Monday, October 05, 2015

Opportunistic Acquirers of Orphan Drugs Like Labor Unions?

This is kind of old news now, but the outage over a company that acquires rights to an orphan drug and promptly raises the price from $13 to $750 per pill is an outrage that no ideology of capitalism should attempt to defend. Most pro-capitalists would decry crippling labor strikes. rightly. Just because some damn union gets a stranglehold on a mundane, but crucial corner of the economy (trash collection, public transport, coal mining, whatever) doesn't mean they should be able to use that un-earned leverage to extort above-market wages. Well, what is right for labor is also right for capital.


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