New medicines are, unsurprisingly, a really good thing

So let's have more of them.

Via Marginal Revolution, a research paper which looks at the value of pharmaceutical innovation:

Pharmaceutical innovation is estimated to have accounted for almost three-fourths of the 1.74-year increase in life expectancy at birth in the 30 countries in our sample between 2000 and 2009, and for about one third of the 9.1-year difference in life expectancy at birth in 2009 between the top 5 countries (ranked by drug vintage in 2009) and the bottom 5 countries (ranked by the same criterion).

So having lots of new drugs is a very good thing for your country's health. While this may seem unsurprising, it actually goes against the grain of one of the criticisms of so-called Big Pharma, which is that novel pharmaceuticals are being invented more to game the patent system than anything else.

The argument goes that Pfizer, for instance, will shortly lose its patents on Viagra, which made almost £2bn for it in 2008. Rather than cede the market to generics, there's a strong incentive to slightly reformulate it, push for new patents on the chemically-different but practically identical creation, and then aggresively market it "viagra 2.0" or something. If that type of practice were common, we would see declining usefulness from pharmaceutical novelty.

Which means this is good news! Drug companies aren't ripping us all off by only pretending to have new, useful drugs. They actually do.

The next question, of course, is how to encourage pharmaceutical companies to do that more. Right now, we use patents. But is there another way?

HIV and AIDS campaigners carry a giant balloon in the shape of a pill during a protest rally in New Delhi on February 10, 2012. Photograph: Getty Images

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

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What did Jeremy Corbyn really say about Bin Laden?

He's been critiqued for calling Bin Laden's death a "tragedy". But what did Jeremy Corbyn really say?

Jeremy Corbyn is under fire for describing Bin Laden’s death as a “tragedy” in the Sun, but what did the Labour leadership frontrunner really say?

In remarks made to Press TV, the state-backed Iranian broadcaster, the Islington North MP said:

“This was an assassination attempt, and is yet another tragedy, upon a tragedy, upon a tragedy. The World Trade Center was a tragedy, the attack on Afghanistan was a tragedy, the war in Iraq was a tragedy. Tens of thousands of people have died.”

He also added that it was his preference that Osama Bin Laden be put on trial, a view shared by, among other people, Barack Obama and Boris Johnson.

Although Andy Burnham, one of Corbyn’s rivals for the leadership, will later today claim that “there is everything to play for” in the contest, with “tens of thousands still to vote”, the row is unlikely to harm Corbyn’s chances of becoming Labour leader. 

Stephen Bush is editor of the Staggers, the New Statesman’s political blog.