Warning to the rest of the world
America is trying to control everything.
When the White House rolled out its 64-page plan outlining the goals for ramping up the country's biotech and biomanufacturing industry in early March, included were sections by such departments as Agriculture, Commerce, and Health and Human Services. There was nothing from the Department of Defense (DoD), but that doesn't …
That was a very long way of saying some potentially very, very profitable corporations want taxpayers to fund their R&D for them.
They've seen how much money the US Government is prepared to throw at the chip manufacturers and they want a cut. The old "National Security" angle is clever, dress it up in red white and blue and point to scary China and they'll get their money too.
One factor behind that success is the prices that US patients pay for pharmaceuticals. Biotech needs no more help.
Instead, congress should finish the job with the hospital price transparency regulation which became effective January 1, 2021, with bipartisan support.
Poorly enforced, with minimal fines, and full of loopholes, we can only presume enough politicians received enough donations to kill their own child.
Overpriced health costs (relative to other OECD nations 2x) is paid by companies who hire, train, and maintain full time employees - e.g., manufacturing.
That expense gives an edge to investing in gig-style style service companies - that produce nothing concrete.