The biotech industry is largely invisible to the public, who only see the aggressive marketing and high prices associated with large pharmaceutical companies. This conflation fuels a deep-seated distrust, obscuring the innovative work of thousands of smaller, research-focused biotech firms.
The greatest threat to US innovation is not simply cutting NIH funding, but imposing political litmus tests on which research gets funded. This mirrors the disastrous Lysenkoism of the Soviet Union, where political ideology replaced the scientific method, guaranteeing the destruction of true innovation.
China's growing dominance in pharmaceuticals is not accidental but a deliberate, 30-year national strategy. It began with cornering the market for low-cost active pharmaceutical ingredients (APIs), then generics, and now is focused on becoming the global leader in innovative biotech by 2035.
For rare diseases without established clinical endpoints, biotech firms should co-design new endpoints with patients and their families. Presenting these patient-centric measures to the FDA builds a bond of trust and provides the agency with a clear, meaningful rationale for drug approval.
Dr. Levin argues that modern anti-vaccine sentiment was seeded by Andrew Wakefield's fraudulent paper linking MMR to autism. The medical journal The Lancet's decade-long delay in retracting the paper gave the false claim a veneer of credibility that proved impossible to erase from public consciousness.
Capital markets treat biotech as a short-term trade, clashing with its 10-year drug development cycle. Dr. Levin suggests adopting tax policies similar to the housing industry, where capital gains tax is reduced or eliminated for investors who hold stock long-term, thereby incentivizing patient capital.