May 12, 2014 -- Global pharmaceutical companies are dodging the risks by loading R&D costs on to taxpayers. Countries around the world are seeking long-run, innovation-led growth in the “real economy”. This is born of a wish to move away from speculative growth led by short-term financial markets. For this reason, industrial policy is back on the agenda after years of being a near blasphemy.
The life-sciences industry is top of the list, for both Barack Obama and David Cameron, of “real” industries to nurture through such policy.
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