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18 Annals Health L. 155 (2009)
Prizes for Innovation of New Medicines and Vaccines

handle is hein.journals/anohl18 and id is 179 raw text is: Prizes for Innovation of New Medicines and Vaccines James Love* Tim Hubbard** I. INTRODUCTION Although difficult to measure precisely, the U.S. market for pharmaceuticals is approaching $300 billion, including more than $100 billion paid for by the federal government.' Outlays, including federal obligations, are expected to increase dramatically as the population ages.2 The new administration faces a daunting task in terms of managing the system; it must find ways to stimulate innovation, control costs, and ensure that people have access to new products at affordable prices. Changes are needed in the way that drug developers are rewarded, in order to address many of the best-known flaws of the current system. These flaws expose the need to control costs, promote useful innovation and expand access. Four options are discussed, each building upon the others, and departing further from the status quo. . James Love, M.P.A., is Director of Knowledge Ecology International (KEI). This paper was presented in a keynote address at Loyola University Chicago School of Law's Second Annual Beazley Symposium on Access to Health Care, Perspectives on Patents and Patients: Can They Co-Exist? in November 2008. Tim Hubbard, Ph.D., is Head of Informatics at The Wellcome Trust Sanger Institute, Cambridge, UK, and Joint Head of the Ensembl genome annotation project. The authors are indebted to the advice and commentary from many persons, including the participants of a January 28-29, 2008, KEI & UNU-MERIT Workshop on Medical Innovation Prizes in Maastricht, the Netherlands, a February 8, 2008 KEI & George Washington University Law School Workshop on Medical Innovation Inducement Prizes, in Washington, D.C., an April 11, 2008 MSF expert meeting on R&D for tuberculosis in Geneva, Switzerland, and a January 16-17, 2009 KEI, Health Action International, MSF, Oxfam, UAEM & lQsensato Roundtable on prizes for Type II & III diseases in Geneva, Switzerland. KEI is grateful for support for work on medical innovation inducement prizes from the Open Society Institute, the John D. and Catherine T. MacArthur Foundation, the Perl Foundation, the Rockefeller Foundation and the Ford Foundation. 1. Pharm Exec Staff, Pharm Exec 50: The Winners' Circle, PHARMACEUTICAL EXECUTIVE, May 1, 2008, at 74, 82. 2. PHARMACEUTICAL RESEARCH & MFRS. OF AM., PHARMACEUTICAL INDUSTRY PROFILE 2008, 19-26 (2008).

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