Steve Moore speaks with Mike Ybarra of PhRMA to discuss the complex economic landscape of the American pharmaceutical industry. Ybarra explains that while the United States leads the world in medical innovation and life-saving breakthroughs, the high cost of drugs is exacerbated by a supply chain where intermediaries like insurance companies and pharmacy benefit managers capture half of every dollar spent. The conversation warns that implementing government price controls could jeopardize future cures for diseases like cancer and Alzheimer's by destroying the financial incentives for high-risk research and development.
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