The US patient has been subsidising our drug prices for years, but there is nothing they can do about it, whatever the Don thinks. His problem is that the ‘non socialised’ and very fragmented US healthcare system has loads of groups in the supply chain with an interest in keeping prices high, whereas in ‘socialised’ European systems you have one strong central buyer, with an interest in keeping prices low. But without the profits that the US brings, the Pharma industry couldn’t take on the huge risk of developing new stuff, hence the US patient subsidises innovation for the rest of us. Trump could change things by having a central pharmaceutical price negotiation mechanism for the US, but that smacks of socialism so he can’t do that.
I’ll give you a lecture on international pharmaceutical pricing over a few pints (it will probably take at least six) some time. It’s rather complicated and totally insane, but it’s given me a living for 17 years so I can’t really complain.
that would be very interesting.
I heard people say we overpay for medicines (i.e. they cost a fraction to make) but i guess they need that mark up to fund the R&D side of things.