Even with academia/govt shouldering the cost of basic research, developing and testing a brand new drug can still often cost billions to the company itself. We don’t need to stretch out 30 years as patent exclusivity normally last 10, and then ideally the generics market steps in to force the 1)
2) Original developer to lower the price through competition. But it doesn’t always work out that way, and the original developer still often finds ways to charge significant markups for their drugs well beyond the cost of manufacturing. So I agree with you there it’s still a problem, just nuanced.