People spend all kinds of money on tattoos, piercings,hairdos, manicures, pedicures, x box, cell phones, wide screen tv, premium movie channels, etc. etc. but to spend money on something to save their own lives........
They think someone else should pay for it.
A valid point you have made.
Do you find the price increase for epipens to be called for? Is the company getting sued out of existence or something?
Whether the increase was called for or not is none of my business.
They own the product, they can do what they want with it.
People can pay for it or go elsewhere.
What did people do before epipens?
New businesses can start up to offer alternatives.
When a door closes, a window opens.
Sorry, but the fanciful idea of a "free market" does not apply to medical industries. Free market necessarily requires consumer choice. When you're nearly dead, choice goes out the window.
While I agree with your last statement, this product is not purchased when you are "nearly dead". So that fails.
"Free market necessarily requires consumer choice." Finally, we actually agree on something. Why, in your opinion, is there no consumer choice for these? Furthermore, do you think it's a "good thing"? Should there be a period of time where a new product is "protected" from competition? If so, how long?
Why do you believe that free market "rules" do not, or more accurately "should not", apply to medical industries? Is it that they are "too important"? What other industries should not be subject to free market "rules"?
The US Patent office protects rights of innovators well enough, and however long they need to recoup R&D is good enough. What's increasingly happening with various treatments (biologics are one good example) is that the companies are able to extend patents through loopholes in US patent law, and thanks in large part to their benefactors in Congress.
I'm not some anti-pharmaceutical hippy. I've been diagnosed with arthritis for more than 20 years, and the biologic treatments have been a near-miracle. But Pfizer and other companies have become very, very VERY rich as a result, and at some point the balance has tipped too far. It STILL costs $1100 per month to benefit from biologic treatment for arthritis if you don't have insurance.
And if you don't think there are cases where someone is "nearly dead" when they acquire an epipen, I question your general knowledge about medical science, and allergies in particular.
Other industries that should not involve pure "free market" liberation include water and sewer districts, roads, infrastructure, defense, police, etc. Increasingly, however, we're letting private companies get insanely rich by usurping government operators and doing so with built-in profit. That's not a free market, that's corporate welfare.
So is this.