Even in Britain, drug companies sometimes demand prices so high that the
medical system refuses to buy them.
It's much worse in the US where Congress, corrupted by the drug companies,
tied the government's hands about negotiating prices with the drug companies.
The main reason drugs are so expensive is patent law, imposed by the
WTO. This is one of many reasons we need to make big changes in the
WTO or else get rid of it. However, the concentration of the drug
industry, through many mergers, has given the drug companies greater
clout (as has occurred in many other areas of business), and this
contributes to the problem. We need to make big companies split up.
My tax proposal would be one way to do that.