12/30/24

Theory for Reducing Cost of Pharmaceuticals

 Reforming the patent system might be the simplest way. The USA produces 74% of the worlds new drugs so we shouldn’t do any harm to the profit incentive. New drugs are costly to invent and exclusive patents keep the cost of new drug sales high. Letting new drug patents become public domain after ten years so generic production would make the drugs cheap, yet 10% of sales price would go to the patent holder would lower the cost and keep the profit motive alive.

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