This “hidden” research system, which operates outside of the patent system, has huge potential to regularly provide society with affordable treatments. Examples of this have included using a cancer drug to treat a leading cause of blindness, changing a drug from treating breast cancer to preventing it, and using an old anti-inflammatory drug to treat Covid. The new research led by King’s College London and published in the Cambridge Law Journal explores the parallel drug innovation system taking place outside of pharmaceutical companies. The research shows that hospitals and universities are conducting substantial numbers of late-stage clinical trials funded at less than 10% of pharmaceutical companies’ reported costs. This is in part because universities and hospitals are able to carry out these trials with fewer resources than industry. In drug research and development there are three main barriers to innovation: expertise, risk and capital. These barriers are high for organisations that develop new drugs.…