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Having seen the prices charged for drugs and how they then calculate future prices (after the R&D costs have been recovered), I have a very sceptical view of an
by oldandtired 7y ago
Having seen the prices charged for drugs and how they then calculate future prices (after the R&D costs have been recovered), I have a very sceptical view of any comments that say we need to consider R&D and regulatory cost recovery before complaining about the prices being charged for anything in the medical technology field. Having also discussed what was seen by someone I know who left the corrupt world of advertising to go to the medical technology world, I also consider anybody saying the same about recovery of R&D and regulatory costs to either being a liar or deluded. The gentleman in question went back to the advertising world because they were innocent children compared to the corruption and price gouging that went on inside the medical technology industries.
There is a captive market here and the seller can sell at any price they want and make any markup they want because they can. There are some very honourable people and companies who do not price gouge in the field. But it seems that these are a very small minority.
Now mind you, this kind of price gouging occurs anywhere there is a captive market. But some industries are more susceptible to it than others.