> the patent protection does not last very long. In addition to all of that, Americans end up subsidizing drug development costs, since some countries fix drug prices <
Good points. And I’ve read that some countries (I’m looking at you, India) essentially blackmail the pharmaceutical companies. Sell your new drug for cheap in our country, or we’ll just ignore your patent and make a generic equivalent ourselves.
Maybe the answer is to greatly extend the patent protection. Give the companies more time to turn a profit.
I have seen that suggestion, I don’t remember where.
It probably is a moot point anyway. As we sink further into the pit of “socialized medicine,” drug development will grind to a halt. No one is going to sink billions of dollars into development if the government forces them to sell at “affordable” prices.