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I have worked in the healthcare industry for the past decade. As someone who is intimately familiar with the structure and organization of today's pharmaceutical and biotechnology companies, I cannot see how we could expect future innovation if we capped profits. On average, it takes 10 years and upwards of a billion dollars to bring a new therapy to market and less than 10% of compounds entering the clinical development process make it through to approval. If it wasn't for the motivation to profit, would these companies even bother to do this work? I doubt it.
posted 3 years, 10 months ago
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