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The United States spends $45 billion annually on the National Institutes of Health (NIH), which in turn goes to fund new drug research. Every drug that the US Food and Drug Administration (FDA) approved for sale between 2010 and 2019 benefited from research funded by the NIH, according to a 2020 study from the Institute for New Economic Thinking.
Because the United States so heavily subsidizes R&D, reducing profits on top drugs by 15 to 25 percent would have a negligible effect on the number of new drugs introduced over the next decade, according to a 2021 study from the federal, nonpartisan Congressional Budget Office.✏️ Heavily subsidized R&D by taxpayers.. lowering their profits will not affect new R&D, no matter what they say.
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If anything, they’ve historically spent more on stock buybacks and dividends than on R&D.
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