Deregulation And Market Forces Can Lower Pharmaceutical Prices

The pharmaceutical market is anything but free at present.

In the rollout of their “Better Deal” program this week, Democrats identified high prescription drug prices as a major challenge facing America and proposed new regulations to rein them in.

Their diagnosis is spot on, but their prescription is backwards. The way to roll back pharmaceutical prices is to deregulate and rely on market forces. But for that to happen, both Democrats and Republicans will have to resist the pharmaceutical lobby, which benefits from the status quo and is very generous with its donations.

…continue reading

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