Free Republic

After almost five months of a nationally-declared state of emergency for COVID-19, Americans everywhere are hopeful for better treatment and even a vaccine for the disease. Doctors and scientists in America and around the world are racing for the treatments that can put an end to this unique disease, but that will take time and money. In particular, pharmaceutical companies often spend considerable funds over an extended period of time to find a new cure. Profits from the latest cures are often reinvested on the next round of research and development leading to future drugs that will save lives. Sadly,...

Venture capital investment in American life-sciences innovation is suffering an alarming decline. The number of new biotechnology and medical device companies receiving start-up financing has now fallen to the lowest levels in 18 years, according to PriceWaterhouseCoopers. In recent decades, the cost of developing a single new medicine has grown more than 10-fold, to $1.5 billion. On average, each new drug spends 15 years in development. And only two in 10 successfully commercialized medicines ever earn a return on investment. Start-ups have played a vital role in the development of an entire generation of cutting-edge new therapies that have revolutionized...

SNIPPET: "One of the many new taxes imposed by ObamaCare is a 2.3% excise tax on medical device manufacturers. Although this may not seem like much, it could be devastating to small companies working with thin profit margins. For instance, the Zoll Medical Corporation is one of the leading manufacturers of automated external defibrillators (AEDs). These devices are commonplace in airports, shopping malls, and other public places. They are meant to be used by members of the general public to give immediate life-saving electrical shocks to someone suffering sudden cardiac arrest. Advances in hardware and software have made these devices...