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Podcast: Open to Debate
Episode: #125 - Is "Big Pharma" to Blame for Rising Health Care Costs?
Description: Motion: Blame Big Pharma for Out-of-Control Health Care Costs. Health care costs in the U.S. are some 18 percent of GNP, nearly double what other rich countries spend. We read of drug therapies that cost $100,000 a year or more, and of drug price increases that are 6 times the rate of inflation, on average, and often much more when mergers reduce competition in the industry. Is this a major driver of excessive health care costs? Or is it a by-product of the huge costs of getting new drugs approved? Has big pharma delivered drugs that reduce the need for costly...