3 ms·
The US has by far the highest pharma/biotech drug prices in the world. They are effectively paying for global R&D. Other countries use collective bargaining and
by Blackstone4 8y ago
The US has by far the highest pharma/biotech drug prices in the world. They are effectively paying for global R&D. Other countries use collective bargaining and government regulation to negotiate price. If I'm correct this is illegal in the US.
In the UK for instance, we do not have access to the best drugs because they are too expensive.
A large part of US insurance expenditure goes to pharma...
- heisenbit 8y agoThey are not paying for R&D but they are paying for drug pushers and doctors bribes. Seriously, the marketing budget exceeds the R&D budget.
- AnthonyMouse 8y agoThey are paying for R&D and marketing. Even if you subtract out the difference in marketing budgets, the US is still paying for a disproportionate share of the R&D. Moreover, ban drug marketing if you like, but keep in mind two things. One, the marketing is primarily so "worthwhile" because of the price insensitivity. Patient requests equivalent but better-advertised drug even if it costs $75,000 more dollars, when they're not the one paying. So fix that and the marketing budgets drop along with drug prices. Two, marketing increases the number of "customers" by more than the cost of the marketing (or why do it?), and the extra money is what both encourages and pays for more R&D.