Dr. Peter Bach Explains How Increasing Drug Prices Stifles Innovation
Dr. Bach describes how the ability to charge increasingly higher prices for drugs that already have competition on the market is stifling innovation and wasting resources and human subjects.
"Xalkori was on the market for about $10,000 to $12,000 a month. When Zykadia got approved, same space, they charged more: $14,000 to $15,000 a month."
Dr. Bach explains how the pharmaceutical market does not function like a regular market, especially in certain disease spaces. In the example of ALK inhibitors, every company gets their monopoly price, and everybody gets to set their price.
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