World Health Organization is mistaken on drug price controls
The World Health Organization thinks that drug companies are ripping off cancer patients.
For every dollar these firms invest in drug development, they supposedly reap excessively high profits. The global health body urges governments to consider “strengthening pricing [control] policies at the national and regional levels.”
Instead of promoting price controls that deter research, the WHO should bolster innovation and boost access to lifesaving drugs.
Consider what it takes to bring drug from the initial research phase to a doctor’s office.
The WHO claims it costs $794 million to bring a drug to market — and that companies recoup this investment within three years.
But this estimate is wildly off; it ignores the high rate of research failures.
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