Easy QuestionPosted By Tom Rodstrom |
Here is a question about health care and the free market.
Lets suppose that your are the CEO of a large drug company responsible for maximizing the profits of your stock holders. You currently sell an AIDS drug that holds the disease in check for as long as a patient takes it. Lets say it costs the patient $12,000 a year (for life). Now, your research department comes up with a drug that cures AIDS completely. What do you do, release the drug or bury it (until someone else releases a cure)?
It's a no brainer. Under the profit motive you bury it.
Years ago, I read an article in Science News about a drug company researcher who found a promising path to a cure for AIDS. In the article, the writer said that it would not be pursued because there was no funding. That article has haunted me ever since.
Lets suppose that your are the CEO of a large drug company responsible for maximizing the profits of your stock holders. You currently sell an AIDS drug that holds the disease in check for as long as a patient takes it. Lets say it costs the patient $12,000 a year (for life). Now, your research department comes up with a drug that cures AIDS completely. What do you do, release the drug or bury it (until someone else releases a cure)?
It's a no brainer. Under the profit motive you bury it.
Years ago, I read an article in Science News about a drug company researcher who found a promising path to a cure for AIDS. In the article, the writer said that it would not be pursued because there was no funding. That article has haunted me ever since.