#412 - An RFK Intervention (w/ Coleman Hughes)
The Fifth Column
The Incentive to Innovate in Normal Times
In normal times, the principal knock on the regulators who are responsible for approving drugs is that they take entirely too long. But in general, the rest of the pharmaceutical industry actually doesn't have a great deal of incentive to innovate because it's really, really hard to get your drugs approved. The principle victim there and the principle consequence is that lots of people end up dying because the experimental drugs that might have saved their life don't ever get released. And that's the real cost.
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