“””I don’t believe this is true at all. There are 150+ countries that have signed onto the current international patent treaty.
Keep in mind that most of these major drug companies are enormous conglomerates that have a corporate presence all over the world.”””
You are correct.
I believe there is a simple way to fix the Big Pharma drug pricing scam.
Walgreens, CVS, Walmart and the other retail pharmacies should demand a ‘most favored nations’ clause in their contracts with Big Pharma. Under a ‘most favored nations’ clause, Big Pharma could not sell drugs to the retail pharmacists at a price higher than what they charge other countries.
don’t believe this is true at all. There are 150+ countries that have signed onto the current international patent treaty.
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Patent treaties are meaningless if governments can evade patents by price controls. Price controls are an attempt to claw-back the benefits of patents after the drug is brought to market.
There's a guy in my area who writes these great screeds about the health insurance racket in the comment section of a local news website. He comes up with all kinds of examples of how idiotic the whole system is. In one case, he cites a family member who was taking a certain prescription drug. They went to CVS or Walgreens with their insurance card, and they were told that the prescription would cost $95 under their plan -- which meant they had to pay a $40 co-pay for it. That seemed high to them, so they asked the pharmacist how much the drug would cost if they paid cash for it. The pharmacist hesitated, shrugged his shoulders, and said: "That would be $24.95."
That sounds like a business model built by someone missing at least a half-dozen chromosomes. The person who pays hundreds or thousands of dollars a month for insurance coverage with a $10,000 annual deductible pays $40 out of a $95 "cost" for a drug, while the guy who walks in off the street pays $24.95?
Under a ‘most favored nations’ clause, Big Pharma could not sell drugs to the retail pharmacists at a price higher than what they charge other countries.
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That’ll force the drug companies to RAISE prices charged to foreign consumers, or else do without the benefits of the patents that brought the drugs to market. Are American politicians and bleeding hearts ready to take the heat that they are going to get from foreigners and socialists in our media? Some of the foreign countries will surely respond by withdrawing from the patent treaty.
And how long would your little game of greenmail work? How long would pharma companies be able to match other countries' prices like that?
You don't understand the costs associated with R&D pharma, and it shows.