The regulatory and uncertainty assault on the industry goes back to HillaryCare. Even though that boondoggle was squelched, the pharmaceutical industry reacted with a huge contraction, consolidation, and mass exodus of manufacture and development overseas. Next came the defensive strategy of making “me-too” drugs over investment in truly innovative drugs. The rise of small biotechs was supposed to be “the answer,” but it’s more like a thoroughbred farming operation. Big pharma picks a potential winner; but if the horse doesn’t win big in the first race, it’s put out to pasture.
In the meantime, places like China and India, which have no compunction about stealing patents, will invade the pasture, steal the horses, and make winners out of them.
