By Futurist Thomas Frey
The pharmaceutical industry tells a compelling story: massive research investments, cutting-edge science, life-saving innovation, and drugs that cost billions to develop. We’re told that high drug prices are necessary to fund the research that creates tomorrow’s cures. We’re told that patents protect innovation. We’re told that the system, while imperfect, is delivering medical breakthroughs that extend and improve lives.
AI analysis of pharmaceutical research, development, pricing, and patent strategies is revealing a very different story: an industry that has largely abandoned genuine innovation for incremental modifications of existing drugs, that extracts maximum profit from monopoly pricing while shifting research costs to taxpayers, and that systematically suppresses competition and alternative treatments to protect revenue streams.
The awakening in pharmaceuticals isn’t about whether medicines save lives—they obviously do. It’s about revealing that the system ostensibly designed to incentivize innovation has instead created incentives for market manipulation, evergreening, regulatory gaming, and price extraction that has little to do with innovation and everything to do with maximizing profits from captive markets.
Continue reading… “The Awakening Series Part 12: Pharmaceuticals—The Innovation Illusion”