by rare diseases.

(a) Compare the tradeoff implicit in allowing the FDA to regulate pharmaceutical markets with the tradeoff implicit in allowing the AMA to restrict the supply of doctors in the U.S.

Explanation / Answer

Acne is very common which means that requirement of drugs is high in numbers but ALD is not common so rarely somebody will need drugs. Now because of low demand, companies will have low supply and minimal total profit so they will not try to invest timr and money for rare diseases.

Government help by providing grants for reserch so that companies may atleast be financially motivated to research diseases cure. They should also provide subsidies in doing research for rare disease.

The tradeoff with regulation of Pharmaceuticals is basically between price of medicine and desire of innovation while the trade-off in allowing the AMA to restrict the supply of doctors in the U.S is between more number of doctors and better quality of doctors.

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