Posted on 02/10/2016 4:30:11 AM PST by IBD editorial writer
Election ’16: At a rally in New Hampshire over the weekend, Donald Trump spent a good deal of time complaining about how much the government spends on drugs. Too bad his math, and his facts, were all wrong.
(Excerpt) Read more at investors.com ...
I am aware of that. If I missed clicking on the proper space, sorry, but i can assure you, there is nothing wrong with my reading comprehension.
Negotiating the best price does not equal price controls. The author may want to watch an online course on economics. And why would Congress not allow competitive bidding on drug prices for government programs? Pharmaceutical donations? The politicians get millions and the taxpayers get reamed for billions. Let the bidding begin!
“Recent pharmaceutical industry actions are going to add impetus to price controls. $84,000 for a drug treatment that costs a few hundred to make...and the company didn’t create it.
They are going to kill the golden goose.”
My opinion also. It’s bad enough when “wonder drugs” that didn’t exist 10 years ago cost more than most people make in a year (and STILL don’t cure crap, BTW), but when drugs that have been around for 30 years and are simply chemicals made in big vats (not made from recombinant DNA or unicorn hooves) prices go from $30 a month to $1000/month, something is very, very wrong and if the manufacturers don’t “fix” it, government will - with a sledgehammer.
The only ~100,000 dollar drug that I’ve ever heard of that is actually worth what it costs is the drug that cures (really cures) hepatitis C - cheaper and better than a liver transplant if taken early. It doesn’t always work - so if it came with a money-back guarantee, I’d call that a fair deal.
“Negotiating the best price does not equal price controls. The author may want to watch an online course on economics. And why would Congress not allow competitive bidding on drug prices for government programs? Pharmaceutical donations? The politicians get millions and the taxpayers get reamed for billions. Let the bidding begin!”
Things never change: Will Rodgers did say that America has the best politicians money can buy.
The old multi-billionaire capitalist is a socialist routine. Guess IB wants to follow the National Review strategy.
Pray America wakes
Trump is so smart that he can set drug prices to get us great deals once he is POTUS.
Swell Czech is yore fiend!
I would favor laws preventing the drug companies from selling drugs in the U.S. at a price higher than they would charge anywhere else in the world. Other countries would have to contribute to R&D on a par with us.
Nixon was an advocate of price controls.
It didn’t work out too well.
I don’t believe this is the way to go.
The law of unintended consequences will raise its ugly head.
Any regulations put out by the Federal Government on anything faces consequences that haven’t been thought of before.
Be careful what you wish for.
And plans/ideas from the OTHER candidates....??
No offense, having no dog in this fight (closed Primary & not (R)), but I’d rather have a ‘domestic issue’ such as this over TPP (voted for, before voted against) that quite possibly cedes American sovereignty. Which one is ‘worse’??
That statement is just bs.
My plan d went up, and the two meds I am prescribed are not longer covered.
On the other hand, that could be messing with a free market -- which usually ends up producing the opposite of what you're after.
Other countries aren't going to contribute to R&D at the same rate as the US because they simply don't have the money or the free market mechanism to do so.
As a consequence, the price of the drug could go up.
Indeed, you are so correct.
So you love the silver bullets the pharmaceutical industry can deliver from time to time but hate the profits that allows those wonder drugs to come to market?
Only one out of every five thousand NME's developed in a lab makes it to market as an approved drug. Allowing government to control prices (that's what they really mean by negotiate) will close the pipeline. We'll have cheaper drugs but no innovation. Great. The Berniesta's will tell us that government can do the work of the pharma industry, but they're too stupid to realize that countries with price controls don't innovate new drug therapies.
Great. How exactly will you make that happen? You're arguing for government price controls. How Bernista of you.
Price control countries don't innovate new drugs, but they are very good at knocking them off. Hey, why even bother to defend intellectual property when we can reverse engineer the products for less money? Just think how cheap everything will be. Once government fixes the pharmaceutical industry, we can get them to make food cheaper, cars cheaper and flat screen TV's cheaper. Life is really going to be good once we empower government to create utopia!!
He’s not advocating “controls”. He’s advocating that the fed, as a large purchaser, negotiate pricing.
That’s what countries around the world already to with pharma countries—leaving us holding the bag as the suckers paying retail.
That’s a Brooklyn accent—get with the program.
;-)
This gave me a good laugh. There is already competitive bidding on Medicate Part D by hundreds of private sector service providers. You don't like the prices they've established so you want to empower government to force them to make them lower. Using government as a cudgel to get you what you want is what conservatives do. Right.
“Trump could start wearing a faux military uniform with a bunch of ribbons and boards and fringe and his victims, er I mean his voters, would love it.
We’ve reached the Maduro, Il Duce, phase of America”
I like the way you think...Im still am amazed that people believed the idiocy about Trump standing by Carson in the debate introduction...it showed pure class for him to stand with his friend (they said)..his voters were overwhelmed by his compassion for the stupid carson (they cried)
never mind that neither one heard their names. Trump can do no wrong...pure fantasy and we called the Obama worshippers lemmings
Is it price controls when the government negotiates the price down from retail? (The government is buying thousands of units)
I don’t think so. It is called smart business. Something Donald wants to bring to US Government
The only people who don’t like this are the people stealing billions from the American Taxpayers
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.