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No, this is a myth. We know this because the same drugs often times cost a fraction of the price in other countries. The real reason drug prices are astronomic
by enraged_camel 8y ago
No, this is a myth. We know this because the same drugs often times cost a fraction of the price in other countries.
The real reason drug prices are astronomical in the US is because the US government is legally prohibited from negotiating drug prices. So the pharmaceutical companies can literally set any price they want.
You don’t have this problem with certain government agencies that are exempt from this prohibition. For example the VA can often acquire the drugs for much cheaper.
- ekianjo 8y agoDoes not matter how much it costs in other countries. the reality is that pharma companies make their revenues in the US at the level of 70 or 80 percent. You can be sure the level of investment would be very different if prices in the US were much lower. In practice the US is subsidizing drug development for the rest of the world.