Posted on 01/08/2024 10:34:55 AM PST by Rev M. Bresciani
A Reuters report released just days ago uncovered that America’s leading drugmakers are raising prices yet again. Due to industry greed, the American people can expect to see more than 140 brands of drugs increase in cost over the next month.
Prior to the increase, on average, pharmaceutical costs are already higher in the United States than in any other country in the world. According to Bloomberg, the average American spends about $1,300 per year on pharmaceuticals. For a year’s supply of a newly launched drug, the costs have risen to $220,000 per year, an increase of more than 20% from 2021.
(Excerpt) Read more at new.americanprophet.org ...
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?
It used to be the drug companies-—now it’s the taxpayer and once again, wasted.
Free market ALWAYS does better.
“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’.
So basically pharmaceutical companies are nothing more than marketing companies.
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. :(
Patents not only belong to drug companies, but universities, cancer institutes, researchers - and yes, people like Anthony Fauci, his cronies and the NIH.
MIT, for example, earns >$1 billion per year on patents and IP its Profs, PhDs and students helped develop (much of this is computer and tech, but you can look up similar figures for biotech-focused universities).
I know a PhD candidate in quantum physics at MIT who, upon entering, had to sign away all IP and developments done in her research to the University.
Particularly for Pharma, this has developed into a highly lucrative, insider grift. Fed.gov/NIH/Fauci give public grant money, hold patents, drugs are developed - for which then our crony-socialist government pays through the nose for Medicaid/Medicare (same with defense)
“Who pays for the research that makes those drugs possible?”
That and patented drugs are not “free market”. They are a monopoly protected by the government.
The price of that government-created monopoly power is a regulation on the price.
Exactly.
I am 100% a free market guy.
But patented drugs are not a free market.
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.
The problem with buying from India is that there are a lot of scam companies there. If you have a recommendation for a reputable company, I'd love to hear it.
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