“The left, of course, has its own fantasy solution set: drugs should be both innovative and cheap. But clinical trials for a single successful drug cost $500 million, and not because the labs have outrageous administrative overhead. Even if the government were in charge of running them, they would still be on the hook for that $500 million, which would have to come out of taxes. We can get existing drugs on the cheap by essentially stealing the property of shareholders in drug firms, who risked a lot of money on drugs that they reasonably expected to be profitable under existing laws. But that’s a one-trick pony. We cannot get new drugs at bargain basement prices.” (01/30/08)