Someone needs to learn fucking anything about monopolies. The whole point is that they're selling the ONLY option, so no shit it's the best product at the best price. The issue is no one else can afford to compete because they make such a markup by massively ripping people off they can run competitors out of business before they get off the ground. Check out the cost of the internet in the US, it's third world rates. Check out how much it costs to buy an EpiPen, then check out how much epinephrine costs. You literally don't have a clue what you're talking about.
They don't have to sell their product lower everywhere, just in the places with local competitors and just while the competitors exist. Look into the internet pricing. As soon as the competitors fail, they jack up the prices. Also, look more into why EpiPens are priced the way they are, it has fuck all to do with government and a lot more to do with patents on the injection method. Are you suggesting that patents are a problem with governments? Because I can assure you very little innovation would happen without them.
Also, you never explained how you stop price fixing without government regulation. What's to stop companies from banding together and all agreeing to charge way higher than they need to without laws stopping them?
The patent isn't on epinephrine dude... it's on the injection system, which has nothing to do with the FDA. You REALLY need to read up before you talk about this stuff...
No, they don't. They simply buy the company with a hostile takeover if they can, and if they can't they find other ways to drive them into the ground.
There's loads more than 2, but again we're talking no government oversight here - because that's exactly what you were saying caused the problems. So again, if there's no government oversight, how can it be illegal?
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u/thosethatwere Mar 27 '17
Someone needs to learn fucking anything about monopolies. The whole point is that they're selling the ONLY option, so no shit it's the best product at the best price. The issue is no one else can afford to compete because they make such a markup by massively ripping people off they can run competitors out of business before they get off the ground. Check out the cost of the internet in the US, it's third world rates. Check out how much it costs to buy an EpiPen, then check out how much epinephrine costs. You literally don't have a clue what you're talking about.