Last month, the Biden administration announced it would allow Medicare to negotiate drug prices, prompting right-wing hysteria about price controls. Yet Biden's plans don’t go far enough: the state should fund R&D to further cut costs.
Medical research mostly happens at universities and independent research centers, not pharmaceutical companies. Pharmaceutical companies focus almost entirely on commercialization of existing research. If drug development is a race, they just carry it the last few meters over the finish line.
Then they take all the credit and charge you for the privilege.
Medical research mostly happens at universities and independent research centers, not pharmaceutical companies. Pharmaceutical companies focus almost entirely on commercialization of existing research. If drug development is a race, they just carry it the last few meters over the finish line.
Then they take all the credit and charge you for the privilege.