I hope those people who previously argued drug costs would invariably go down without governmental oversight just because of increased competition once the patent runs out would read this article and learn from it.
I read the same article as did you. I learned that you did not properly interpret the term ‘increased competition’. GOVERNMENT oversight has little to do with ‘increased competition’.
I agree there is increased competition when a drug patent expires and the government is not involved. No argument there. However the article relates to the COST of the drug, not just competition.
It appears a generic drug’s cost INCREASED as a direct result of illegal activities by Teva and their competitors. You do think drug companies colluding to increase the cost of a generic drug is illegal and should be punished if proven guilty, right? That’s the gov’t job here.
So we’re back to my point: drug costs do not invariably decrease just because of increased competition and there needs to be gov’t oversight to ensure collusion and price fixing doesn’t take place.
I hope those people who previously argued drug costs would invariably go down without governmental oversight just because of increased competition once the patent runs out would read this article and learn from it.
I read the same article as did you. I learned that you did not properly interpret the term ‘increased competition’. GOVERNMENT oversight has little to do with ‘increased competition’.
I agree there is increased competition when a drug patent expires and the government is not involved. No argument there. However the article relates to the COST of the drug, not just competition.
It appears a generic drug’s cost INCREASED as a direct result of illegal activities by Teva and their competitors. You do think drug companies colluding to increase the cost of a generic drug is illegal and should be punished if proven guilty, right? That’s the gov’t job here.
So we’re back to my point: drug costs do not invariably decrease just because of increased competition and there needs to be gov’t oversight to ensure collusion and price fixing doesn’t take place.