Wednesday, 11 March 2009

WSJ Opinion Column on Biotechnology: When Governments Irresponsibly Want to Impose Controls on Markets ...

The same evil we fear will happen to the financial industry if the path of nationalisation is chosen is clearly haunting the U.S. biotechnology and health insurance industries -- if the Barack Obama administration begins to flirt with price controls and rationing. The Wall Street Journal says:

The U.S. is the last major pharmaceutical market without universal price controls, and as such has been the world's main financier of new drug discoveries. In a world of government-run and -priced health care, biotech innovation will also be as much at risk as traditional drug development. The biggest price we may pay for a health-care system run from Washington are the therapies we never get as a result.

Click here to read the entire article.

Bloomberg News columnist Amity Schlaes also
wrote about this issue (her article is quite complicated though.) Click here to read her article.

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