WASHINGTON (AP) — President Donald Trump on Monday signed a sweeping executive order setting a 30-day deadline for 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.
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This morning my husband picked up his monthly prescription. It's typically $47. Today it was $160. Skimming a bit before the new law goes into effect?
ReplyDeleteNow I'm wondering how much Lisa's meds are going to set us back next week.
DeleteI bet Trump’s drug executive order will get hosed by both the Democrats & Republicans because every swinging dick and puckered pussy in congress is getting Big Pharma big kickbacks
ReplyDeleteOh, you know it.
DeleteThe politicos working for Big Pharma are also part of the Uniparty, no matter what they call themselves.
DeleteRFK Jr called out many politicians during his confermation hearings about being paid off by the pharma industry.
DeleteOld asshole never had a job Bernie like to shit a brick sideways when that happened..
JD
Many years ago I had two co workers who immigrated from Greece. They would go to visit and get as many medications as they could. They said that America paid for the rest of the world to have cheap medications and that was 30 years ago!
ReplyDeleteWhen I was living in CA, everybody went to Mexico for their prescription drugs.
DeleteThis is something that not enough Americans realize. The US effectively pays for all of the R&D costs for developing medicines and the rest of the world gets a free ride by only paying for the incremental cost. Insurance hides the cost from most consumers, but they pay for it in higher insurance premiums.
DeleteBetween footing the bill for the world's defense and prescription drugs, Americans have been the world's patsies.
Poor Congress: there goes their one chance to become an oligarch.
ReplyDeleteMy generic med
ReplyDeletewas $47 dollars too.
From the perspective of free market this is wrong. From the perspective of leveling the playing field (and stop subsidizing the rest of the world) this is great.
ReplyDeleteI spent a 30 year career working in "big pharma" and the single largest thing that changed the entire healthcare industry for the worse, was allowing media advertising of prescription drugs.
Big Pharm spends more on advertising than they do on R&D.
ReplyDeleteSo, what happens after the 30 days are up?
ReplyDeleteHeltau
if you really want to reduce drug prices, reduce some of the duplicate and stupid testing drug companies have to do.
ReplyDeleteI had a brother in law that worked for one of the drug companies. they had to do clinical trials on a drug that had been in use for years in europe for males recovering from heart attacks over 50. it wouldn't work on females, and it didn't work well for young people. this had all been well established, and tested, and the drug did it's job.
he had to duplicate every clinical trial they did in europe here because the FDA doesn't accept european trials..or any other trials. this took a lot of money and about 3 years to get the drug to be concidered for use in the US, and it was eventually denied because of side effects in teen females...who were not the target patient for the drug. meanwhile you can get the drug in europe and it's saving lives over there, and the drug company spent millions to get it used here, not just the trials but they have to get full production going before it's approved...and got nothing to show for it.
Sure we all want lower prices but this is not the way to do it. This is democrat style with the stroke of a pen, not actual legislation or discussion on how it can actually be done.
ReplyDeleteDrug proces are not subject to free market forces for several reasons including heavy government regulation of the industry, the consumer is several levels of indirection from paying for the product (for a lot of Americans, insurance is -- and the employer mostly chooses that), and the consumer is not the one choosing the product (the doctor is).
DeleteIf the industry was subject to market forces, I would agree with you. They aren't.
Rand Paul was on TV last night bitching about Trump instituting price controls, like he was doing it on the whole economy.
ReplyDeleteI used to think Rand was one of the few good guys we had in the Senate. Fooled AGAIN dammit.
Nemo