Frederick Banting, who patented insulin, sold that to the University of Toronto for $1. Because it belongs to humanity, the sick, sufferers with diabetes.
2021, is the 100-year anniversary of the discovery of insulin by Frederick Banting, James B. Collip, Charles Best, and John J.R. Macleod. The patent for the hormone, which was extracted from an animal pancreas with the goal of helping those with diabetes control their blood sugar, was sold to the Governors of the University of Toronto in 1922 for only one dollar. The four men credited with this groundbreaking discovery had no shortage of disagreements — Banting and Macleod chose not to put their names on the patent, with Banting of the opinion that as a physician who had taken the Hippocratic oath, it would be inappropriate for him to patent the discovery of a medical treatment. But even those who did opt to patent the hormone chose not to profit from it, despite facing the prospect of astonishing wealth from their potent and widely-needed treatment…
Since its discovery, insulin has actually become cheaper to produce. Most insulin on the market today is recombinant…If the price of insulin amounted solely to the manufacturing cost, each person with diabetes would pay a maximum of $6 for insulin each month. The enormous disparity between this estimation and the much more expensive reality is attributed to price gouging by pharmaceutical companies.
Read the complete article and draw your own conclusions. No surprises, eh?
Both the Democrats and the GOP like to best finance their initiatives. The issue is who they want to help. The GOP wants to reward the top 1% and the Democrats want to help the other 99%.
All improvements take debt financing. I’d rather make sure we help the 99%. I’m sure the top 1% will find a way to make money on it.
Chinese workers building a high-speed railroad
All the recrimination-filled reporting and commentary about how fast Afghanistan fell to the Taliban after President Joe Biden made the courageous decision to finish withdrawing our troops misses a much more important story.
This story concerns why Americans can’t have nice things anymore while our main economic competitor China does and is investing in a lucrative and influential future.
It’s the story of jettisoning the sensible Powell Doctrine of asking if war is quickly winnable before rushing into military action in favor of chronic combat. Endless war creates enormous fortunes for investors in the military-industrial complex, enabled by jingoistic political cowardice in Washington.
For two decades our elected leaders foolishly spent our money trying to impose democracy at the point of a rifle in a country with no democratic culture or tradition…
To date, U.S. taxpayers have spent about $2.3 trillion on an undeclared war that cost 2,448 American troops their lives avenging about the same number of lives lost on 9/11/2001. More than 100,000 Afghans died in the 20-year war…
The total ultimate Afghan war bill? More than $6.4 trillion, according to the Cost of War Project at Brown University. That’s more than $100,000 for the iconic family of four.
Please read Johnston’s rant in its entirety. Someone has to explain this arrogance, ignorance and futility to American taxpayers and, believe me, that someone won’t be speaking on behalf of the Democrats or Republicans treasured 2-party system.