iMed is an Art / Earth / Tech Initiative, iMed (innovation in Medical and Entrepreneurial Development) is a project researching financial incentives for pharmaceutical research and development.
Today, millions of people around the world cannot afford access to life-saving medicines. Monopoly rights awarded to drug discoverers keep prices high and restrict competition. Health providers are in crisis, and have to make tough choices about what drugs they can afford to provide. A new system is needed. Incentives for pharmaceutical R&D need to be connected to healthcare outcomes to increase access to medicine while simultaneously encouraging research innovation. The best resolution to the tension between access and innovation is a remuneration rights model that removes the dilemma and offers incentives for both innovation and access; it provides a free market, state-independent mechanism resourced by the state and philanthropists that incentivises innovations via remuneration based on health impact, on condition that the innovations are free to use and unrestricted, allowing for competition in manufacturing and therefore lower prices for medicines whilst providing incentives for innovators at a similar level to today.
Read more on: http://imedproject.org/