Chart Comparing Global Drug Prices Exposes How US Govt Creates Mega Profits for Big Pharma

Drug Prices ExposesAfter Martin Shkreli raised the prices of Daraprim, which costs one dollar to produce, from $13.50 per pill to $750 per pill, the public and media roundly panned the Turing Pharmaceuticals CEO for gouging patients in need of life-saving medicine.

While Shkreli’s move may have been extremely ostentatious, and drawn the public’s attention, the issue of overpriced drugs in America is one that is not confined to Shkreli and Turing Pharmaceuticals.

Drug prices in the U.S. have been skyrocketing for years. The latest data indicates that drug prices in the United States are often up to 10 times more expensive than in almost all other developed countries.

While some contend that this is a problem with the market itself, they are incorrect.

It’s the government, not the market that is to blame for this situation.

The main reason why this situation exists is because of patents and intellectual property rights, a government granted monopoly privilege that has allowed these companies to claim a monopoly over a recipe for a particular medication.

In a truly free market someone like him may be able to develop a product and gouge the price, but his competitors would be free to reverse engineer and replicate that product, and offer it for a lower price.

Currently, the government is standing in the way of that happening, not just in the pharmaceutical industry, but across the economy as a whole. Often those who benefit most from the privilege of monopoly are individuals who are capable of buying the rights to a product, essentially forcing those with less resources out of the marketplace.

While Shkreli and Turing Pharmaceutical caved to public pressure and have stated that they will lower the price of Daraprim, the overall problem continues unabated. It’s important to point out that even in this controlled economic environment, it was not rules and regulations that ultimately forced him to lower the price again. It was public pressure and the threat of boycott, both of which are entirely acceptable in a free market scenario.

The reality is that Americans are being price gouged for healthcare compared to the rest of the industrialized world. The reason for the exponentially high price of healthcare in the U.S. has little to do with capitalism and free markets, and everything to do with government interference in the marketplace.

Find us here

Get news from the CSGLOBE in your inbox each weekday morning

The views and opinions expressed in this article are those of the authors/source and do not necessarily reflect the position of CSGLOBE or its staff.

Paid content

France Declares All New Rooftops Must Be Topped With Plants Or Solar Panels

A new law recently passed in France mandates that all new buildings that are built in commercial zones in France must be partially covered in...

14 African Countries Who Still Pay Colonial Tax To France

80% of the 10 countries with the lowest literacy rates in the WORLD among adults are in francophone Africa. Namely: Benin (40%), Burkina Faso (26%),...

California awards Tesla with a massive contract to take state off grid with powerwalls

On the heels of the largest gas leak in US history, the state of California has awarded Tesla with a multi-million dollar deal to supply...

What's New Today

Georgia House Votes To Allow Citizens To Abolish Police Departments In The State

The Georgia House backed an effort on Friday to dissolve the Glynn County Police Department and any...

Leaked CDC document contradicts Pence claim that U.S. coronavirus cases ‘have stabilized’

Even as Vice President Mike Pence wrote in a Wall Street Journal op-ed published Tuesday that coronavirus...

Five bombshells about Trump from Bolton ‘s book

Excerpts from former national security adviser John Bolton ’s book about his time in the Trump administration...

Don’t Listen to Fox. Here’s What’s Really Going On in Seattle’s Protest Zone.

It seems I live in a city undergoing a “totalitarian takeover” that will lead to “fascist outcomes”...

MOST READ

Ancient Paintings of UFO’s from 200 to 15.000 years ago

Ancient Paintings of UFO's Over the past 15,000 years UFOs have been clearly depicted in paintings from all around the world. This video features some...

Out of the Blue

OUT OF THE BLUE is widely considered one of the best documentary films ever made about UFOs and was directed by celebrated filmmakers James...

What Is Agenda 21? Depopulation of 95% of the World By 2030

Most people are unaware that one of the greatest threats to their freedom may be a United Nations program which plans to depopulate 95%...

France Declares All New Rooftops Must Be Topped With Plants Or Solar Panels

A new law recently passed in France mandates that all new buildings that are built in commercial zones in France must be partially covered in...

War on Medical Marijuana Comes to an End

Congress quietly ends federal government's ban on medical marijuana It seems the federal government quietly put an end to the two-decades long struggle between states...

Jeff Sessions Wants To Jail Medical Cannabis Patients, Compares Legal Pot to Opiate Crisis

Attorney General Jeff Sessions continues to ramp up the war on drugs. As a matter of fact, he is asking congressional leaders to undo...

WW3 ALERT: North Korea & South Korea Have Just Started Firing on Each Other

Tensions are on the rise again between North and South Korea, as the two nations have begun exchanging rocket and artillery fire across their border, according...

Richard Dolan: Secret Space Program Conference

Richard Dolan is considered by many students of the UFO phenomenon to be the pre-eminent historian of the subject. He is the author of...

Illuminati, 9/11, Big Pharma, Oil Wars, Conspiracy – Bring Change by Being Happy !

Make it a goal to be happy, not to find proof of why you can not. A lot of people are really interested in all...

The EU commission president just said he is in contact with extraterrestrials.

During a speech on the 28th of June in the European Parliament in Brussels, EU Commission President Jean-Claude Juncker started freaking people out when he...

8 Quotes From a Sioux Indian Chief That Will Make You Question Everything About Our Society

Luther Standing Bear was an Oglala Lakota Sioux Chief who, among a few rare others such as Charles Eastman, Black Elk and Gertrude Bonnin occupied the rift between the...