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%...

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...

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...

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...

EU criminalize seeds and plants not registered with government

A new law proposed by the European Commission would make it illegal to "grow, reproduce or trade" any vegetable seeds that have not been...

Sam Parnia, the man who could bring you back from the dead

Sam Parnia MD has a highly sought after medical speciality: resurrection. His patients can be dead for several hours before they are restored to...

McDonald’s Franchise Owners Confirm: Fast Food Giant “Facing Its Final Days”

San Diego, CA — Embattled fast food giant McDonald’s is making headlines yet again. The company has just launched its much advertised all-day breakfast program,...

Islamic State an imminent threat to US?

Pentagon calls Islamic State threat 'beyond anything we've seen' US Defense Secretary said on Thursday that Islamic State militants could possibly pose an even bigger...

‘Evidence I never worked for Russia’: Snowden on NBC report claiming he’s to be ‘gifted’ to Trump

While there may be little credibility to the latest US media report claiming Moscow will present President Donald Trump with former NSA contractor Edward...

Conflict in Syria – Trump Says Will Work With Russia

Now that Trump is the new president of the U.S., we are able to understand him better day by day. Each presidential issue brings...

Russia Again Calls for the Elimination of New World Order

“Lavrov said that the time when the West called the shots was over and, dismissing NATO as a relic of the Cold War, added:...