The move by European drugmaker Novartis to buy two generic drug companies is a result of U.S. government policies that "place short-term savings ahead of long-term research and development," writes Dr. Scott Gottlieb, editor of Forbes/Gottlieb Medical Technology Investor. If Novartis had entered the generics market 10 years earlier, leukemia patients would be without its breakthrough Gleevec drug today, he says.

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