I think there's a valid discussion around how do we compensate pharmaceutical companies. But bringing in terms like fair and market price into a discussion arou

I think there's a valid discussion around how do we compensate pharmaceutical companies. But bringing in terms like fair and market price into a discussion around a industry that doesn't even come close to resembling a market seems strange. If market prices are too low than we have an inefficiency where we're not properly incentivizing drug research but if prices are too high then for twenty years we have a situation where some people are not getting a beneficial medication that could be provided at a very low marginal cost which is also a market inefficiency. It seems like one solution is a bounty system where the government in addition to paying low unit prices writes giant checks based on the value of the medication. With larger checks for medications that work through new pathways and generate higher quality adjusted life year gains. We need to also address the cost of FDA approval which is a very large portion of research costs.