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Posted On: 08/08/2022 10:25:18 PM
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In fact, the largest drug companies are only one-fifth as efficient as the overall industry in R&D. The big companies spend $5 billion per newly developed homegrown drug; the industry average is closer to $1 billion.
It’s not surprising that big drug companies are less innovative than their smaller brethren. Because small biotechs can offer their scientists stock options, the brightest and most creative drug developers prefer to work at start-ups, where, if successful, they can retire early.
Perversely, the Medicare program handsomely rewards large, low-innovation companies to the tune of hundreds of billions of dollars. That’s not how free markets are supposed to work.
https://www.washingtonpost.com/opinions/2022/...ng-reform/
It’s not surprising that big drug companies are less innovative than their smaller brethren. Because small biotechs can offer their scientists stock options, the brightest and most creative drug developers prefer to work at start-ups, where, if successful, they can retire early.
Perversely, the Medicare program handsomely rewards large, low-innovation companies to the tune of hundreds of billions of dollars. That’s not how free markets are supposed to work.
https://www.washingtonpost.com/opinions/2022/...ng-reform/
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