2,000% drug price surge is a side effect of FDA safety program

The U.S. Food and Drug Administration plans to encourage testing of medicines that have been around longer than the modern FDA itself, and so have never gotten formal approval. Companies that do the tests are rewarded with licenses that can temporarily give them monopoly pricing power as most rivals are eased or kicked off the market. The result has been a surge in the cost of drugs. Aaron Kesselheim (Brigham and Women’s) is quoted.

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