Membership
Get unlimited digital access. Try it today for only $0.99.
Topics

Research and Development

How taxpayers prop up Big Pharma, and how to cap that

How taxpayers prop up Big Pharma, and how to cap that

When Martin Shkreli of Turing Pharmaceuticals raised the price for Daraprim by 5,455%, he put drug pricing on the agenda for the leading 2016 presidential candidates. Bernie Sanders is reported to have rejected Shkreli's campaign donation, and Hillary Rodham Clinton came out with a plan to tackle spiraling costs. Even Donald Trump called Shkreli a spoiled brat.

Everyone knows that Americans pay high prices for drugs. But there is more to this story. The taxpayer not only shells out at the pharmacy but often plays a critical role in funding these drugs in the first place. In other words, the public pays twice.

Although the pharmaceutical...

Loading
75°