3 ms·
Exactly this. And it’s because the US consumer is paying for the R&D on drugs for the rest of the world. We could balance this out a bit by passing a law that s
by SmellTheGlove 3y ago
Exactly this. And it’s because the US consumer is paying for the R&D on drugs for the rest of the world. We could balance this out a bit by passing a law that says the retail cost of a drug in the US can’t be any higher than the median of the EU + Canada (or something approximating the set of developed economies).
- Scandiravian 3y agoI do get that point, but I'm not sure it would actually work Drug prices in the US are, in part, higher because FDA requirements are much, much stricter so it's more difficult to actually get a drug approved. It's simply more expensive to launch a product in the US, so if it becomes less profitable it might not be worth the risk for companies You could also risk that drug companies launch an analogue of the effective compound in the US to circumvent such a regulation, since it would be two different drugs The reason it's cheaper in Europe is in some part due to having single payer healthcare, which mean that there's a single entity negotiating purchase prices for the entire country, which improves bargaining power significantly