[Ip-health] Alan Sager: It's Time to Confront the Drug Makers
pmaybarduk at citizen.org
Tue Aug 9 08:24:36 PDT 2016
In "Democracy: A Journal of Ideas"
"One mechanism for doing this would be for government to finance innovation by abolishing, or limiting, patents and, instead, awarding prizes in fair proportion to new drugs' value. (A $100 billion prize for a safe and effective drug for Alzheimer's would be conservative. The prize would be modulated over time as evidence grows on a new med's efficacy, safety, and the averted costs of other treatments.) In return for the prize, a public body would license the innovation for production and sale at low prices-adequate to cover costs of manufacturing and distribution. The prize mechanism has been advocated by Sen. Sanders, who has reintroduced the Medical Innovation Prize Fund Act on several occasions, as well as economist Joseph Stiglitz."
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