[pcrh]

In the UK at least, independent research at pharmaceutical companies or Contract Research Organizations typically costs 1.5- to 2-fold what it costs at a University. Mostly because they pay higher wages than PhD students get, but also because they have heavier overheads. They're also typically less nimble as their research programmes are larger with more layers of management.

[chillydawg]

Uni research is probably minimally taxed, too.

[matt4077]

How, exactly, is commercial research taxed? Only profits are taxed, and research is all expenses, and can be deducted from profits for tax purposes in the year they occur.

[PoachedSausage]

In the UK a commercial profit making company, even if it is doing research would still be subject to a form of local property tax called business rates[0]. Whereas a university would likely get relief from such taxes.

[0] https://en.wikipedia.org/wiki/Business_rates_in_England