BLOOMBERG'S DRUG BUST

NY POST ^ | 10/31/03 | ROBERT M. GOLDBERG

[Tumbleweed_Connection]

MAYOR Bloomberg is eager to join the ranks of elected officials who want to save money by importing price-controlled drugs from overseas. Bloomberg News (what else?) reports that the "Department of Health and Mental Hygiene, which buys drugs for New York's jails, and its Health and Hospitals Corp., are working on ways to buy medicine from abroad." Said the mayor, "It's a great idea to use our combined economic power to get a better deal for our citizens . . . It's exactly what we should be doing."

[NYC GOP Chick]

This guy is the RainMan of politics. And I'm no longer so sure of his vaunted "business skills."

[NYC GOP Chick]

*ahem* ... Still beating yourself up for voting for this assclown? ;)

[Torie]

The US subsisization of drug research for the world must come to an end. It is not sustainable, given the huge costs involved. I salute Bloomberg for poking another hole in the dike, although I am not sure what he is doing conforms to US law.

What the US needs to do is pass a law prohibiting drug companies from selling drugs abroad (corrected for reasonable volume discounts), at prices cheaper than in the US. When that happens, drug companies will increase prices abroad, and lower them in the US to maximize profits, and still generate monies for research. (Granted, Europe will cease buying some drugs, which will degrade its health care, but life's a bitch.) The US in short, needs a most favored nation pricing policy.

On this issue, Torie has it right. Where is Bush? Does anyone have his private telephone number?

[jwalsh07]

I'm with you on the drug dumping. If they need to dump, dump them here.

I'm agin you if you support the re-importation of drugs. The possibilities there for mischievous jihadists and unscrupulous dealers are just too plentiful.

[Torie]

The beauty of the most favored nation plan is that it does not require reimportation. By the way, are you against the importation of drugs from abroad? That seems an over-reaction to a perceived threat.

[Torie]

By the way, the issue isn't dumping. The issue is price discrimination, as drug companies sell cheaper in Europe to monopsonistic (ie the government) single buyers. Using the force of law to deal with monopolies, including monopsonistic monopolies, is a legitimate public endeavor, and facilitates maximizing economic efficiency.

[Tumbleweed_Connection]

What the US needs to do is pass a law prohibiting drug companies from selling drugs abroad (corrected for reasonable volume discounts), at prices cheaper than in the US.

?

How would you feel about the government dictating your price structure, let alone if you owned a pharmaceutical company?

These companies gift huge amounts to needy countries each year, what they do with it from that point is beyond anyone's control.

Allow patients to order generics (primary product) over the internet and eliminate ALL responsibility from the states in the event of problems.

Realize the future loss of new research.

Realize higher costs for what new drugs become available.

Realize another leftist issue.

[Torie]

With all due respect, I don't think you addressed any of my economic points, but rather put your own ideological overlay on the matter. Thus, our ships pass in the night. Are you against ant-monopoly anti-trust laws by the way?

[Tumbleweed_Connection]

The states consistently export a wide variety of drugs and costs frequently change. Import costs vary. Materials costs for antibiotics... vary. Quality issues vary. There are expiration problems. And all can relate to "dumping".

It's very upsetting to pay so much for a home in America, isn't it? Maybe like scripts we could place a cap on pricing? Control method of sales? Create some kind of law to keep everything more fair?

[D-fendr]

Easy. Just create a law that says everyone gets to be a millionaire.

[jwalsh07]

You have me at a distinct disadvantage, you know of what you speak and I am macroeconomically challenged. I'll have to do some monopsonistic homework after I'm done raking the "beautiful" New England foliage.

[BlueNgold]

I'm still curious how it's possible to buy something cheaper from Europe and Canada that is manufactured right here at home ....