The Center for Innovation and Free Enterprise Introduces Fact of the Week

Intellectual property is paving the way for a promising future – saving lives made possible through investing billions in research to discover and create multiple COVID-19 vaccines. The record timing of the creation of these vaccines will be remembered as some of modern-day science’s greatest achievements. 
However, we are hearing that Congress is currently considering socialist legislation that threatens our healthcare system, reduces access, stifles innovation, threatens jobs, deters investments, and risks our future life-saving cures and vaccines.

Over the next several weeks, we’ll be providing you a series of healthcare and innovation related facts so you know what’s at stake.

Welcome to the newest series of CIFE’s Healthcare Fact of the Week!

The cost drug companies devote to develop a new drug—including capital costs and expenditures on drugs that fail to reach the market—has been estimated to range from less than $1 billion to more than $2 billion.