The days of the blockbuster drug, are over and costs of development are escalating. So if we are to continue with a market-driven approach to developing new drugs. investors need a more persuasive investment proposition.
This means that we must therefore either accept higher prices for drugs or re-evaluate our approach to patent protection. A longer patent lifetime would allow investors to generate a return over a longer period and incentivise pharmaceutical companies to develop new antibiotics. Perhaps even more importantly it would provide a business model that could safeguard the pipeline of new affordable medicines for many other diseases and establish Britain as the destination of choice for the next generation of drug hunters.
A modified version of this was published in the Daily Telegraph