Expensive Prescriptions and Argentina's Default

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Since the genome was sequenced 10 years ago, personalized medicine has started to catch fire. Pharmaceutical companies are now developing drugs for so-called orphan diseases, which affect only a small sliver of the population. It sounds great, but there’s a potential problem: The cost. Some of these drugs cost a thousand dollars a pill. This week on Money Talking, regular contributors Joe Nocera of the New York Times and Rana Foroohar of Time magazine speak to guest host Heidi Moore of the Guardian about what personalized medicine means for consumers, drug companies and insurance companies. This week's episode also explores what Argentina's default means for the global economy and a set of American hedge funds that invested in the country.