Should the government cap prescription drug prices? | The Tylt

Should the government cap prescription drug prices?

Three U.S. senators have launched a probe into why a 40-year-old cancer drug's price has increased 1400 percent. Introduced in 1976 to treat brain tumors and Hodgkin's lymphoma, one capsule of Lomustinecost $50 in 2013 and now the same dose costs $768. Critics say we can't allow unscrupulous profiteers to purchase drug patents and jack their prices out of reach of sick people who need them. But others say we must let the free market decide. Should the government cap drug prices? 💊

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Should the government cap prescription drug prices?
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Should the government cap prescription drug prices?
#ControlDrugPrices
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Senators Claire McCaskill, Susan Collins and Cortez Masto are asking Tri-Source Pharma CEO Robert DiCrisci to explain the price increase and how much of a profit his company makes from the drug.

#ControlDrugPrices

Did we learn nothing from Pharma Bro? Unless the government steps in, unfettered capitalism means that anyone who can buy the rights to life-saving medicines can ask whatever price they want for it. 

#LetTheMarketDecide

But others argue pharmaceutical companies are justified in increasing these costs because of how pricey it is to bring drugs to market. FDA approval is wildly expensive and requires numerous clinical trials. This is the price of innovation.

#LetTheMarketDecide

Free-market loyalists like former Sen. Tom Coburn argue that government interference will only exacerbate the problem.

Rather than doubling down on government regulation, we should rely on the free market, which is the best way to allocate these scarce resources, increase competition, lower prices and continue to foster medical innovation for years to come.
FINAL RESULTS
Politics
Should the government cap prescription drug prices?
A festive crown for the winner
#ControlDrugPrices
#LetTheMarketDecide