"In the public interest". I'm not advocating it, just saying what the stock explanation is.
But I can think of examples that support governmental intervention. The Thalidomide story, in which a greedy drug company pressed for the right to sell a drug in the U.S. but was stonewalled by one stubborn government official. Eventually the drug was shown to create horrible birth defects in countries where it was allowed to be sold.
I'm sure there are many more examples. I'm also sure that no one will be able to write a perfectly objective assessment of the benefits and drawbacks to governmental intervention in the affairs of business.
The goverments regulation also blocks many diffrent medications for a long time that kill lots of people because they could not be sold.
Also there is the case where drugs got banned because the had bad effects on some people in some conditions, but was still fine for other people again kill or making many people worse off.
All in all goverment regulation of medicine has been horrible. Let people (adived by doctors and other organisations) decide with drugs they want.
What? I said "I can think of examples that support governmental intervention." I did not say "I have statistically analyzed governmental interventions and here are my results."
> The goverments [sic] regulation also blocks ...
Do you really not know how to spell "government"? So it seems:
> All in all goverment [sic] regulation of medicine has been horrible.
You're the one making unsupportable general claims, not me. Also, given that yours is a post about government, learn how to spell "government".
> Here is a nice interview with Marcia Angell of Harvard Medical School about big farma [sic].
But I can think of examples that support governmental intervention. The Thalidomide story, in which a greedy drug company pressed for the right to sell a drug in the U.S. but was stonewalled by one stubborn government official. Eventually the drug was shown to create horrible birth defects in countries where it was allowed to be sold.
http://en.wikipedia.org/wiki/Thalidomide#Birth_defects_crisi...
I'm sure there are many more examples. I'm also sure that no one will be able to write a perfectly objective assessment of the benefits and drawbacks to governmental intervention in the affairs of business.