CMV: Pharmaceutical companies have the right to charge what they want for proprietary meds/drugs

Here's an update to the study. Key parts:

Pre-tax out-of-pocket per approval is $1395 million (2013 dollars).

Pre-tax capitalized per approval is $2558 million (2013 dollars).

Regardless why is it not acceptable to place caps on how much pharmaceutical companies can charge for their drugs? Something like cover your expenses, plus profit and add 10%. We have caps on how much health insurers can charge people, and require them to spend 80% of their money on claims otherwise they need to refund the money.

The reason people take issue with this is that if someone's child needs a drug that costs $5 to make but they charge $10k it's nearly a form of black mail. They have your most precious hostage and most people will go into financial ruin to save their child. Additionally it seems suspect that medicine will cost thousands of dollars in the US and yet in Canada or Mexico the same drug will be a few hundred bucks.

Yes it's fair for people to make profit and cover costs, you haven't made an argument on why they should be able to make any amount of money they want when they've shown they will prey on the vulnerable.

/r/changemyview Thread