…let’s acknowledge that 80 years of experiments have spawned a wretched hive of middlemen, second-guessers, gatekeepers, bureaucratic baggage handlers—individually charming people, no doubt, but collectively a burdensome rabble the middle class can’t afford to support. The truth is they need to be downsized and streamlined, a fiendishly complex and at times painful job Washington likely is not up to.
We know who can. A group large enough and motivated enough to spurn the middlemen, inflict the needed job losses, and demand value for money: consumers. Free markets are not just the best way to impose cost efficiencies on complex supply chains, they’re the only approach that has ever worked.
Health care is literally a matter of life and death. It’s not okay for politicians to run medical experiments on us unwilling patients for decades. Nor for citizens to stand patiently by as they launch the next set on millions of vulnerable people.
Corcept Therapeutics: The Company That Perfectly Explains the Health Care Crisis
Roddy Boyd If someone wanted to use a Venn diagram to illustrate what is wrong with the U.S. health care system, picking the different sets would be easy: Price gouging, abuse of loopholes, hidden risks to patients, baffling regulatory decisions, marginal efficacies and the use of doctor payments to stimulate drug sales would be some logical choices.
And a case in point would be Corcept Therapeutics, a specialty pharmaceutical company based in Menlo Park, California, and the apparent union of all things expensive and opaque. So how did Corcept, a small company with just one drug aimed at treating a tiny population of patients with a rare pituitary disorder, wind up there?Corcept has managed to make handsome profits by quietly yet efficiently exploiting gaps in the nation’s health care regulatory framework. And its sole drug is none other than the storied mifepristone, better known as the abortion pill. While Roussel-Uclaf developed mifepristone in France in 1980, it became famous in the U.S. in 2000 when the Food and Drug Administration ruled that doctors could prescribe it to induce an abortion; it was sold as RU-486.