18% of revenues are spent on R&D, but only 1 in 5000 new compounds becomes an approved drug?
Then, mix in Leftside political acrimony with the propensity of foreign countries to steal drug patents for “humanitarian” reasons, and investors of the future may have no choice but to pull their risk capital off the table.
Besides limiting legal liability for drugs that harm some patients, there seems to be no clear solution to the problem.
The issue of NIH research is utterly bogus.
If taxpayer funding for medical R&D ended tomorrow, American citizens would open their wallets and fund every university research program right back to maximum.
Why?
Because all of us want our families to live long and healthy lives.
Wrong. I would fight that. Universities are full of cash. Most of them have enough money in their trust funds to allow students to go free for the next ten decades.
I like the FDA standards
http://www.nyu.edu/classes/jaeger/thalidomide.htm
The problem is not humanitarian aid to third world countries. Its the inadvertant aid to first world Europe and Canada whose systems of socialized medicine negotiate low costs with our drug companies.