Earlier quoted context omitted.
This… is a think that people believe, but it’s not as simple as that. Most basic research is universities, all over the place. Many drugs are developed in Europe. A lot of medical machinery is developed and made in Europe (Siemens, Philips and Roche are huge in this space). Like most things, med tech is fairly globalised.
> This… is a think that people believe, but it’s not as simple as that. This is a thing people believe because pharmaceutical companies keep repeating it. And to be fair, they're not entirely wrong in that getting a drug/treatment from the lab to the pharmacy is incredibly expensive because most drugs don't work and clinical trials are super expensive. It does seem to me that a better system would be to split out the…
The companies have the biggest PR arms, so took the most credit for a system that had been balanced on a lot of government funding in the earlier, riskier stages. Eventually the marketing got so unbalanced people didn't realize how much the system was more complex than the marketing and voted for people that decided it was a "free market" idea to smash the government funding for the hard parts of science.