Katie Porter asking some interesting questions
The pharmaceutical industry has long defended astronomically high drug prices for Americans by arguing they need to spend billions and billions of dollars to find new drugs. The industry threat is that if drug prices are regulated by government negotiation, the industry will go extinct and new drugs will cease to come forth from the miracle of the operation of the unfettered free market.
The following 2-minute video of Democratic California Representative Katie Porter (Harvard Law School (2001), Yale University (1996), Phillips Academy — Andover) questioning AbbVie CEO Richard Gonzalez is of some interest in this matter.
Questions: If the AbbVie financials presented in the video are reasonably representative of the entire big pharma industry, how well has unregulated free markets served the public interest in this economic sector compared to the private sector? Will Porter's questioning of Gonzalez make any noticeable difference in drug prices or industry propaganda? Does any difference need to be made? Katie Porter for president 2024?
No comments:
Post a Comment