Presidential candidate Hillary Clinton on Monday says she'll lay out a plan to prevent gouging by drugmakers, following an article in The New York Times about a drug whose price was raised to $750 a tablet from $13.50. Meanwhile, $IBB bear flags everywhere. That's weird IMHO. You are free to find an alternative. I produce a product, I set the price. U dont like, dont buy. What do you guys think of it?
No we are NOT free to find an alternative. Our government has excempted the health care industry from just about every anti-trust law on the books. As an example there was a case of a lady in New Mexico that was bitten by a scorpion. The hospital charged her 80,000 dollars for the anti-venom. The Anti-venom is available in Mexico for 100 dollars per vial. It is a felony to purchase this anti-venom in Mexico and sell it in the United States. You can import tons of cheap crap from China and sell it to whomever you like EXCEPT pharmacuticals. Healthcare in the United States is not a "free market" with competition. Healthcare is the epitomy of crony capitalisim. Our congress has been bought off by lobbyists to give us the most expensive healthcare system in the world.
After a huge wave of Biotech IPOs this past spring, summer and into fall (four last week alone), does this signal a top in biotech?