Capitalism Is KILLING Pharmaceutical Research, Not Encouraging It
August 2, 2023
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10:16Now PlayingCapitalism Is KILLING Pharmaceutical Research, Not Encouraging It
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as posted by the channelThe Senate Committee on Health, Education, Labor, and Pensions took a significant step toward potentially reducing pharmaceutical drug prices for Americans. The committee approved an amendment to a bill reauthorizing the Pandemic and All-Hazards Preparedness Act, allocating $3 million for the National Academies of Sciences, Engineering, and Medicine (NASEM) to study different funding models for new drug development. NASEM will explore government funding and innovation prizes for inventors, with drugs created under these models potentially becoming public-domain generics. The current patent system allows pharmaceutical companies exclusive rights to sell drugs for 20 years, hindering competition and discouraging the development of cures. The proposed study could revolutionize drug incentives, leading to a more cost-effective and accessible healthcare system in the US.
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