The United States is the leader in life sciences innovation, but that has not always been the case. As global competition intensifies, it needs to continue spurring investment in R&D to stay on top. Rob and Jackie sat down with Stephen Ezell, vice president of global innovation policy at ITIF, to discuss the history of U.S. life sciences innovation and break down R&D costs versus the market prices of innovative biopharmaceuticals.

Mentioned

• Anusuya Chatterjee and Ross C. DeVol, “Estimating Long-Term Economic Returns of NIH Funding on Output in the Biosciences” (Milken Institute, 2012), 4.

Related

• Rob Atkinson and Stephen Ezell, “Five Fatal Flaws in Rep. Katie Porter’s Indictment of the U.S. Drug Industry” (ITIF, May 2021).
• Joe Kennedy, “The Link Between Drug Prices and Research on the Next Generation of Cures” (ITIF, September 2019).
• Event, “How Intellectual Property Has Played a Pivotal Role in the Global COVID-19 Response,” (ITIF, April 2021).