Greetings Jon!
And shame on you for calling that negotiation. That’s called tyranny…
Agree to a price - at the point of a gun isn’t negotiation.
If the supply for a good in a market is controlled by one entity, that is called monopoly. Monopolies have negotiating parity with
only monopsonies. If there is only one seller, there can be only one buyer for parity to exist in negotiations about price.
This is not an opinion, this is an objective fact.
Apropos, a single-payer system is absolutely requisite in order to fairly negotiate drug prices. This is the most fundamental reason that drug prices are lower in virtually every other country. In those single-payer schemes, the drug company must negotiate with the single-payer system in order to achieve a sales deal.
If the single-payer system sets a price that’s too low, the drug company is free to walk away, which neither want to happen. If the drug company sets a price that’s too high, the single-payer system is free to walk away, which neither want to happen.
Under this system, there is actual parity. Actual equality in negotiating power; unlike with the present system in America.
In every group of humans, there are scoundrels. And to attempt to smear all pharmaceutical in this way is contemptible.
Shkreli isn’t unique, just stupidly vocal. The CEO of the company that owns Epipen just underwent a similar experience. When you’re a monopoly and your customers have no collective bargaining rights, you can (and will) charge whatever you d@#% well want to. Your shareholders require it.
The monopoly in healthcare would be a single payer system, but you seem to be in favor of that, apparently for the joy of milking the shareholders of pharma companies, and doctors.
Ugh, more fear mongering… Look, Jon. The rest of the world seems to be doing just fine under that system. According to virtually all credible measures, they seem to be doing better, actually. And per capita, they do it cheaper too.