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Scientists are not profit motivated. Scientists don't work to produce more drugs faster just because the CEO is managing better. This is definitely something th
by x5n1 10y ago
Scientists are not profit motivated. Scientists don't work to produce more drugs faster just because the CEO is managing better. This is definitely something that can be funded by the public and should be funded completely by the public on a not-for-profit basis. Then we can no longer make these sort of ridiculous economic arguments.
- gaius 10y agoDo they hand out sainthoods with PhDs now? A scientist working in the commercial sector has the same motivations as anyone else.
- x5n1 10y agoThen why not make any scientist who discovers any very important drug or therapy into a billionaire. If they are motivated the same way corporations are, then that should super motivate them produce more drugs faster. In fact why don't universities work the same way?
- gaius 10y agoScientists at pharma companies who make breakthrough discoveries are well rewarded in stock and bonuses.
- Houshalter 10y agoScientists may or may not be profit motivated. But you can sure afford a lot more scientists to work on a problem, and give them much nicer labs, and pay for expensive animal and human trials, insurance, etc.
- refurb 10y agoScientists are not profit motivated. You haven't met the scientists I've met then. When you're working at a start-up and have options for a few hundred basis point of equity, you can be dam sure they are profit motivated.
- x5n1 10y agoWhich drugs are produced by startups? As far as I know most drugs are produced by massive incumbents. The cost and the regulation is too much to do anything else. And as far as I know those incumbents are not turning their researchers that research those drugs into millionaires or billionaires.
- URSpider94 10y agoI would wager that most drugs are discovered by startups. Pharma has a very well established "farm team" system where venture-backed companies do the compound discovery and complete Phase I and perhaps Phase II trials, then get bought by one of the major players, for exactly the reason you mention -- nobody wants to rebuild the infrastructure to manufacture and sell pharmaceuticals. However, the founders of those startups are rewarded handsomely for their effort, assuming they are successful.
- refurb 10y agoYou don't have to bring a drug to market to make money on your equity. Acquisitions are the main route by which big pharma acquires a drug.