What they’re doing with big pharma is, is charging Americans exorbitant prices to finance research and development so that they can then manufacture drugs and sell them overseas.
This government likes to accuse nations like China of directly subsidizing corporations, as state capitalism. Our approach is a substitute to accomplish exactly the same ends.
It’s gone to American because the price gouging here results in a subsidy to big Pharma. So, what I see is, other countries use state capitalism, a subsidy against the public at large, as opposed to the U.S. approach, a subsidy borne by a subset of the public, patients, which winds up delivering the same subsidy as government state capitalism.
I’m not seeing the advantage of the U.S. approach. The public here *isn’t* getting a better deal, and not getting a comparable deal that patients in say, Europe or Asia are getting.
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What they’re doing with big pharma is, is charging Americans exorbitant prices to finance research and development so that they can then manufacture drugs and sell them overseas.
This government likes to accuse nations like China of directly subsidizing corporations, as state capitalism. Our approach is a substitute to accomplish exactly the same ends.
https://www.fiercepharma.com/pharma/what-would-drug-price-reform-u-s-bring-lilly-ceo-ricks-says-look-at-europe
>“In the 80s and 90s, this was a European industry,” Ricks said in an interview. “Eighty percent of global R&D was happening on the European continent and today it’s less than 20. Where’s that going? It’s gone to America.”
It’s gone to American because the price gouging here results in a subsidy to big Pharma. So, what I see is, other countries use state capitalism, a subsidy against the public at large, as opposed to the U.S. approach, a subsidy borne by a subset of the public, patients, which winds up delivering the same subsidy as government state capitalism.
I’m not seeing the advantage of the U.S. approach. The public here *isn’t* getting a better deal, and not getting a comparable deal that patients in say, Europe or Asia are getting.