This is getting really scary and I hope someone on the GOP side does something positive for America? (1 Viewer)

[bongsaway]

Fails Basic Math Problem in His Own Drug Prices Executive Order​

Trump Fails Basic Math Problem in His Own Drug Prices Executive Order

Donald Trump made some wild claims about how much he’s about to bring down drug costs.

www.yahoo.com

This is bad, I'll eve go as far as to say it's delusional and I have to ask again, why do people accept this insanity as if it's sane and normal?

 

[Lursa]

Fails Basic Math Problem in His Own Drug Prices Executive Order​

Trump Fails Basic Math Problem in His Own Drug Prices Executive Order

Donald Trump made some wild claims about how much he’s about to bring down drug costs.

www.yahoo.com

This is bad, I'll eve go as far as to say it's delusional and I have to ask again, why do people accept this insanity as if it's sane and normal?

The subjects do not question the king. Esp those in his "court" who relish and benefit from his largesse.

 

[Loulit01]

Trump is correct. Math is wrong. Trump will issue an executive order correcting math.

 

[SkyChief]

Trump's math is a bit wonky, but his plan to bring down the cost of pharmaceuticals is sound.

Americans have always paid artificially high prices for drugs in order to subsidize lower drug prices to other countries, but Trump will ask drugmakers to electively lower the cost of prescription drugs in the U.S. or face new limits down the road over what the government will pay.

 

[bongsaway]

Trump's math is a bit wonky, but his plan to bring down the cost of pharmaceuticals is sound.

Americans have always paid artificially high prices for drugs in order to subsidize lower drug prices to other countries, but Trump will ask drugmakers to electively lower the cost of prescription drugs in the U.S. or face new limits down the road over what the government will pay.

Funny how in so many words some folks on the right are admitting there is indeed gouging in American industry. Why are eggs still so expensive?

 

[SkyChief]

. . . Why are eggs still so expensive?

Huh? Eggs are cheap.

Under $5/dozen in our local store.

Anyways, Trump's plan to lower drugs prices is an excellent idea. Hopefully, drugmaker's will charge other countries higher prices, and they can then pass the savings onto American consumers.

 

[Allan]

Trump is correct. Math is wrong. Trump will issue an executive order correcting math.

Once he gets the sharpie out math won't know what hit it.

 

[Allan]

Huh? Eggs are cheap.

Under $4/dozen in our local store.

Eggs were $6.22 last week, one cent less than their all time high.

 

[Demon]

Eggs were $6.22 last week, one cent less than their all time high.

See? Prices are coming down.

 

[bongsaway]

Huh? Eggs are cheap.

Under $5/dozen in our local store.

Anyways, Trump's plan to lower drugs prices is an excellent idea. Hopefully, drugmaker's will charge other countries higher prices, and they can then pass the savings onto American consumers.

That's a nice pipe dream, enjoy.

 

[Queen Margo]

Funny how in so many words some folks on the right are admitting there is indeed gouging in American industry. Why are eggs still so expensive?

Start a thread about eggs, this thread is about drug prices

 

[Mr Person]

Trump's math is a bit wonky, but his plan to bring down the cost of pharmaceuticals is sound. <>

He doesn't know what the **** he's talking about but it's brilliant, eh?

I'd choke to death on laughter if I lived in another country

 

[Allan]

Hopefully, drugmaker's will charge other countries higher prices, and they can then pass the savings onto American consumers.

To understand why that's not going to happen you have to know how most countries with UHC operate.

The Government of Canada negotiates contract prices for the entire country. Also the larger provinces negotiate additional volume discounts.

The numbers give the government enormous clout at the table.

In America pharmaceutical companies bully their customers, in Canada it's the reverse.

And they can't make political donations so the government acts in the best interests of the customer (themselves) rather than the drug company.

 

[Cosmo]

Funny how in so many words some folks on the right are admitting there is indeed gouging in American industry. Why are eggs still so expensive?

Because eggs are made out of drugs?

 

[Lord Tammerlain]

Because eggs are made out of drugs?

Hormones added to the chickens

 

[SkyChief]

He doesn't know what the **** he's talking about but it's brilliant, eh?

I'd choke to death on laughter if I lived in another country

Trumps's plan is to get Europeans to pay (close to) the same price as Americans. Right now, the drugmakers charge Americans a high premium for their drugs, and Trump wants that to end. (As do most Americans who must pay the premium)

“We’re going to equalize. We’re all going to pay the same. We’re going to pay what Europe pays.” - Trump

“I agree with President Trump: It is an outrage that the American people pay, by far, the highest prices in the world for prescription drugs. But let’s be clear: The problem is not that the price of prescription drugs is too low in Europe and Canada. The problem is that the extraordinarily greedy pharmaceutical industry made over $100 billion in profits last year by ripping off the American people.” - Senator Bernie Sanders

Earlier today, Trump signed an executive order that sets a 30-day deadline for drug manufacturers to lower their costs for prescription drugs in the US or face new caps on what the government will pay. This gives drugmakers an incentive to lower drug prices to Americans slightly, and raise prices to Europeans slightly.

The Drug makers have no reason not to do what Trump asks. They lose nothing.

 

[dseag2]

Drug prices in general will never come down until there is a centralized entity that barters with Big Pharma and lobbyists from Big Pharma are not so prevalent in politics. Trump's EO sounds good but it is only meant to make him look like he cares about older Americans. I will be pleasantly surprised if this happens.

 

[Threegoofs]

Trumps's plan is to get Europeans to pay (close to) the same price as Americans. Right now, the drugmakers charge Americans a high premium for their drugs, and Trump wants that to end. (As do most Americans who must pay the premium)

“We’re going to equalize. We’re all going to pay the same. We’re going to pay what Europe pays.” - Trump

“I agree with President Trump: It is an outrage that the American people pay, by far, the highest prices in the world for prescription drugs. But let’s be clear: The problem is not that the price of prescription drugs is too low in Europe and Canada. The problem is that the extraordinarily greedy pharmaceutical industry made over $100 billion in profits last year by ripping off the American people.” - Senator Bernie Sanders

Earlier today, Trump signed an executive order that sets a 30-day deadline for drug manufacturers to lower their costs for prescription drugs in the US or face new caps on what the government will pay. This gives drugmakers an incentive to lower drug prices to Americans slightly, and raise prices to Europeans slightly.

The Drug makers have no reason not to do what Trump asks. They lose nothing.

It’s freaking stupid.

If forced to make the US pay the lowest price, drug manufacturers will raise prices in every other nation.

It’s the only thing that makes sense from a business perspective- the US market is most of the profit of pharma.

 

[Allan]

If forced to make the US pay the lowest price, drug manufacturers will raise prices in every other nation

Or maybe they'll just stop gouging Americans.

 

[Threegoofs]

Or maybe they'll just stop gouging Americans.

There’s no gouging.

No one is forced to buy new drugs, there are plenty of generic ones.

Want the latest ones? Somebody’s got to shoulder the research costs. Canadians currently get a cheap ride because the US public does the heavy lifting.

 

[Allan]

There’s no gouging.

Yeah, there's gouging. That's why you pay orders of magnitude more for insulin.

No one is forced to buy new drugs, there are plenty of generic ones.

New drugs are patent protected for a period of time. In the US and Canada it's 20 years. This might not be your subject since you didn't know that.

Want the latest ones? Somebody’s got to shoulder the research costs. Canadians currently get a cheap ride because the US public does the heavy lifting.

Bullshit. Drug companies are profitable here.

 

[Threegoofs]

Yeah, there's gouging. That's why you pay orders of magnitude more for insulin.

Gouging is the practice of paying more when there’s a shortage. That’s not happening.

The prices are also secret. The rebate system with PBMs is insane, and very few people pay full price.

New drugs are patent protected for a period of time. In the US and Canada it's 20 years. This might not be your subject since you didn't know that.

20 years from the filing of the patent. That’s not 20 years of marketing. But then again, there’s lots of patents…. It’s extremely complicated.

Generally, it ends up being about 10-15 years on market, however biologics can be much longer, but that is getting fixed.

It’s also an area I know quite well, but you probably know that.

Bullshit. Drug companies are profitable here.

They’re profitable, but nowhere near as profitable as the US. It’s probably about 75% of profits.

Trump wants to make the US to pay less than the rest of the world. But he’s not calling for price controls, just having the lowest prices.

So if push comes to shove, Canada will be paying US prices, not the other way around. And if they can’t sell in Canada and the rest of the world, they lose 25% of profits. But if they cut US prices by 50%, they lose 37% of profits.

That’s fixable, of course, but not the way Trump is trying to do it.

 

[daeler]

The drug prices are a huge problem, I am not sure if Trump will actually do what he says, hard to tell what he is saying actually, but the drug prices in America should be the same as they are in Europe and Canada. Insulin is finally affordable thanks to Biden, we need to get the epi pen back to being affordable as well as a lot of other drugs.

 

[Airyaman]

Trump's math is a bit wonky, but his plan to bring down the cost of pharmaceuticals is sound.

What is his plan, wave his magic scepter?

Americans have always paid artificially high prices for drugs in order to subsidize lower drug prices to other countries, but Trump will ask drugmakers to electively lower the cost of prescription drugs in the U.S. or face new limits down the road over what the government will pay.

So no negotiations, just change prices by fiat? You really do believe he is a king.

 

[j brown's body]

It’s freaking stupid.

If forced to make the US pay the lowest price, drug manufacturers will raise prices in every other nation.

It’s the only thing that makes sense from a business perspective- the US market is most of the profit of pharma.

I suspect Trump would be fine with Europe paying more for drugs. As we all know, his commitment to fairness is unwavering.