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Bioterrorism, Pharmaceuticals, and Public Policy
Posted by Steven Wu on Tuesday, February 04 @ 16:06:03 EST Governance
The Economist has an interesting article about the relationship between the pharmaceuticals industry and the war against bioterrorism, and how the government can facilitate this relationship. The central problem:
"Although basic research is often best done by the government and non-profit bodies, development and production of drugs are usually better managed by the private sector. Yet it is striking that, despite the American government's promises of large chunks of money, the big drug firms are distinctly reluctant to get involved. Contrast that with the defence industry."
Why are they so reluctant?
"Apart from the paranoid wealthy . . . few people will fork out for a supply of pharmaceutical insurance. If there is to be a viable market, governments will be the main buyers. This has its own problems, as firms do not like to be dependent on a single big customer with notoriously fickle demands. Clearly, a government-only approach would be highly unlikely to deliver--as any cursory examination of government-only innovation and production elsewhere shows."
The article then proposes a plan for public-private cooperation in the manufacture of drugs. Read it for the details.
 
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