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The Best Of The Money Show

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Magda Wierzycka will be in The Apprentice South Africa TV series

18 June 2020 7:20 PM

Guest: Magda Wierzycka | CEO at Sygnia Group

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Shapeshifter - SA Animation company triggerfish now in Ireland

1 July 2020 8:09 PM

Guest: Stuart Forrest/ CEO at Triggerfish

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Business interruption insurance- Insurance claims Africa does online presser with tourism Business Council

1 July 2020 7:34 PM

Guest: Wendy Knowler/ Correspondent at Consumer Talk

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Drug profits - a neccessary evil or something that needs to change

1 July 2020 7:25 PM

Using profit to solve health issues does not work in a pandemic, perhaps at all.

This is a really complex issue. How should we fund the research for more effective drugs to treat conditions that may affect millions, knowing that many will not work and then determine how to price those that do work to cover the costs not just of the drug that did work, but the research for those that did not.

The cost to produce the drug has components that include the search for the potential candidates, the development of the tests on animals and then humans and the ongoing monitoring to determine its effect.

The mechanism to do this has been to have for profit companies get patents for their discoveries and then get a period between 5, 12 and sometimes over 20 years to be able to exclusively supply the drug and set its price.

There is no question that the system can be better. The question is how and despite many attempts by those that have practical alternatives, it does not appear enough has changed to make medicine more accessible.

Could the Covid-19 pandemic provide the public support to overcome the financial resistance that those that benefit from the status quo?

Image credit - Pexels

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