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

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...

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%),...

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...

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

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%...

Complete List of BANKS Owned/Controlled by the Rothschild Family

What’s the significance of having a central bank within a country and why should you concern yourself, your family and colleagues? Central banks are illegally...

Putin has Banned Rothschild and His New World Order Banking Cartel Family from Entering Russian Territory

As of recently, Russian president Vladimir Putin took yet another decision for his country. "Under any circumstances", the Rothschild family is banned from entering Russian territory. Along...

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...

Meanwhile, Spotted Together At A Party In The Hamptons…

While publicly polarizing average-joe America at every opportunity, it appears the ‘elites’ are having a blast ‘together’ behind the scenes… As Politico reports… OUT AND ABOUT IN THE HAMPTONS — Lally...

Breaking: Seattle Joins Major US Cities to Sue Monsanto for Toxic PCB Contamination

The city of Seattle now adds its name to 5 other major US cities that are suing Monsanto over PCBs. Perhaps a tide of...

Media Silent as US Announces Unprecedented Move to End Drug War

Slipping by virtually unnoticed, the United States made a surprising move last week toward entirely ending the contentious and wholly ineffective War on Drugs. With the...

New York Times and AP Finally Retract False Claims on Russia Hacking

Among the most oft-repeated claims of the entire Russia election hacking scandal is that of absolute unanimity among US intelligence agencies, with media and...

Monsanto Ordered To Pay $93 Million For Poisoning Residents With Agent Orange

Monsanto Ordered to Pay $93 Million to Small Town for Poisoning Citizens Earlier this month the State Supreme Court of West Virginia dealt a huge...

Brave Mad World: The Control of Mind and Body

People who believe they have been targeted by mind control technologies have often been been met with skepticism or outright disbelief. However, recent revelations...

These 3 Things Could Destroy the Human Civilization, Says Stephen Hawking

Famous for his scientific research on black holes and physics, world-renowned physicist Stephen Hawking has issued a stark warning on things that he strongly...