Opinion: Why the U.S. needs a public benefit biopharma industry
The biopharma industry is failing Americans, economically and medically.
U.S. biotechnology and pharmaceutical companies, like all for-profit corporations, have a primary duty baked into their corporate charters: maximize profits and shareholder value. Unlike companies in other industries, however, biopharma companies have a special advantage: their products have market exclusivity upon Food and Drug Administration approval, which can be leveraged to maximize pricing for a specified period. During that time, they do not need to worry about competition on product pricing, quality, or supply capacity in order to maximize profits.
Read Original Article: Opinion: Why the U.S. needs a public benefit biopharma industry »
