Well worth a read.
Here's a quote:
In Wednesday's speech Dr. Vagelos said, "Most drugs are a terrific bargain." And he believes that high prices are justified if the drug offers high value. But value, of course, can be subjective. Dr. Vagelos was diplomatic enough not to identify the company from behind the lectern--you can probably figure which well-known biotech he's referring to--but he went on to say that he has a problem with the $50,000 price tag for a drug that adds four months of life.
"There is a shocking disparity between value and price and it's not sustainable," he said. "The industry will bring about government price controls which will be devastating for the industry," Dr. Vagelos added. And if the feds don't step in, he believes market forces will.
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