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Two pharmaceutical company's (likely more, not sure) have engaged in extreme price gouging when it comes to their drugs or drugs they have bought the rights to.
What happened to AIDS drug that spiked 5,000% - Aug. 25, 2016
EpiPen CEO: Blame the 'broken' system, not me - Aug. 25, 2016
These companies basically operarte as oligarchies once they have a drug that's patterned and effective, with no regulation or competition as to what they can charge consumers. There actions have severely impacted citizens lives negatively and the only concern by the company is as to profit margin.
Many decry regulations, but should drug pricing be regulated and price controlled? What other methods can be incorporated to control drug pricing and prevent abuses such as these?
Another thing is that while most companies won't engage in this extreme and overt type of behavior, I don't doubt for a second that there are many are pricing their drugs well above a fair market value that is consistent with their investment and a decent profit margin. It's basically the wild, wild west of drug pricing for these new drugs that are under patent protection.
What happened to AIDS drug that spiked 5,000% - Aug. 25, 2016
EpiPen CEO: Blame the 'broken' system, not me - Aug. 25, 2016
These companies basically operarte as oligarchies once they have a drug that's patterned and effective, with no regulation or competition as to what they can charge consumers. There actions have severely impacted citizens lives negatively and the only concern by the company is as to profit margin.
Many decry regulations, but should drug pricing be regulated and price controlled? What other methods can be incorporated to control drug pricing and prevent abuses such as these?
Another thing is that while most companies won't engage in this extreme and overt type of behavior, I don't doubt for a second that there are many are pricing their drugs well above a fair market value that is consistent with their investment and a decent profit margin. It's basically the wild, wild west of drug pricing for these new drugs that are under patent protection.