Europe, Canada and all the other single payers have price controls.
The US is subsidizing all the single payer countries.
We could go to price controls too but all the drug research would dry up. No new drug discoveries.
Price controls in the socialist single payer countries is the problem. Their prices do not cover research.
It is not expensive to manufacture a pill. The research is the real cost.
“...but all the drug research would dry up. No new drug discoveries.”
In some ways that may be good, since most health issues are created by the person themselves.
Their choices of food, drink, sleep, activity, thought/how they handle stress or any situation.
ALL of which can be adjusted by the person, not just masked by Rx/medication.
Yes there are some Rx needs but we have been conditioned to expect we will need them instead of shown alternatives.
Plus, many side effects of Rx end up being the death of people, over time.
And the government approval process!
It’s a fair point, but I don’t think they need to do any research into insulin.
You guys are paying 10x normal price for insulin. This is not because of research overhead. It’s because there’s no free market for insulin in the States.
No - it would not.
The Pharmaceutical industry spends more money on marketing and lobbying that they do on research.
Under the current system, it is more profitable to rent politicians than to invest in developing new products. That is what must change.
“It is not expensive to manufacture a pill. The research is the real cost.”
Much of that cost is regulatory requirements.
“The US is subsidizing all the single payer countries.”
The Uniparty willingly supports the gouging of US citizens in exchange for contributions.
That money is a amen from our pockets by force.
The problem is that we allow the single-payer countries to negotiate a better price with drug companies, while that doesn’t happen here. This could easily be fixed by not allowing foreigners to get a given drug for less than the price that U.S. consumers get the same drug.
The US provides about 95% of the pharmaceutical research on the planet, and we end up paying many times what foreigners do - time to stop that, time to level the playing field, time to stop subsidizing wealthy Western countries (with drugs as well as the military) - let them pay their fair share!
The US is subsidizing all the single payer countries.
Precisely.
We give government aid to the rest of the world, we subsidize their drugs, their food. The American taxpayer gets stuck with the bill in so many ways you can't keep track.
Having said that I'm sure those other countries don't have Lawyer commercials fishing for a class action lawsuit. The Big Pharm companies have to build in the cost of a probable lawsuit into their drugs.
The cost of research is not the real cost, navigating through the bureaucratic nightmare of the FDA is. It costs anywhere from $1 billion to $5 billion to get a major drug approved, and only 1 in 3 makes it. The other major cost is when lawyers sue for side effects “caused by the drug”. No drug is side effect free. Thanks to the “I won the lottery”attitude of plaintiffs, somebody has to pay the cost.
Thank you! This truth does not get stated often enough.
We are subsidizing the price controls imposed by other countries.
For many of our drugs there is no good reason why they cannot be over the counter. Nobody is going to abuse insulin.
The drug companies could double their R&D budgets with what they spend on advertising alone.
We're being scammed by everyone in the supply chain except the doctors and pharmacists- the drug companies, their reps, the insurance companies, etc.
My wife needed a prescription refill in Europe and it was the same situation: $80-$90 a bottle here, paid 8 Euros for the same medicine in Athens. I have a friend who has dual citizenship in Europe-- his general rule of thumb is that the same medicine or medical procedure here is available for about 1/10 the cost in Europe.
If you use a hospital pharmacy, you're being robbed even more as they mark everything up 2 to 3 times the already outrageous price in a regular pharmacy.
In any other industry, they would be indicted for fraud.
If I get in an accident with my car, I get an estimate and I know right away how much my insurance will pay and how much I will be out of pocket. If I go to a hospital in the US, I never know whether I'll leave bankrupt, even with $1200 a month medical insurance.
Trump is right when he pushes for a national insurance pool like Germany's. But if we have a national insurance pool like Germany's (with a reformed disability insurance system like theirs), we don't need malpractice lawsuits, because there's no social utility in it. If you're injured by a medical procedure, you're still covered. If the procedure is genuine malpractice (as found be a medical review board), then the practitioner needs to have their license or privileges yanked. And we don't need to pay some land shark 33% of the disability and medical payments.
the illegals come here to the US because we've subsidized all their health care already and all their social security demands and we wonder why they come here....its FREE to them....
insulin is cheap in Europe because we've already PAID for it here...
IOWS, we have been shafted not once, but twice....we paid for the infrastructure and now we pay the most for what that infrastructure produces...
ain't life grand?