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Cancer research leads to returns on investment

By Tim Sandle     Jun 21, 2014 in Business
London - A new report, examining the return-on-investment from cancer research, quantifies the returns from the U.K.’s investments as 'considerable'.
A team led by Jonathan Grant of the nonprofit RAND Europe and King’s College London have studied the returns on government investments cancer research. Their report concludes that for every pound ($1.70) the U.K. invested in cancer research from 1970 to 2009, the country saw a return of 40 pence ($0.68).
With the report, the authors studied the economic benefits that came from efforts to reduce smoking rates, to expand cervical cancer screening programs, and from the development of breast cancer treatments like tamoxifen.
In a briefing document, the authors summarize the benefits as:
"Our findings suggest that despite uncertainties, the historical economic returns were substantial and would justify the public and charitable investment made in cancer research. However, it is important to note that past performance is not an indicator of future performance, and given the observed increase in cancer research investment over the last two decades, greater net health gains would be needed to see similar returns.
“This study highlights the significant returns that have been realised as a result of the huge generosity of the British public, who in the last 40 years have contributed an astounding £15 billion [$25.5 billion] to cancer research through their taxes and charitable donations,"
More about Cancer, Cancer research, return on investment
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