Most scientific research is done by private companies these days. This has been helpful in many ways as new innovative products make life easier for the public. But this has also led to a number of problems.
There are many private organizations conducting research on medicines and other necessities of life. The real motivation is profit. In most cases before conducting the research, the return on investment is estimated, and only if there is a high possibility of making high returns only then it is give the green light. In addition to this, in majority of the cases these institutions buy copyrights of the products. This acts a barrier for others to manufacture a substitute and prevents competition in the market for the product. This ultimately leads to high prices.
On the other hand, if this scientific research is conducted by government, this will solve the problem of inflated prices and research being done only on products with possibility of high ROI. But this will affect the quality of the products as there is always a possibility of corruption within the system. Moreover, when it comes to governments there is always room for inefficiency in the work being done and that could result in a lot of delay. The solution to this would be a partnership between both entities.
In conclusion, Public-Private Partnership (PPP) would be the best way going forward. This way the shortcomings of both can be reduced and the ultimate goal of welfare of the society can be achieved.