Abstract

The means by which medicines are discovered are just as important to understand as the particular discovery process for any one drug. It is argued here that future breakthroughs in medicine will only occur if governments back basic pure research, and that governments should both provide direct funding and encourage other bodies to fund this research. Furthermore, when it comes to funding the riskier drug discovery and development, an environment is needed in which those who take the risk receive the reward #8211; through tax breaks for those, such as venture capitalists, who are prepared to take the risk, and through a sympathetic drug pricing regime that fairly rewards those that succeed in passing the necessary regulatory standards for a safe but effective medicine.

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