Overcoming Market Obstacles to New Antibiotics
The pharmaceutical industry is at its best when private profitability and social good coincide, as it does when useful new drugs attract large market shares. Unfortunately, In the field of antibiotics development, the divergence between profit-seeking behavior and the public good is taking the world to the brink of crisis.
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LONDON – From the strict perspective of some investors, astute financial management by a company to bolster its share price is a good thing. By this narrow logic, when it comes to the pharmaceutical industry, we should be unconcerned if drug firms’ share prices are boosted not by new discoveries, but by financial maneuvers, such as share buybacks or tax inversion.