How to fix the American drug industry

In America, medication is extremely expensive — and it's getting worse. Stories of Wall Street bloodsuckers snatching up the patent on some lifesaving drug and jacking up the price by many thousands of percent are routine, and reflect a broad-based increase in the price of drugs in general.

But it's not just prices. The American drug system has also become sclerotic and corrupted, almost entirely geared to the commercial needs of pharmaceutical companies.

In the British Medical Journal,...

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