Why pharma doesn't invest in birth control
There hasn't been much innovation in women's birth control since the pill came to market nearly 60 years ago — because drug companies don't stand to make much from it, Bloomberg reports.
Where it stands: Only 2% of drug companies' annual revenue from contraceptives goes back into research and development, according to the Gates Foundation.
- That's about $100 million, or less than a sixth of what may be spent to bring one cancer drug to market.
How it works: “The pill is as cheap as chips,” Anna Glasier, honorary professor at the University of Edinburgh, told Bloomberg. “So everything has to be not much more expensive than that.”