Robin Feldman on Drugs, Money, and Secret Handshakes

Robin Feldman talks about her book Drugs, Money, and Secret Handshakes with host Russ Roberts. She argues that the legal and regulatory environment for drug companies encourages them to seek drugs that extend their monopoly often with insufficient benefit for consumers. The prices for those drugs are then protected from new competition via the patent system. She also argues that the pharmacy benefit management system allows drug companies to exploit consumers. The conversation concludes with a discussion of what can be done to improve the situation.