Can you imagine that? People demand life-saving medications that cost hundreds of millions to develop. People expect these meds to be cheap. Does that make sense in a free market economy? It doesn’t to me. And I found this refreshing article from the National Review. The whole article is worth a read, but the last two paragraphs sum it up.
…This is why new drugs cost what they do, and why price-controlled Canadian drugs, industry-led product discounts, and Rep. Henry Waxman’s (D., Calif.) comment that “frankly, it doesn’t make sense to me” that innovation and high prices are connected, all will make it harder for this lab and its counterparts to cover their costs. These factors boost the odds that the lights in these miracle factories will flicker, then fade to black.The vaccine against this ailment is for pharmaceutical companies to teach Americans — starting with Washington’s bipartisan political class — a simple but vital truth: Those little pills do not invent themselves.
I just thought you med school kids could really appreciate this.
-nobrainer
