Regarding the Aug. 29 editorial “The unaffordable cost of M&A-driven drug prices," goods and services in a free market are nearly always priced based on market forces—most notably a combination of value perceived and competition—not the cost of production. Gold and diamonds are found lying in the ground, as is oil. The solution to high prices is more competition, not more regulation.
Missing also from the discussion is the value delivered by drugs, which is hard to gauge and highly dependent upon whether you are receiving care or paying the bill—often different in our third-party payment system. When I was in medical school, a heart attack was treated with oxygen and morphine, both pretty cheap. Hodgkin's lymphoma was effectively a death sentence. Things sure have changed. What's that worth?