[AnthonyMouse]

> Competition can enter but the barriers are too high - even without any government protection remaining on the generics in question.

But that's the whole point -- what is causing the barriers to be so high? Regulatory capture isn't just patents. Drug companies like the fact that a would-be competitor has to pay millions of dollars in regulatory compliance costs to enter the market. Because it should cost them $1 to make drugs they sell for $1.25, but apply enough red tape and it costs them $100 to make drugs they can sell for $300. They still can't charge $10,000 because that would invite competitors, but the $99 in overhead is what allows them to charge $300 for something that should cost $1.25. The overhead raises the barrier to competition, resulting in less competition.

And the fact that most of the drugs are paid for by insurance companies or the government only exacerbates the situation, because they're deep pocketed bureaucracies under orders to pay whatever price the seller sets. No surprise the sellers take advantage of that.

> (well and lack of price regulation by our healthcare system)

The problem with price regulation is that it only solves a small part of the problem. If you're wasting $99 in overhead, you might shave off some of the profit margins but you're still spending $100 to produce something that should cost $1 and sell for <$2. You have to actually address the regulatory costs -- and if you did that then you would have competition.

[dv_dt]

Those costs don't go to zero without compliance - there would either be costs to manufacture with sufficient medical quality or people would be getting shoddy drugs (which is a human cost). Blackmarket drugs get cut or replaced or just have random terrible things mixed into it all the time so I am skeptical of zero-compliance cost drugs.

[alexanderstears]

Okay, if you want to pay extra for compliance, you're allowed to do so. Just as you're allowed to spend more on iPhones. It's mean-spirited of you to argue that others should be bound to your quality expectations.

[dv_dt]

If you don't want the quality, you are free to go procure the medical drugs and services from a back alley, but I doubt it's worth all the verification work that would require...

[alexanderstears]

That's not true in America.

[AnthonyMouse]

Compliance costs can be low without being ineffective. You can buy a bag of spinach for $2 and yet so few of them are infected with salmonella that when it does happen it's a huge scandal.