Posted on 03/07/2020 9:40:50 AM PST by Galatians328
Not that expensive.
Oh, to the contrary. It's REAL expensive to get government approval on anything. I have first-hand experience with the EPA. We owned a small company and all the owners had to mortgage everything they had to get approval on a drilling fluid that we developed.
You missed the point. The lawsuits require lawyers and lawyers aren’t cheap. If you want cheap medical stuff, pass tort reform.
Amen. Insurance (legalized gambling) is a creature of government regulation, much more profitable than running a casino.
> Not a free market?
Tell us more. Include your plans to become an insulin supplier.
Lantus has been under patent protections for 20 years with a minimum 3 to 8 years to go. Think they’ve had a chance to recoup their R&D costs yet?
That wasn’t a response to his question.
But you are correct it isn’t a free market - it is a corporate insurance duopoly. Most pet insulin isn’t paid for by a third party payer, so the free market forces do indeed apply to it. Obamacare making the building of additional physician owned hospitals put a swift end to the rising competition from these entities before they had a chance to get off of the ground to make a dent in the corporate duopoly.
Please enlighten us uneducated folks about profit margins, development costs and return on investment.
“The real solution to drug price issues is to let medicare and the big insurance companies negotiate drug prices. It is a battle of titans and the little guy is never going to win.”
That’s not the free market operating. You make my point.
That’s not the free market operating. You make my point.
What part of big companies negotiating with each other is not the free market?
When I personally have to negotiate with megacorp over something I need to prevent me from dying, they have me over a barrel. But if a million people buy insurance and the insurance company negotiates for us, that is much more even.
If they tell me this is the price -- take it or leave it, I am sunk. But an insurance company can put out a request for bids and their sheer size will attract new suppliers into the market.
Now if no one can supply millions of doses at a lower price then the original supplier wasn't gouging after all and we just have to pay the higher price. But if someone can see how to make a profit at a lower price that is classic free market.
The government has always been the referee in the game of free trade. That being the case, we don’t have nor do we want totally free trade. Why? Because of human nature: the strong’s willingness to stomp on the weak.
The referee’s job is to ensure competition among suppliers which is necessary for giving us consumers a good price.
Competition makes the strong fight with each other to give customers their best deal.
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