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The United Kingdom's National Health Service marked its 70th birthday this year, so this is a good time to reflect on the NHS' past and consider its future.With corporate governance increasingly oriented around narrow financial indicators such as quarterly earnings, drug companies have hiked up medicine prices, and the NHS is bearing the costs.Last year, the NHS in England spent 1 billion pounds ($1.28 billion) purchasing medicines that have received investments from the U.K. Medical Research Council and other public bodies.High drug prices can have ripple effects beyond public health around the whole world. It creates a huge barrier to access to medicines for 2 billion people and pushes 100 million people into extreme poverty every year. In Europe between 2000 and 2014, 51 percent of newly approved drugs were modified versions of existing medicines, and thus offered no additional health benefits.With health care systems often failing to provide patients with the treatment they need at a price they can afford, and with health innovation not addressing public health needs, the status quo is not sustainable. But to restore public purpose to health care provision and innovation will require the kind of transformation that the NHS' founders ushered in 70 years ago.
Who really creates value
in an economy anyway?
The value of government risk-taking, thinking big
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