Basic research creates foundation knowledge that can drive medical innovation, but rarely does academic research create final composition of matter. Private funded work is all the non-research components of drug discovery - optimization of molecules, regulatory work, commercialization, etc...
To imply that private companies reap the rewards of basic research without contribute much is ignoring the many other components of translational work.
To imply that private companies reap the rewards of basic research without contribute much is ignoring the many other components of translational work.