Good thing they have to go through some of the most extensive efficacy trials of virtually any products in existence. If they aren’t more effective, the generic

Good thing they have to go through some of the most extensive efficacy trials of virtually any products in existence. If they aren’t more effective, the generics are still available for cheaper. This seems to be a common paradoxical argument made whenever drug prices get brought up, particularly insulin. I’ve seen people make the argument numerous times about how outrageous it was that Eli Lilly, which was sold the patent for insulin in the early 20th century for a dollar, is charging hundreds of dollars for insulin today. And yet when it is pointed out that they sell insulin for $20 at Walmart, and the insulin that costs hundreds are newer synthetic versions, the response is that people can’t be expected to use the old stuff because the new stuff is much safer, effective, and easy to use. Which is it? If the new medicine is ineffective, then why do you need to buy it over the older, cheap options? If it is truly an improvement, then why is it wrong for the producers to charge more to account for the R&D costs required to create the new medicine?