Does the World Free-Ride on US Drug Development?

Economics in Action

In this episode, we explore the claim made in a recent Wall Street Journal opinion piece, entitled, "Be Thankful for High Drug Prices" that claims high drug prices in the US are what allow for new drug innovation and that other countries take advantage of this. We'll explore the economic quirks of the drug industry and look at some argument and evidence that counter the claim the authors of the piece make.
The article: https://www.wsj.com/articles/be-thankful-for-high-drug-prices-healthcare-policy-research-and-development-3e603ca8

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