RE: Noteworthy News
March 22, 2022 at 10:29 am
(This post was last modified: March 22, 2022 at 10:36 am by The Grand Nudger.)
It's a good overview. That every us pharma company.... combined..after having purchased rights to the basic research, still only manage to account for 53% of research funding in the most consequential sectors. Alot of which is spent on things important to a for profit entity (by necessity).
We don't have to propose malfeasance to explain why that pool of private, explicitly for profit, research fails. That's just the icing on the top of the cake that made it more profitable. They would (and do) make obscene profits on their r&d dollars even at a vastly reduced rate. If we think that getting medical research done at a price point society can bear is important (and from the discussion section there it looks like we do) then we're either going to have to strictly regulate the medical industry, or spend directly on more publicly funded research that is then deemed to be public domain. There are something like 500 generic manufacturers in the us that would stand to benefit immensely, in addition to the gains in public health.
We don't have to propose malfeasance to explain why that pool of private, explicitly for profit, research fails. That's just the icing on the top of the cake that made it more profitable. They would (and do) make obscene profits on their r&d dollars even at a vastly reduced rate. If we think that getting medical research done at a price point society can bear is important (and from the discussion section there it looks like we do) then we're either going to have to strictly regulate the medical industry, or spend directly on more publicly funded research that is then deemed to be public domain. There are something like 500 generic manufacturers in the us that would stand to benefit immensely, in addition to the gains in public health.
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