I heard an argument some time that European healthcare and health R&D is indirectly subsidised by the US. The mechanism at works is 1) US consumers are ripped o

I heard an argument some time that European healthcare and health R&D is indirectly subsidised by the US. The mechanism at works is 1) US consumers are ripped off by pharma; 2) pharma's higher profits lead to higher investment in R&D; 3) everyone profits from that and in the European case negotiate lower prices. I've always wondered to what extent this is true.