A Quote by John Sulston
It is very clear that the present system of innovation for medicines is very inefficient and really somewhat corrupt. It benefits shareholders over patients; it produces for the rich markets and not for the poor and does not produce for minority diseases.
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We have to change the system. The system is very rotten. The executive is corrupt, the Congress is corrupt, the judiciary is corrupt. ... So what's left We really have to have a radical and surgical change to bring back the image of our country.
In a system of free trade and free markets poor countries - and poor people - are not poor because others are rich. Indeed, if others became less rich the poor would in all probability become still poorer.
You can think of the Health Impact Fund as a mechanism that would keep the benefits and burdens of pharmaceutical innovation for the affluent roughly as they are while massively reducing the burdens presently imposed upon the poor. This sounds like magic. But it really works because the current system is not Pareto efficient. It's a system that generates hundreds of billions of dollars in litigation costs and deadweight losses that HIF-registered medicines would sidestep. By avoiding these losses, the HIF reform can bring improvements all around - including for pharmaceutical innovators.
Innovation must lead infrastructure for a simple but compelling reason: Innovation produces new types of products and markets, and it is virtually impossible to know how to run those markets efficiently before they are created.
As recognized since ancient times, the coexistence of very rich and very poor leads to two possibilities, neither a happy one. The rich can rule alone, disenfranchising or even enslaving the poor, or the poor can rise up and confiscate the wealth of the rich.
An allopath comes and treats cholera patients and gives them his medicines. The Homeopath comes and gives his medicines and cures perhaps more than the allopath does because the Homoeopath does not disturb the patients but allows the nature to deal with them.
Manila is a city of extremes. The poor are very poor and the rich very rich. A constant reminder to the rich that there is another side to life.
The very rich, very poor, and the very famous get the worst medical care. The very rich can buy it, the very poor can't get any, and the very famous can dictate it.
For the present system to work, poor people must be excluded from the innovation, because if they could get access at an affordable price, then affluent people would find ways to buy it cheaply as well - and then the innovator would be poorly rewarded and introductions of new medicines would decline.
I grew up in Northern Ireland, in the middle of nowhere, and when you are poor, you are really poor. And when you are rich, you are very rich. This is not a new phenomenon.
The modern welfare state, highly touted as soaking the rich to subsidize the poor, does no such thing. In fact, soaking the rich would have disastrous effects, not just for the rich but for the poor and middle classes themselves. For it is the rich who provide a proportionately greater amount of saving, investment capital, entrepreneurial foresight, and financing of technological innovation that has brought the Unites States to by far the highest standard of living - for the mass of the people - of any country in history.
Medicines cure diseases, but only doctors can cure patients.
California is many things, and it is a harbinger of what this country will become if illegal immigration isn't stopped. You're gonna have a very rich, very powerful minority of elites - very, very tiny - and they're gonna live in a very few, small, gated enclaves.
Wealth and poverty are seen for what they are. It begins to be seen that the poor are only they who feel poor, and poverty consists in feeling poor. The rich, as we reckon them, and among them the very rich, in a true scale would be found very indigent and ragged.
My goals over the decade include to develop new drugs to treat intractable diseases by using iPS cell technology and to conduct clinical trials using it on a few patients with Parkinson's diseases, diabetes or blood diseases.
I can make it very clear: I get paid if we make good investments. And if we don't, I don't get paid. I have no incentive to sell our companies to Google; the entrepreneurs get to decide that. We are minority shareholders.
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