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by aaavl2821
2437 days ago
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It is not true that the vast majority of early stage research is funded by the government. The NIH spends $30-35B a year on research, the top ~15 pharma companies spend $70B+, and about half of that is on early stage R&D. VCs invest $10-20B / year and most of that is early stage as well So implementing a publicly funded drug r&d industry would be vastly more complicated than "increased funding" High drug prices are a major issue (arguably though, they are less of an issue than high hospital / physician costs bc these make up 50% of healthcare spend compared to 10-20% for drugs), but it is disappointing that people are so unaware of the basics of how the industry works |
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