High Drug Prices: President Biden's Concern

President Biden's concern about high drug prices is rooted in the perception that drug prices in the United States are excessive. These prices are often compared to those in other countries or to previous prices within the U.S. Market, and sometimes see significant spikes even for drugs that have been on the market for a while. The inequity arises when drug manufacturers rely on government-funded research for the basic knowledge to develop drugs and then profit from them by setting high prices. While this concern is valid, it raises questions about the impact of government intervention in granting multiple companies the ability to produce patented drugs.