October 28, 2011
In my post on the Innovative Medicines Initiative I mentioned the danger that industry subsidies might sometimes be “little more than corporate social welfare, subsidising an already rich industry or, worse, paying for something that industry would otherwise have done for itself”.
That was meant as a general point and not as a specific comment on the Innovative Medicines Initiative itself.
But now, Katrina Peredhof of Health Action International has pointed me to the following extract from the website of EFPIA, the European pharmaceutical industry association:
Large pharma will also benefit, along with the other participants, from the discoveries made in projects that are worth many times the value of each individual company’s contribution. In some cases, this offers tremendous cost savings, as the IMI projects replicate work that individual companies would have had to do anyway.
Oh dear.Author : Jim Murray