Source: CounterPunch
by Dean Baker
“[D]rug prices are a problem because of the way we choose to finance the development of new drugs. Rather than pay for research directly — although we do pay for a considerable amount through the National Institutes of Health (NIH) and other government agencies — we offer drug companies patent monopolies to reward them for successful products. These monopolies allow them to charge prices that can be ten, or even a hundred times, the free market price. If a drug is important for people’s health or even their life, they will be prepared to pay an enormous price if they have the money, or if they can get the government or a private insurer to pay for the drug. These monopolies not only lead to high prices, they also invite the sort of corruption that people like RFK Jr. have complained about.” (05/15/25)
https://www.counterpunch.org/2025/05/15/trump-wants-cheap-drugs-so-should-we-all/