U.S. taxpayers are largely unaware of how their tax dollars subsidize investment into new and innovative medicines.
found that NIH funding contributed to nearly all of FDA-approved drugs from 2010 to 2019, and the magnitude of NIH investment in new drugs is comparable with that of the industry. These findings clearly suggest that the public deserves a more equitable return on its investment relative to the pharmaceutical industry’s investment.
We Americans are told repeatedly that we have a predominantly private health care system. Official national health expenditure reports suggest theof total expenditures. But if you add up all hidden public subsidies to the private sector, the government funds at least 60% of total national health expenditures, and this is almost certainly an underestimate.
But, second, and much more surprising, the federal government consistently fails to advertise the important role it plays in subsidizing the U.S. health care system, includingInstead, when the industry claims that price negotiations will result in fewer cures, the retort is focused on the importance and extent of the reduction in new drugs.
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