Who pays for the research that makes those drugs possible?
And how does the free market do that for drugs that are still under patent, with no generic alternatives?
“Due to industry greed”
Stopped right there.
When a politician rubs two brain cells together and makes a startling realization that’s obvious to us normal people, it’s a ‘revelation’.
I can buy the same Valsartan, Prednisone, Augmentin, and most other prescription medicines for less than 10% of the prices in America by purchasing them from India directly. Same stuff. Same factory. A $5,300 per month Entresto prescription can be obtained for less than $50 buying it yourself in Mumbai. Same stuff they send to the states to be packaged for a $5,250 handling fee. (And a lot of bribes to politicians to do this)
Competition in a free market only works if there is true competition people who argued for business consolations to make things more efficient forgot that once the surviving businesses become oligarchs or monopolies there is no effective completion. Everyone except the few executives and the scaled down employees lose.
.
free market should set the price of everything.
Government shouldn’t do ANYTHING but work FOR THE PEOPLE.
And yet, here we are. :(
Price controls are a disguised attack on the patents that are granted to induce the development of drugs. For those who don’t like the term-limited monopoly that has made thousands of life improving drugs available, how else could this have been done? The only drugs that government will develop are the ones that enslave us, abort us, change our sex, etc.
Fair enough. But when US consumers are getting sodomized on drug prices and other countries pay a bare fraction, will the US government impede consumers importing those same drugs?
Or does the government suddenly have a role then?
The drug companies do not want a free market.
This dude is another neoCON corporation worshipper
That would eliminate the stranglehold they have on the American people.
Gabby Johnson is right! The sheriff is getting nearer! Check tagline....
"Speaker Johnson Is Right, Free Market Should Set Drug Prices, Not Government"
The wires are crossed everywhere on this issue imo. Here's some notes.
When you have pharmacy insurance, you don't really care what the fair price is, sometimes lower than what you pay with insurance from what I hear.
Vitamin D, for example, was never patented because royalties on medical remedies were regarded as unethical at the time.
Chinese proverb: He that takes medicine and neglects to diet himself wastes the skill of the physician. (Addictive (imo), high-fructose corn syrup comes to mind.)
Beware of federal commerce-related laws that are actually based on stolen state powers.
The first step to resolve free market problems comes when Democratic and Trump-supporting patriots primary all incumbent state and federal lawmakers up for reelection in 2024, except for MTG, Gaetz & Company (and others?).
Sounds good, but the terms “free market” and “pharma industry” just don’t fit together.
It's not a free market when a pharmaceutical company holds a monopoly on a drug. Government should apply anti-trust law like Sherman antitrust to companies that hold patents that prevent generics. Since these companies hold a monopoly, their prices should be set by the government and factors like "how much R&D money and resources came from the government, government subsidized institutions or other (non-company) sources?
I am sure Johnson knows the correct things to say. That does not mean he will abide by them.
What this country needs is a Congressional leader who is strong enough to not allow Schumer to whisper in his ear. I just saw one of Schumer, with his glasses pulled down, and Johnson having their close moment.
Drug prices are set by anything but the free market.
Randomly raising the price 1000% because you can is NOT the free market.
Calling that a "free market" is absurd, but that is what Republicans in Congress are paid by drug companies to tell their voters, using a good principle to defend a bad system. The remedy is to impose tariffs on offending foreign countries and use that to compensate US drug companies and fund drug research in the US. In short, elect Trump and put him on the issue. He will make India and other countries howl -- and quickly knuckle under to his terms.