Big Pharma Explained: Why Are Meds So Expensive? [& The Solution]
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In this episode, we dissect the harmful reality of America's ballooning drug prices—especially the life-and-death issue of insulin affordability—and share new legislation out of California. This is Big Pharma, explained.
Today's three integral guests (listed below) join the Laura Flanders Show to discuss the pharmaceutical industry and how to end Big Pharma companies' monopoly.
The current model of the pharmaceutical industry, in which profit-driven Big Pharma companies decide who manufactures treatments, where, & at what cost, is a threat to public health.
Public pharmaceutical manufacturing could limit the enormous power of these Big Pharma companies and potentially spark a public health revolution.
New legislation in California is a shift in the usual dealings of Big Pharma business. This state's groundbreaking move to produce insulin will eradicate the astronomical profit margins that private companies currently enjoy. This change has the potential to bring about significant economic and social benefits, enabling a larger demographic to engage in the workforce and community. And as you'll hear in the conversation, this discussion is not limited to the Democratic Party nor Republican Party — it's bipartisan.
Access and equity in healthcare starts with systemic changes in pharmaceutical production and distribution. Here's what's happening in the US & globally.
00:00 Intro
00:45 The issue of insulin accessibility
02:04 Meet today's guests
05:33 The battle with Pfizer
07:53 Why do drug patents last so long?
09:50 The potential solutions, explained
15:45 Opposition to the solution
16:57 Here's why the solution is bipartisan
18:50 Are we close to a diabetes cure?
20:25 "We need to decolonize our approach to medicine"
21:32 Final thoughts
“This has economic & social benefits for all of us...Having the public sector take a bigger role in the production of distribution of medicine historically starts to shift the balance of power.” -Dana Brown
“Our current model for vaccine research development & distribution globally is colonial in many ways, because big pharmaceutical companies have the ability to decide who gets vaccines, treatments, insulin & other pharmaceutical products, & when & at which prices.” -Luis Gil Abinader
“10% of the population has a chronic illness, & [pharmaceutical companies] are exploiting & extorting our need for this drug. It's coming to an end because people like me & rising up & talking about it & sharing our stories.” -Kevin Wren
GUESTS:
Dana Brown: Director, Health & Economy, The Democracy Collaborative
Luis Gil Abinader: Legal Scholar; Fellow, Georgetown University Law O'Neill Institute; Board Member, Universities Allied for Essential Medicines (UAEM)
Kevin Wren: Queer Activist & Patient Advocate Chapter Leader, California #insulin4all; T1International; Queer Activist & Patient Advocate, MA Evans School of Public Policy & Governance, University of Washington
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✏️ SHOW NOTES:
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📚 Check out our Book of the Week on BOOKSHOP*: Prescription for the People: An Activist's Guide to Making Medicine Affordable for All” by Fran Quigley: https://bookshop.org/a/22992/97815017...
(*Bookshop is an online bookstore with a mission to financially support local, independent bookstores. The LF Show is an affiliate of bookshop.org and will receive a small commission if you click through and make a purchase.)
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This episode is closed captioned.
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