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by kongolongo
1476 days ago
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I think this is only a half-truth. There certainly are examples of academic research being translated into lucrative products by industry (there are even prominent examples in software/systems engineering) but I think that many times the translation of academic research into a useable product is also a massive endeavor that deserves recognition in its own right. I see this scenario described in medical research all the time with people saying that industry just leeches off of academic research and what people leave out conveniently is the vast amounts of money and research that goes into translating research into a real drug (billions spent on clinical trials to meet regulation, millions to billions spent on scaling manufacturing and synthesis of the drug to industrial volumes, drug delivery like pill design or injection methods) Additionally many industries also do have well-paid research positions that "move the needle" on science and basic research. While they're more targeted at producing and supporting products instead of full liberty to exploring just for the sake of knowledge, it's not like there is a complete black and white poorly compensated academic research vs industry. |
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Then the competition can come in, i.e. whoever can produce pure preparations of those drugs at the lowest cost will win the most market share. This means investing in top-of-the line manufacturing platforms (much of this is now outsourced to India, Mexico, etc. for drugs being sold in the USA) instead of squatting on the patents, blocking competition, and using monopoly status to jack up prices.
Yes, this would greatly reduce the profit margins and perhaps the stock prices of Big Pharma outfits, but the overall benefits would greatly outweight this. As a practical example, look how the best Covid vaccines (mRNA types) have been monopolized, leading to low rates of vaccination in Africa etc., even though that was technology developed with taxpayer funding at public universities.