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by faeriechangling
720 days ago
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High drug prices also incentivize companies who don’t do R&D themselves to corner the market on existing drugs and raise prices. As for “free ridership”, the US only has so much military and economic power to compel the rest of the world to give them money because THEY own certain molecules and not anybody else. It is actually totally absurd to think the US can unilaterally set prices because of a self-inflicted victim complex. If the US wants less free riding it should spend less on research which is fundamentally impossible to profit from without mass scale coercion, or maybe should kick off some cooperative research funding agreements. The TPP shakedown meant to force the global poor to pay tribute to US pharma in the guise of a trade agreement went down in flames and it went well below actually expecting poorer countries than the US to pay more for drugs - which is a bad pricing strategy anyways driven by envy since you will not achieve optimal profits if you price people out. |
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High drug prices do not encourage cornering the market on drugs, for obvious reasons?
> As for “free ridership”, the US only has so much military and economic power to compel the rest of the world to give them money because THEY own certain molecules and not anybody else. It is actually totally absurd to think the US can unilaterally set prices because of a self-inflicted victim complex.
Most developed countries have sufficient rule of law that they won't sell a drug if the creator refuses to sell it in the country. If that can't be enforced, that's too bad - as it will leave us all worse off in the long-run.