Obama Creating Billion Dollar Gov’t-Run Drug Company - Barack Obama - Fox Nation
Politics

January 23, 2011

Obama Creating Billion Dollar Gov’t-Run Drug Company

AP

By Gardiner Harris

The Obama administration has become so concerned about the slowing pace of new drugs coming out of the pharmaceutical industry that officials have decided to start a billion-dollar government drug development center to help create medicines.

The National Institutes of Health has traditionally focused on basic research. But the drug industry's research productivity has been declining for 15 years, "and it certainly doesn't show any signs of turning upward," said Dr. Francis Collins, director of the institutes.

 

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