Or, in the case of Valeant Pharmaceuticals they just jacked the prices up after buying smaller drug companies and getting rid of all the R&D teams ... that doesn't seem to have incentivized further drug development by them, did it?

You are speaking of a specific anecdotal experience and he is talking about the industry in aggregate. Neither of you are invalidating the other's point.

The actual facts are in support of the posters point: https://www.abpi.org.uk/facts-and-figures/science-and-innova...

But your example is a real occurrence of abuse under the US system.