Every other payer gets to negotiate drug prices. Why should Medicare be the only one to get fleeced? I would think that ya’ll would be supportive of this given that it’s your tax money.
Drugs are developed at a cost. And many attempts at various treatments fail miserably, and result in money down the drain.
Government interference in drug pricing is a sure way to stifle medical R&D.
Maybe the government should take over all drug research, and as they come up with new products, then the government can sell the marketing rights to pharma companies. Then the pharmas don’t have to run the risks an costs of developing new products, and they can sell them with a profit margin set by government.
So Sept 2020- right before the election. . And still accomplished nada.
President Trump signed an executive order Sunday that he says lowers prescription drug prices “by putting America first,” but experts said the move is unlikely to have any immediate impact.
The action comes nearly two months after the president signed a different executive order with the exact same name but held it back to see if he could negotiate a better deal with drug companies. “If these talks are successful, we may not need to implement the fourth executive order, which is a very tough order for them,” Trump said at the time.
One problem with drug prices I seldom hear mentioned:
Most of the “universal care” European countries have set rates for drugs. That’s not a problem in and of itself except that it makes most drug manufacturers recoup their research costs from countries that use insurance, which in turn means if you’re in an insurance type country without insurance it can bite you.
Not sure what the official remedy is but in part it needs to be the US needs to quit footing the bill for the rest of the world, both medically and defensively.
This is true but no way the US can force other countries to do away with their price controls. So the pharma companies will just continue to ■■■■ over the American consumer.