But if you really believe that, hen why are so many of these drugs developed in America? Why aren't other countries inventing way better drugs?
So, let's go through a quick run-down of the 'major' pharmaceutical companies of the world, and where they are headquartered.
Company Revenue (USD) Headquarters
Novartis 53.6 Bn Switzerland
Roche 47.8 Bn Switzerland
Sanofi 36.9 Bn France
GSK 34.9 Bn UK
AstraZeneca 26 Bn UK/Sweden
Bayer 43.4 bn Germany
Baxter 15.3bn US
Pfizer 49 Bn US
Merck 42.23 Bn US
BMS 18.8 bn US
So, 4 of the top 10 pharmaceutical companies by revenue are headquartered in the US. By Revenue, those 4 account for 125.3 Bn out of a pie of 367.9 Bn; or 34%.
It is not easy to get a list of the number of drugs under clinical trial, or the number of drugs that were recently brought to market by various manufacturers; and, as a side matter, a number of the more innovative drugs brought to market recently were all developed by small pharmaceutical companies (Boceprevir, Telaprevir, Imatinib, Ipilumimab) that were later acquired by the big boys. So a small pharma company did the innovating, usually funded by a university or the product of particuarly profound insights by PhD students; turned into successful drugs; run through to the stage 3 trial stage and then, once all the development costs are done and dusted, acquired for a discount price of the predicted future revenue stream
So tell me, where are all the drugs being developed by america? I would say the rest of the world is more than pulling it's weight. In fact, given rough population parity between the European first world and the United states, it could in fact be argued that the United states is not pulling it's weight.
I await your reasoned response
It's certainly interesting that Europe has more drug companies headquartered there. Though that doesn't necessarily mean all their operations and revenue are in those countries, but whatever.
It's irrelevant because Europe still has a patent system and still sells drugs to the US under our system. It's not like India where any company can manufacture the drug and patents are rarely enforced.
As for university funded research being sold privately, I agree that is sad and should be illegal.
The modern world of lifesaving pharmaceuticals exists despite the American market's attempts to subvert it, not due to its largesse