diet coke for breakfast

Tuesday, July 22, 2003

Posted by Jake
Just Say No -- Republicans and Democrats in Congress are considering drug reimportation to lower prescription drug costs. It sounds good, but it's a bad idea.

And he is absolutely right. There is a reason why the vast majority of drugs on the market were created by American companies: because the price controls imposed on European companies limit the success of what is a very risky business. Also people tend to forget that most start-up drug companies fail to make a marketable product. When you see all these people making lots of money it is because they were the lucky ones.

In essence, Americans are paying for the rest of the world to have cheap drugs. You want to lower drug prices; start bringing price controls in Canada to the WTO. That's free trade.

Matt -- As I believe we discussed, what we really need is reform in the patent process the drug companies use... too many of their resources are being spent on patent extension, instead of new drugs. By all means let them recoup their expenses and turn a tidy profit... but then they need to move on and let the people have the generics.


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