this post was submitted on 21 Oct 2023
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Scandinavian countries:
I don't think he meant to the consumer. EU countries can negotiate for the price with pharmaceutical companies, so they can lower the price.
In the US insurance companies can try to negotiate, but their weight is quite low, and the federal government (medicaid, medicare) is forbidden by law to negotiate. Whichever price pharma sets, it's that.
Is that true? Is there a legitimate reason why they shouldn't be able to?
Because medicine shouldn't become a flea market where you're gambling your health against profit maximization.
Give pharmaceutical companies a fair price scale where they can profit, don't let them hyperinflate prices without justification.
It's not the same if Apple prices their phones at 20,000 USD and you decide you're buying other brand, pharma plays these extortion games after they have captured enough market/regulation so most people have to pay or stay sick.