Fred Ledley’s INET-funded research, which has been published as an INET working paper, documents that the US Government is the first investor in practically all crucial biopharmaceutical innovation.
The podcast The Lever recently featured Ledley’s INET Working Paper on the source of funding for FDA-approved pharmaceuticals:
“U.S. government funding is crucial for drug development. In a 2023 study, Ledley and his colleagues found that the NIH contributed $187 billion to scientific research that led to all but two of the 356 drugs approved in the U.S. between 2010 and 2019. This money mainly went toward basic science — foundational research that underpins drug discovery by identifying a key biological target, such as a protein or gene, that may be linked to a disease.”
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