Who wants to pay for expensive drugs? No one, including Joe Biden, Donald Trump, Ron DeSantis and Bernie Sanders, wants Americans to pay for costly drugs. Mr. Trump has advocated policies to lower drug prices. Gov. DeSantis wants Floridians to be able to buy drugs from Canada. Sen. Sanders wants to subpoena the CEOs of drugmakers that have challenged the Inflation Reduction Act’s price “negotiations.” President Biden signed the act.
Who wants drugs that will save lives? Everyone we know.
For Americans, paying for the discovery and development of new drugs rests on our shoulders. If we pay, we get new lifesaving medicines. If we don’t, we don’t.Almost all new drugs are developed for the U.S. market, no matter where the company’s headquarters are. Why? America is a large, rich country with an advanced medical system. America’s gross domestic product per capita is 65% higher than Britain’s, 57% higher than Germany’s and 87% higher than France’s.
There are four Americans for every German and nine Americans for every Canadian. We have many wealthy people. The Food and Drug Administration, which moves slowly, is still often faster at approving new drugs than regulatory bodies in other countries.
While far from a free market, our medical system is freer than in many other nations. Countries with single-payer systems often take one to two years to negotiate the price of a new drug. If a patent is granted for 20 years but the first 13 years are dedicated to development and approval, then only seven years of patent-protected… Read more
@SuperiorWeaverGreen4mos4MO
Ozempic and Wegovy, probably the two hottest drugs in America right now, were created by a Danish company.
I'm going to guess that they have a national health care system and much lower health care costs...like the rest of Europe.
Meanwhile, the homeless situation is getting worse by the day in this country, and income equality is out of control. The CEO of United Healthcare makes $50 million a year, while I pay nearly $20000 annually for my wife and mine insurance...and if I ever need it, I'll be out of pocket another $10K plus.
@RightW1ngOliviaSocialist4mos4MO
"The U.S. list price for Wegovy, for example, was $1,349, while it was just $328 in the Netherlands and $296 in Sweden. A one-month supply of Ozempic has a list price of $936 in the U.S., according to the report, while it cost just $83 in France and $87 in Australia."
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That US government that wants price controls is $34 trillion in debt through mismanagement. Pharma is profitable and its pills kept me alive. Thanks Pharma.
@F3deralistLolliesDemocrat4mos4MO
A better solution for drug pricing would be for the USA to pass a law that stipulates "If a firm wants to sell a pharmaceutical in the USA, they must price it the same in every country worldwide". Everyone would therefore pay for the development costs. All pharmaceutical companies would comply given that the USA is the world's largest drug market.
@ISIDEWITH4mos4MO
@ISIDEWITH4mos4MO
@GrassrootsCicadaRepublican4mos4MO
This is one of those hard and unfortunate truths that people don’t like to hear. Which is why politicians can’t handle it. They want bumper sticker solutions to complex problems, and they’re deathly allergic to the truth (isn’t there a drug for that?).
That said, I think we have a drastically over-medicated population and I’m no fan of Big Pharma. How about as a first step in reducing prices we prohibit drug companies from lobbying politicians and advertising on TV? That should save everyone a bundle without any change in R&D spending.
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