Word: profits
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Typically, Harvard licenses its faculty’s cutting-edge discoveries to for-profit companies, earning royalties in return. But this time, Harvard is taking the unusual step of forgoing much of its royalties on Edwards’ TB vaccine spray both in the U.S. and abroad...
...Basically it’s a gift to a not-for-profit,” says Kohlberg, Harvard’s senior associate provost and chief technology development officer. “We all felt it was the right thing to do.” Both the University and Edwards say the move will fuel future research by MEND—and lower medicine costs for people in developing countries...
Pharmaceutical companies’ reluctance to invest in drugs for diseases like TB leads some to question whether for-profit firms have a productive role to play in treating the world’s poorest. “There are lots of ways of skinning cats, but I don’t think that realistically you can ask corporations to undertake not-for-profit roles,” Whitesides says...
...that funding may come with strings attached—Gates grants like the one given to Edwards stipulate that the recipients’ research cannot be used for profit in the developing world...
China has, of course, seen its share of gold rushes before, many of which ended with little return--or large losses--for investors who stampeded in. This time, many foreign companies seem set to make a tidy profit, not least because the hotel business is one industry in which Chinese firms are not yet equipped to undercut overseas rivals while also providing the requisite quality of service. "You can knock off Prada or Montblanc," says Ralph Grippo, China manager for the Ritz-Carlton hotels. "But there's no way you can knock off luxury service. It's about human beings...