U.S. private sector outlays for research and development into new drugs is plummeting—is anyone surprised? So the Obama White House announces plans to fund a U.S. federal government enterprise to develop new drugs. The Obama White House’s analysis on which this move is based assumes a misappropriation of resources among U.S. drug-makers, when the reality is not only more complex than the alleged greed of an industry, but also flatly contradicts the the premises of ObamaCare itself.
Caption: Desolation is the new black. (Image credit: Zacodin.)
[...] The Obama administration has become so concerned about the slowing pace of new drugs coming out of the pharmaceutical industry that officials have decided to start a billion-dollar government drug development centre to help create medicines, writes Gardiner Harris of the New York Times by way of the Denver Post, in a story titled Federal agency to spearhead new drug-development centre