Few topics unite Left and Right more than indignation at the eye-popping prices of prescription drugs. President Trump says that Big Pharma is “getting away with murder.” And Democrats want to enable Medicare to negotiate lower drug prices and create a “price gouging enforcer.”
The Food and Drug Administration (FDA) cannot directly influence drug prices, but FDA Commissioner Scott Gottlieb recently denounced companies that “‘game' the system,” using FDA rules and review processes to increase their own profits by “keeping competition at bay.” This happens not only with prescription drugs and medical devices but also with food products.
