A lot of people complain about expensive drugs, and the drug companies tell you that the reason for this is "the cost of development" and in particular "clinical trials". Before I tell you my idea, I must tell you that I am not a doctor and a complete amateur in every sense.
Now, to my idea. At the same time as we have expensive drugs people complain about power structures in academia, large publication gateways and huge tuition fees that prevent access to research and knowledge.
What if these two factors were seen as one problem? You widen the entrance at the same time as you drastically increase the subsidies for clinical trials, thus relieving drug companies of their alibi. When I say widen the entrance, I mean compulsory open access publication for certain types of projects and public domain and creative commons patents. So you pay less for research and also for clinical trials.
(If you like my idea, I also have a patent for a perpetual motion machine.)
Your idea proposes addressing two issues simultaneously - the high cost of drugs and the barriers to accessing research and knowledge in academia. By widening the entrance to research and clinical trials open-access and increasing subsidies for clinical trials, you aim to relieve drug companies of their claim that high drug prices are necessary due to the cost of development and clinical trials.
The idea of compulsory open access publication for certain types of projects and public domain and creative commons patents could potentially reduce the cost of accessing research and knowledge. Open-access publication would make research findings more widely available to the public, removing the need for expensive journal subscriptions or paywalls. Public domain and creative commons patents would allow for broader use and development of innovations, potentially leading to more affordable and accessible drugs.
Increased subsidies for clinical trials could help lower the financial burden on drug companies, which could be passed on to consumers in the form of lower drug prices. By making clinical trials more affordable, you aim to remove one of the justifications used by drug companies for high drug prices.
However, it's important to note that drug development and clinical trials are complex processes with various stakeholders involved, and any proposed changes would need to be carefully evaluated for their potential impact on the overall pharmaceutical industry, including issues such as intellectual property rights, incentives for innovation, and regulatory requirements.
While your idea has the potential to address some of the challenges related to expensive drugs and restricted access to research and knowledge, it would require careful consideration and collaboration among stakeholders to ensure that it is implemented effectively and does not have unintended consequences. It may be worthwhile to further research and explore the feasibility and potential implications of such an approach in order to make an informed decision.
Thank you Santhakumar Aridoss, i do not propose to have all the answers. If somebody uses it as a starting point and then comes up with a modified or even better idea that would be great. High drug costs is huge problem.
One of the things I did not mention was that the flow of capital in the form of revenue to stock holders is seldom measured against the drug cost. The company claims that the price is a reflection of efforts they have put into their product. But has anyone checked if at the same time as this claim is made, money is taken out of the company and given to private owners? There is no law against making money. But are the sums large or small compared to other businesses?
Good suggestion to cut the cost of medicine produced by famous pharmaceuticals. The patent rights should be finshed after a period of 3-5 years and doctors should write generic medicine instead of expensive brands.
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