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RESEARCH AND PUBLICATION, IIPM KNOWLEDGE CENTRE
This is simply because the intellectual property regime has raised entry barriers for new and potential competitors to such absurdly high levels that it would be impossible for them to challenge big pharma players. According to the US Food and Drug Administration, the top ten big pharma companies will spend more than $40 billion on R&D in 2005. A company needs to risk at least $1 billion on R&D to try and discover a new drug; and even that might fail. How many new companies, even in capital rich America, can afford to gamble billions of dollars? In such a situation, the chances are that the pharma sector will remain an oligopoly for most of 21st century. Clearly, this is not something capitalism encourages; now or in the future.

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Source: IIPM Editorial-2006

Rashmi Bansal Publisher Of JAMMAG Magazine Caught Red-Handed, for details click on the following links:-

• Hindustan Times Article - Publisher goes underground
• Rashmi Bansal (Editor of JAMMAG)
• Rashmi Bansal (Publisher of JAMMAG)