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This is a complex, multivariate system and you can find examples of both really.
The famous Daraprim & Shkreli shitstorm was caused 100% by US protectionism. While US patients were forced to pay like $750 per pill the rest of the world scratched their heads with one big WTF because the drug actually costs like $0.20 everywhere. It was nothing else that US law that made it illegal for others than Shkreli to sell it. Same for insulin.