Pharmaceuticals / Health Products Recipients
See aggregated party breakdowns and incumbency status of recipients of contributions from Pharmaceuticals / Health Products industries/interest groups for every election cycle from 1998 to 2024.
The problem with price controls is that they put a negative pressure on supply and a disincentive on investment. In this example, why would anyone put up the billions of dollars necessary to create and manufacture a new pharmaceutical with full knowledge they could never charge a high enough price to recoup their costs?Really?
The government negotiated the price of drugs with drug companies for decades before the bush boy and republicans made it illegal in 2005 with their so called "drug benefit" for medicare.
The government still negotiates prices for drugs for the VA.
Where is the disaster at the VA? Where was the disaster with medicare?
Your post just isn't true which is why you didn't put up any proof of your claim.
This is untrue.Our tax dollars pays for a large portion of the cost to develop drugs.
It's through block grants.
So we pay for the development of the drugs then we pay the highest prices to actually use the drugs we paid the cost to develop.
We can all thank Reagan for deregulating it all in the 80s.
Then we can thank the bush boy for making it illegal for the government to negotiate lower prices to use those drugs we paid to create.
It's all a huge rip off.
Pharmaceuticals / Health Products Recipients
See aggregated party breakdowns and incumbency status of recipients of contributions from Pharmaceuticals / Health Products industries/interest groups for every election cycle from 1998 to 2024.www.opensecrets.org
View attachment 67374008
Medicare never paid for outpatient drugs before 2006.What you posted didn't happen and isn't still happening.
The government negotiated lower drug prices for medicare for decades until the bush boy and republicans made it illegal in 2005.
The government still negotiates lower drug prices for the VA.
There has not been any shortages of medications in that time.
What you posted is a very old and tired untruth.
Those of us who were around before the bush boy and republicans made negotiating lower drug prices for medicare illegal, knows that what you posted didn't happen in those decades with medicare and isn't happening now with the VA.
It's also not happening in the nations that do negotiate drug prices.
Intelligent people are getting so tired of the lies.
The problem with price controls is that they put a negative pressure on supply and a disincentive on investment. In this example, why would anyone put up the billions of dollars necessary to create and manufacture a new pharmaceutical with full knowledge they could never charge a high enough price to recoup their costs?
Republicans have no interest in the government being seen as effective at cutting drug prices, because their main unifying goal is doing everything in their power to make people think the government is corrupt, ineffective, and doesn't care about them.
Sure. Capitalism is good.Maybe we need a government pharma? As someone said in the other thread, pharmas don't so much invent drugs as buy out the small companies which do. From there on it's just testing and marketing (and I suppose sometimes write-offs if a drug fails testing) which a government agency could do just fine.
Why?Price controls cause shortages
Should the government be allowed to negotiate drug prices for Medicare patients, as Bernie Sanders' bill and Democrats say, or have to pay full price, as Republicans say?
GOP Blocks Sanders Effort to Force Vote on Slashing Drug Prices | Common Dreams
"How many people need to die, how many people need to get unnecessarily sicker, before Congress is prepared to take on the greed of the prescription drug industry?" asked Sen. Bernie Sanders.www.commondreams.org
Should the government be allowed to negotiate drug prices for Medicare patients, as Bernie Sanders' bill and Democrats say, or have to pay full price, as Republicans say?
GOP Blocks Sanders Effort to Force Vote on Slashing Drug Prices | Common Dreams
"How many people need to die, how many people need to get unnecessarily sicker, before Congress is prepared to take on the greed of the prescription drug industry?" asked Sen. Bernie Sanders.www.commondreams.org
Doesn't it make a little more sense to get rid of the patent protections which allows monopoly pricing in the first place?
Although the reasons for price controls may be affordability and economic stability, they may have the opposite effect. Over the long term, price controls have been known to lead to problems such as shortages, rationing, deterioration of product quality, and illegal markets that arise to supply the price-controlled goods through unofficial channels. Producers may experience losses, especially if prices are set too low. This can often lead to a drop in the quality of available goods and services.Why?
"May", "might", "could".Although the reasons for price controls may be affordability and economic stability, they may have the opposite effect. Over the long term, price controls have been known to lead to problems such as shortages, rationing, deterioration of product quality, and illegal markets that arise to supply the price-controlled goods through unofficial channels. Producers may experience losses, especially if prices are set too low. This can often lead to a drop in the quality of available goods and services.
Understanding Price Controls: Types, Examples, Benefits, and Drawbacks
Discover how price controls impact the economy, including types, examples, and the pros and cons of government-mandated price floors and ceilings.www.investopedia.com
I could've sworn reading somewhere that Cory "I am Spartacus" Booker (Corny Bonkers) was in Big Pharma's pocket.Pharmaceuticals / Health Products Recipients
See aggregated party breakdowns and incumbency status of recipients of contributions from Pharmaceuticals / Health Products industries/interest groups for every election cycle from 1998 to 2024.www.opensecrets.org
View attachment 67374008
How about this: Don't like their prices, buy from someone else.
What makes you think any drug company would bother spending billions on R&D and clinical trials if all their investment could be taken from them instantly the minute they release a successful drug?
This is a trade off. The US market props up the entire worldwide pharma industry. Most of the revenue generated from pharma comes from one country- the USA.
Without this market, pharma would be much less profitable, and the innovation we have seen in the industry over the last couple decades would absolutely suffer. Risk taking is inherent in drug development, and when you have less reward, you simply don’t take risks.
You really, really, REALLY want innovation in pharma. It’s literally keeping many of us alive. Look at the mRNA vaccines for a recent example, and look at statins as an old one.
Thirty years after the first statin was out, we now basically have millions of people on this incredibly cheap drug that noticeably has reduced cardiovascular death and complications all over the world. None of that would have happened without the huge investment into clinical trials over the last few decades to expand their use and understand their impact. The dollars for those risky studies came from US spending on the drug and the knowledge that the US would spend even more if we showed the drug works in specific areas of disease.
The pricing in the US is the result of a simply insane system. Insurance companies, PBMs, government run programs all combine to make high prices to the consumer a thing, because no one actually pays full price for any drug out there, except for some unfortunate patients.
The weird ‘coupon’ system that exists, and odd generic pricing and restriction on your pharmacist being able to tell you cash price is lower than an insurance copay are all symptoms of the mess.
Removing patent protection would be a potential disaster, Allowing Medicare negotiation would reduce revenue to the companies. That’s fine, but realize the consequences. The cost of that is innovation. And if we’ve seen anything over the last 20 years, it’s that the current system is ridiculously innovative.
I am for total government controlled healthcare. Period.
Citizens should pay NOTHING for ANY healthcare.
Sure. Capitalism is good.
Unregulated capitalism isn't. It's just greed.
I would actually prefer it not be government run, but some regulation is required. We cannot have people dying to support drug company profits.I'm not committed to a government pharma, it's just a possibility. It wouldn't attempt monopoly, but it would serve as a 'sensor' for government about what the real costs and profits in the industry are.
You've talked yourself right into the conundrum.
We give them a monopoly, which then precludes the normal method for controlling price increases (buying from a competitor). Hence the call for the monopoly-granter to put some guardrails on pricing to prevent abuse.How do you figure? Good things come to those who wait.
Total health care spending in the U.S. in 2020 was 4.1 trillion dollars. The American people pay for that. Even with universal health care the American people will still pay for it. It may come out of a different pocket but we are still paying.
Can we reduce that amount. I think so once the profit takers are out of the picture and the billing/accounting nightmare is streamlined.
Most of the developed world has as good or better health care with half of what we spend.
We can do better.
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