Week 10: Are Drug Costs Really the Problem?

Topic: Universal Healthcare and Healthcare Reform

Question: Drug prices are often cited as a reason for the high costs of healthcare. However, introductions of new drugs often reduce the cost of healthcare ( https://www.manhattan-institute.org/issues-2020-drug-prices-account-for-minimal-healthcare-spending (Links to an external site.)) and exceptional cases (i.e. insulin and Daraprim) are generally a function of patent law or regulatory compliance issues. Why do we focus so much on drug costs, and why do we not criticize the high costs of regulatory compliance (i.e. FDA approval and cGMP) driving up the costs of new drugs?