According to a new report from the advocacy group United for Medical Research, and authored by economist Everett Ehrilich, because of the National Institutes of Health's investments, "the cost of sequencing a genome has fallen from over $100 million at the beginning of the last decade to about $20,000 today," and further, it's predicted that "the sequencing business will grow by 20 percent a year and become a $1.7 billion industry by 2015." The Wall Street Journal adds that NIH's $3.8 billion investment in the Human Genome Project, "along with subsequent capital provided by the government and the private sector, generated a total return of roughly $49 billion in direct and indirect federal tax revenues over the last two decades or so," according to a separate report authored by the nonprofit Battelle Memorial Institute, with support from Life Technologies. Daily Scan's sister publication GenomeWeb Daily News has more on the Battelle report here.
Reports Tout Return on NIH's Investment
May 11, 2011