Trump's drug pricing plan will make the rest of the world pay its fair share

[FakeNews]

Drug affordability is rightly a top concern for Americans. President Trump recently launched an unprecedented effort to fix this problem with a proposal to tackle excessively high drug prices while still preserving incentives for medical innovation, which ensures better future health.

First, the president's plan would cut domestic drug prices by dismantling the burdensome government approval and reimbursement policies that inhibit healthy competition. Second, the plan would combat foreign government policies that devalue intellectual property rights and create unfair pricing systems that force drug manufacturers to sell to foreign buyers at unreasonably low prices.

Ideally, prices should reflect the social value of treatments, regardless of who pays—patients or taxpayers. In essence, President Trump's plan would stop overpricing of drugs at home and underpricing abroad.

Government policies that restrict competition are one of the main reasons that Americans end up shouldering the burden of high drug prices. For example, the lengthy drug approval process erects large entry barriers for both brand-name drugs and their cheaper generic counterparts. FDA's work to facilitate timely generic entry is estimated to have saved Americans billions of dollars last year alone.

https://www.cnbc.com/2018/06/06/tru...ll-make-rest-of-world-pay-its-fair-share.html

 

[TeflonGuy]

It's all good until you get the bill or someone pokes an eye out.

 

[Rightguide]

https://www.cnbc.com/2018/06/06/tru...ll-make-rest-of-world-pay-its-fair-share.html

When tort liability is capped and repriced into the cost of doing business in the drug industry they will be even cheaper.

 

[ChinoMoreno]

https://www.cnbc.com/2018/06/06/tru...ll-make-rest-of-world-pay-its-fair-share.html

http://forum.literotica.com/member.php?u=3539773 lol

 

[FakeNews]

The one that got away: Obamacare and the drug industry

President Barack Obama’s landmark health care bill shook up the health care system. One key player escaped the upheaval largely unscathed: Big Pharma.

Scrounging up all the money to pay for Obamacare’s massive coverage expansion brought deep pay cuts to hospitals and health plans. And for those industries, it fundamentally changed the rules of the game.

The pharmaceutical industry, on the other hand, hasn’t much changed — except its prices are higher and there’s nothing in the health law that allows the government to push back. Prescription drugs are now the fastest growing category of medical costs. Pharma companies are charging $84,000 for a new hepatitis C cure, more than $14,000 for new cholesterol treatments. Novel cancer therapies routinely run six figures.

https://www.politico.com/story/2016/07/obamacare-prescription-drugs-pharma-225444

 

[FakeNews]

http://forum.literotica.com/member.php?u=3539773 lol

Thanks for stopping by & bumping my thread, Luke.

 

[Libsam]

It's all good until you get the bill or someone pokes an eye out.

or a natural disaster. we could have utopia if mother nature would calm the fuck down and let everyone live in peace.

 

[HisArpy]

When tort liability is capped and repriced into the cost of doing business in the drug industry they will be even cheaper.

Tort liability is what is keeping Big Pharma honest. Without it, what you get is Ford's "it's cheaper to pay them a few thousand after they die" memo in the Pinto case as a business plan.

You only need to go look at the death benefit cap in your State's Workers' Compensation law to realize how little your life is worth to big money.

 

[jp55665566]

the forces of evil(Nations and madmen) are deep into drugs of all kinds, for profit. The holy algorithm directs the institution to the fastest easiest best way to meet a profit goal; absolutely 100% irrespective of any laws or regulations. So ObamaCare or TrumpCare, I suspect the same DeepState people will manipulate to take profits. I might have been more hopeful if Marie Le Pen had won in France.

 

[Rightguide]

Tort liability is what is keeping Big Pharma honest. Without it, what you get is Ford's "it's cheaper to pay them a few thousand after they die" memo in the Pinto case as a business plan.

You only need to go look at the death benefit cap in your State's Workers' Compensation law to realize how little your life is worth to big money.

The cost of unlimited tort compensation priced into the sale price is why the cost of drugs is higher in the United States than other places served by the same manufacturers, and most of the compensation judgments got to trial attorneys not the victim. There are much more effective means of disciplining manufacturers than stealing the shareholder's equity to create a gravy train for trial lawyers.

 

[Hypoxia]

We walked to farmacias just across the border at Naco Arizona-Sonora. We bought medicinals made at the same plants as those same meds bought stateside for 1/3 to 1/10 the USA price. The druggist wrote prescriptions if needed. Border Patrol didn't care that we returned with our personal supplies. Just no more than one bottle of tequila each, duty-free.

Americans are only rich because they charge each other too much. (Swiss are rich because they charge everyone else too much.) All in USA pay the gringo tax.

 

[HisArpy]

The cost of unlimited tort compensation priced into the sale price is why the cost of drugs is higher in the United States than other places served by the same manufacturers, and most of the compensation judgments got to trial attorneys not the victim. There are much more effective means of disciplining manufacturers than stealing the shareholder's equity to create a gravy train for trial lawyers.

No.

Legal fees are a deductible business expense. (Unless you're the lawyer getting them. DAMITALL!). The company pays them out but gets an equivalent amount taken off their bottom line. Without the expense deduction, the company has to pay taxes on the money.

Can the company keep the rest of the money after it pays taxes? Yes, but then the plaintiff's show up even under Tort Reform and the Company has to pay it out anyway.

Tort Reform is not the answer to high prices. It sounds good until you actually look at the numbers. Once you do that you realize the whole thing is a false narrative.

 

[Hypoxia]

First, the president's plan would cut domestic drug prices by dismantling the burdensome government approval and reimbursement policies that inhibit healthy competition.

So don't check that drugs actually work without doing harm? Just market stuff and wait for the bodies to pile up? That will be entertaining.

Second, the plan would combat foreign government policies that devalue intellectual property rights and create unfair pricing systems that force drug manufacturers to sell to foreign buyers at unreasonably low prices.

Nobody forced various Mexican farmacias to sell us mainstream meds for a fraction of stateside prices. Maybe low overhead is the answer.

Ideally, prices should reflect the social value of treatments, regardless of who pays—patients or taxpayers. In essence, President Trump's plan would stop overpricing of drugs at home and underpricing abroad.

So gov't price-fixing is a good idea? And where abroad are drugs forcibly underpriced? Can we order online from those places?

Government policies that restrict competition are one of the main reasons that Americans end up shouldering the burden of high drug prices.

So current Congressional prohibitions against gov't negotiating for low drug prices will go away? Has anyone convinced Congress of this?

 

[Oblimo]

dismantling the burdensome government approval

FDA approval and tort liability are the only reasons Pharma and Medical Device have attempted rigorous QC in the first place. You want the FDA up Pharma’s ass. I work in the industry (Lean Sigma green belt, corp compliance law, and system architecture), so please believe me.

 

[Oblimo]

Tort Reform is not the answer to high prices. It sounds good until you actually look at the numbers. Once you do that you realize the whole thing is a false narrative.

And in case one of you nudniks feels the need to bring up the McDonalds Hot Coffee case (as pro-Tort Reform zombies always seem to do): it is not reasonably foreseeable by a customer that McDonalds would hand a customer a substance hot enough to melt flesh on contact in a flimsy disposable cup, and it is reasonably foreseeable to McDonalds that handing such a hazard to a customer could result in severe injury.

 

[Hypoxia]

Is the plan working yet? Is fentanyl any cheaper now?