Final answer:
New drugs may still find a market due to factors like cost, resistance to current drugs, side effects, patient non-response rates, and the need for personalized medicine. The FDA approval process ensures that new drugs are safe and effective, while ethical questions surround pharmaceutical company motivations.
Step-by-step explanation:
There are multiple reasons why there might still be a market for a new drug even if there is an approved drug for a particular indication. Some considerations include cost-effectiveness, resistance development, and patient response to treatment.
If the currently marketed drug is very expensive, there is an opportunity for a more cost-effective alternative to emerge. In cases where cancer has become resistant to a currently administered drug, new medications must be developed to combat this resistance.
Furthermore, adverse effects such as nausea can significantly impact a patient's quality of life, thus a new cancer drug that does not cause nausea would likely be preferred over one that does. The statement that a new drug will be preferred simply because it requires less frequent dosing (once a day versus once a week) isn't necessarily a good reason on its own, as some patients might prefer less frequent dosing due to convenience or adherence reasons.
Despite the availability of treatments, the need for new drugs remains because over 50% of patients with a condition may not respond to an existing drug, highlighting the importance of personalized medicine and the continued need for innovation in drug development.
The process of receiving FDA approval for new therapies also factors in, as safety and efficacy are paramount. The FDA's rigorous approval process ensures that any new drug meets high standards before entering the market.
Moreover, the ethical implication of pharmaceutical companies prioritizing profit over public benefit raises questions about the role of government subsidies and regulation in encouraging the development of high-utility drugs.