O'Reilly logo

The Cure in the Code by Peter Huber

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

16

REASSEMBLING THE PIECES: PART 3

MERCK SPENDS A billion dollars getting to the point where it can mass-produce the genius of a Maurice Hilleman at pennies a shot. A still higher cliff separates the vaccine’s value to its recipient from that mass-production cost. The diseases eradicated by Hilleman’s green thumb would otherwise have cost humanity countless hundreds of billions of dollars in lost productivity, disability, premature death, and time spent attending to the sick. In circumstances like these, how is Merck to set an appropriate price?

Economists have established—as rigorously as things ever get established by the dismal science—that there is no efficient price, no “right” price, for the main constituent of every drug: know-how. Any ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required