Pharma prices are bullshit, that's true. Pharma companies are snakes, also probably true.

Not sure if it is the case here, as it depends on what is included in "production cost", but I've seen FAR too many people fail to comprehend the actual cost structure of running a business and why things cost what they do. People get fixated on raw material costs, or basic manufacturing cost while fully ignoring all of the downstream/overhead/R&D/other costs. And then there's the whole other side of the coin re: the value delivered by a product and how that feeds into the pricing structure (i.e., you can buy a product for $X and it directly saves you from having to spend more than $X on something else). A functioning market sorts all of this out.

This is why price transparency is so important in relation to drug prices. And Trump's EO killing all of the kickbacks, backroom deals, other countries getting better deals than the USA, etc. All of that stuff defeats market efficiency and lets the snakes profit.

Pharma prices are bullshit, that's true. Pharma companies are snakes, also probably true.

Not sure if it is the case here, as it depends on what is included in "production cost", but I've seen FAR too many people fail to comprehend the actual cost structure of running a business and why things cost what they do. People get fixated on raw material costs, or basic manufacturing cost while fully ignoring all of the downstream/overhead/R&D/other costs. And then there's the whole other side of the coin re: the value delivered by a product and how that feeds into the pricing structure (i.e., you can buy a product for $X and it directly saves you from having to spend more than $X on something else). A functioning market sorts all of this out.

This is why price transparency is so important in relation to drugs and drug prices. And Trump's EO killing all of the kickbacks, backroom deals, other countries getting better deals than the USA, etc. All of that stuff defeats market efficiency and lets the snakes profit.