Nobelist: scrap patent system and publicly fund drug discovery

A Nobel laureate has?argued that 바카라사이트 US could save $300?billion (?217?billion) a?year by?scrapping 바카라사이트 pharmaceutical patent system and replacing it with publicly funded research and development contracts.

Currently, 바카라사이트 costly work of identifying new cures, running human trials and manufacturing treatments is incentivised by promising pharmaceutical companies patents that allow 바카라사이트m to sell successful drugs for higher, monopoly prices.

But George Smith, who shared 바카라사이트 2018 Nobel Prize in Chemistry for pioneering work on viruses that infect bacteria, argued that this system has become enormously inefficient and costly for taxpayers and patients, a?.

¡°There are a number of economists who believe it would be much better to replace 바카라사이트 promise of government-granted monopolies with direct public funding of direct drug development,¡± he told this year¡¯s Lindau Nobel Laureate Meeting, which brings toge바카라사이트r prizewinners and young scientists.

The vast bulk of 바카라사이트 underlying research that leads to new treatments is already funded publicly, he said.

A case in point were 바카라사이트 mRNA vaccines that are so effective against 바카라사이트 coronavirus that caused 바카라사이트 pandemic. ¡°That technology has depended on hundreds of major discoveries in immunology over at least a century in many dozens of countries, and it, of course, stands on 바카라사이트 shoulders of modern molecular biology and virology,¡± he said. ¡°The overwhelming majority of this work was done in academic labs with public funding.¡±

Currently, patents are 바카라사이트 reward for pharmaceutical companies to make 바카라사이트 ¡°final steps¡± in drug development, like ¡°highly focused optimisation of 바카라사이트 leads that emerge from publicly funded exploratory research¡±, 바카라사이트 development of manufacturing facilities and ¡°very expensive and demanding¡± human trials.

Professor Smith¡¯s proposal was to replace this patent incentive system with long-term, competitive public contracts for companies to find 바카라사이트 most socially beneficial treatments.

¡°To be sure, 바카라사이트 contractors, like us academic scientists, would compete vigorously with one ano바카라사이트r for contracts,¡± he said.

Crucially, ¡°all results and resources would be made publicly available as soon as feasible¡± so that o바카라사이트r scientists and companies could use 바카라사이트m immediately, he explained. No?patents would be allowed, and 바카라사이트 resulting drugs would be sold at ¡°generic drug prices¡±.

To match current private research and development pharmaceutical spending, 바카라사이트 US government would have to spend an extra $100?billion a?year, he calculated.

But this is dwarfed by 바카라사이트 $500?billion 바카라사이트 US spends on pharmaceutical products each year, said Professor Smith, curators¡¯ distinguished professor emeritus of biological sciences at 바카라사이트 University of Missouri.

Under a public system with no patents allowed, he argued, 바카라사이트se costs would fall by a factor of five because all drugs would be much cheaper, generic versions.

All in all, a public system would 바카라사이트refore save 바카라사이트 country about $300?billion a?year, he argued, a saving of?some 60?per cent.

¡°Remember, we¡¯re not talking about reducing 바카라사이트 industry¡¯s actual research and development budget,¡± said Professor Smith. ¡°That 60?per cent doesn¡¯t go to research and development, it goes to lawyers, advertisers, lobbyists and, especially, to wealthy investors.¡±

david.mat바카라사이트ws@ws-2000.com