Biden admin undoes Trump order on pricing for epipen, insulin
Normally I'd call this situation something that shows the demand for market forces and competition in the market for those goods. But -- government regulation forms a tremendous barrier to entry in medical fields, and often patent laws do too. The result is an effective medical monopoly on goods people need for their health care (an artificial source of demand), combined with provably artificially inflated prices. This is why we have antitrust laws.
The price for an epipen was increased by a factor of over 100x prior to the Trump order. Just because the manufacturer decided to take some profits, not for any reasons relating to cost. That's exactly the sort of thing that should invite antitrust scrutiny.
And now the Biden admin is canceling those orders. But aren't the Democrats supposed to care about the cost of medical care to ordinary people?
I guess not anymore.
This entry was published Tue Jan 26 21:21:35 CST 2021 by TriggerFinger
and last updated 2021-01-26 21:21:35.0.