2min chapter

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#263 – John Abramson: Big Pharma

Lex Fridman Podcast

CHAPTER

Is There a Ban on Pharmaceutical Companies?

I'm trying to empathize with the belief that companies should have a voice at the table. We're in this crazy situation where Medicare is not allowed to negotiate the price of drugs with the drug companies. Unlike every other developed country, they can charge whatever they want. So they have a monopoly on a utility because no one else can make the drug. Charge whatever they want and Medicare has to pay for it.

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