Our healthcare system is broken, a fact nobody would have disputed in precovid days. Regulatory capture is a reality, and the pharmaceutical industry is fraught with examples. Yet we trusted private-public partnerships to find an optimal solution to a global pandemic, assuming a crisis would bring out the best in historically corrupt institutions.
The leading 14 Big Pharma firms paid out more to enrich their investors than they spent on research and development from 2016 to 2020, according to a report by the U.S. House Oversight Committee. The report also divulged big payments to top executives.