Yeah, there is something that is regularly overlooked about developing antibiotics: new ones end up on a shelf as the new last resort. If you've got a timeframe (imposed by patent lifetimes) in which you have to recoup your investment, that is a shitty situation for a pharma company to put itself in. "It's for the public good" is not the kind of due dilligence many shareholders like...
You can consider this problem in two ways. Either you see the need for increasing the patent lifetime - at least for certain drugs - or you consider this a weakness of a privatized pharmaceutical industry, and take it as an argument in favor of placing the government in charge of pharmaceutical developments.
