This chapter explores the repercussions of escalating drug prices on consumers, emphasizing the role of government and private insurance in covering these costs. It delves into the complex distribution channels and the disparities between drug pricing in the US and other countries, shedding light on the exploitation and profit-making at the expense of taxpayers and premium holders.
Robin Feldman of the University of California Hastings College of Law and author of Drug Wars talks about her book with EconTalk host Russ Roberts. Feldman explores the various ways that pharmaceutical companies try to reduce competition from generic drugs. The conversation includes a discussion of the Hatch-Waxman Act and the sometimes crazy world of patent protection.