Jamie Love sez, "Senator Bernie Sanders (I-VT) has introduced legislation in the US Senate that would use prizes to reward medical R&D, and eliminate all drug monopolies. It includes an open source dividend of $4 billion per year."
Both bills would eliminate all legal barriers to the manufacture and sale of generic versions of drugs and vaccines. The more ambitious bill is the Medical Innovation Prize Fund Act, which would apply to all prescription drugs. The narrower proposal is the Prize Fund for HIV/AIDS Act, which would only apply to treatments for HIV/AIDS. The Medical Innovation Prize Fund would create a prize fund equal of .55 percent of US GDP, which is more than $80 billion per year at current levels of U.S. GDP. The HIV/AID Prize Fund would be funded at .02 percent of U.S. GDP, which is equal to more than $3 billion per year at current levels of U.S. GDP.
The federal government and private health insurance companies would co-fund the prizes, according to formulas set out in the bills. The cost of the prize funds would be more than offset by the savings from the introduction of generic competition for products.
Both bills have some similar features to Senator Sanders' earlier prize fund bills, but there are also a number of changes. Among those changes are the introduction of an open source dividend element to the bills, which would have at least 5 percent of the prize money going to persons or communities that put knowledge, data, materials or technology into the public domain, or provide royalty free and non-discriminatory access to patents and other intellectual property rights. Annually, this would be more than $4 billion for S. 1137, and $147 million for S. 1138, at 2010 levels of GDP, as an incentive to open source research.
Neven Mrgan takes a prescription drug called Cuprimine. Without it, he would slowly die from liver disease. Unfortunately, the price of Cuprimine has gone from $400-$1,700/month to $44,000/month. Curprimine is made by Valeant Pharmaceuticals, run by billionaire J. Michael Pearson. He’s stepping down, not because he jacked up the price of Cuprimine and other medications, […]
It’s an open secret that the pharmaceutical industry spends billions marketing to doctors, deliberately misleading them about their products, raking in record profits that they shift into offshore tax-havens through legally questionable means, while lobbying for global treaties that benefit them at the expense of the sick.
Jamie Love is one of the founders of Knowledge Ecology International (formerly the Consumer Project on Technology), a super-effective activist NGO that helped to establish low-cost, global access to HIV/AIDS drugs.
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