Update. New study: "#NIH investment in drugs approved from 2010 to 2019 was not less than investment by the #pharmaceutical industry, with comparable accounting for basic and applied research, failed clinical trials, and cost of capital or discount rates."
https://jamanetwork.com/journals/jama-health-forum/fullarticle/2804378
PS: Relevant to (1) #Trump admin cutbacks to NIH #funding and (2) industry #patents and licensing terms on approved drugs.