I'm reminded of the insulin scandal, wherein the price was raised to such an unnecessary level just because they could.

Lobbyists work with government

Someone who ain't bought and paid for by the system.

The lobbyists cant do anything if you take away the governments power to dish out special favours

A company rasing the price of insulin wouldn't be an issue if the government wasn't handing out patents for these companies which creates monopolies

Also you could buy insulin from walmart for like $25 right?

The price spike youre talking about effected insurance

I dunno. I'm in Canada. My stuff is mostly covered.

I agree with that sentiment about the insulin. Not to mention most of the drugs are funded by tax payer grants yet we don't get any rights to the drugs once they are manufactured.

Yeah drug companies shouldn't be funded by tax

Are there any researchers actively working on an actual cure for diabetes, or did they just say "we have insulin, good enough?"

Also the insane price of drugs in America can easily be put down to the FDA and patents in the medical industry

Explain how the FDA drives up drug prices?

Love to

How much do you think R&D costs drug companies

around 15%-20% of their costs

The production

The cheapest part of the actual process

Costs literal pennies for most pharmaceuticals

Where do you think the rest of the money goes

Regulatory compliance

And procedures and lobbying

The FDA must approve a drug before it's put to market

This process is the most costly part

and can take up to 7 years

Cancer research gets, what? Millions per year? Would it cost people the same amount to get their cancer cured?

Also what if you spend a lot of money on a drug and takes 4 years of FDA approval and then gets rejected in the end

You don't get your time and money back

So you need to raise the prices of the rest of them that actually make it through to the market

Then after that

You get a patent

So no one can copy your drug

Except China. They love reverse-engineering patented American products.

Sorry, I'll stop.

That's ok

IP is bad for consumers

It's anti consumer

And anti business

It's pro monopoly and pro government law

IP? Intellectual property?

Yes