It's Time to Rein in Exorbitant Pharmaceutical Prices
Anger over American pharmaceutical drug prices has been simmering for quite some time but boiled over in the past few days with one company raising drug prices by 5,000% and presidential candidate Hilary Clinton promising big price changes if elected.
Many proposals for drug price reform (regulation, single payer) are short sighted as they treat the symptom (high prices) without addressing the root causes. The truth is pharma companies aren’t evil, they are just playing by the rules set by the U.S. Government and their stockholders. It’s time to address the root causes of the drug price bubble by having a frank discussion on regulation, what role the U.S. has in funding R&D, and the realities of R&D budgets.
Please check out my latest piece – which I believe is my best ever – in the Harvard Business Review which outlines my proposal to reform pharma pricing.
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