Expense of new Hepatitis C drug casts a bad light on U.S. Health Care system

Tanya’s Comment: The over-charging of life saving medications needs to stop.

The Secular Jurist

By Robert A. Vella

High demand means high prices.  That’s the system of capitalism which dominates our world today.  In theory, market competition rises in proportion to growing demand which exerts downward pressure on prices through innovation and increased efficiency.  However, reality often doesn’t match theory in the realm of economics especially in the U.S.  Enabled by the de facto practice of corporatism, business interests can monopolize markets, drive out the competition, and exploit consumers and workers.  In the health care industry, this leads to exorbitant costs that can limit or exclude vital medical services from whole groups of sick and injured people.

Such is the case now with a new and effective hepatitis C drug called Sovaldi.

From Reuters (March 21, 2014) – U.S. lawmakers want Gilead to explain Sovaldi’s hefty price:

(Reuters) – U.S. lawmakers have asked Gilead Sciences Inc to explain the $84,000 price…

View original post 433 more words