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It is not a characteristic of (freemarket) capitalism in itself (like, the rest of the world make it work), but a concentration/tyrrany of powers (patents, regulation, lobbying) and a disregard of human life/health in society.
These are not factors that disappear in a socialist/comunist framework unless one is "government from the people" naive.
A "simple solution" would be to make patents on critical things to be "opensourced", licenseable in automatic to anyone interested in exchange of a % fee on sales to patent-holders, making still competitive for Original-inventors to produce things at a competive advantage while keeping prices for End-Users "honest" due to production competition