FT book review: Mazzucato notes that “75 per cent of the new molecular entities [approved by the Food and Drug Administration between 1993 and 2004] trace their research ... to publicly funded National Institutes of Health (NIH) labs in the US”. The UK’s Medical Research Council discovered monoclonal antibodies, which are the foundation of biotechnology. Such discoveries are then handed cheaply to private companies that reap huge profits. http://www.ft.com/cms/s/2/32ba9b92-efd4-11e2-a237-00144feabdc0.html#axzz2b60t62Wq