News Headlines Article

How Big Pharma distorts the costs of developing new drugs
Los Angeles Times

Every time I come across a big-number statistic about the size or significance of some industrial activity, my nose wrinkles.

You know the figures I mean: The porn business takes in $10 billion to $14 billion a year. California’s marijuana harvest is worth $14 billion a year, making it the state’s biggest cash crop. NCAA March Madness costs employers $1.8 billion in lost productivity.