3 ms·
The NIH currently spends $33B a year on research. Not all of that is drug related The top ~15 pharma companies spend over $70B a year on r&d, and VC funds $15B
by aaavl2821 9y ago
The NIH currently spends $33B a year on research. Not all of that is drug related
The top ~15 pharma companies spend over $70B a year on r&d, and VC funds $15B in the US alone
Even assuming government operates as efficiently as private industry, we are talking almost triple the NIH budget to accomplish that
- CogitoCogito 9y ago> Even assuming government operates as efficiently as private industry, we are talking almost triple the NIH budget to accomplish that So increase the budget? If we assume the government would operate as efficiently as private industry, then it would be cheaper overall. The other option is for private industry to recoup the costs plus profits from society at large. Obviously increasing the budget is politically difficult, but let's not pretend the current method makes any real economic sense.
- aaavl2821 9y agoThe NIH budget has declined 20% in the last 15 years. Not only is there a strong downward trend, but the movements in funding levels are gradual. I'd say that tripling the NIH budget is not just politically difficult, but politically impossible
- CogitoCogito 9y agoThen just leave the drugs grandfathered. If we view something as a problem (i.e. the lack of formal drug approval processes on old drugs), but we are not willing to solve the problem right (i.e. providing funding to government agencies to do the research), then we shouldn't do anything at all. Continuing the status quo is also a reasonable action.