CNBC: Trump, Pfizer announce agreement to lower Medicaid drug prices (Oh and lower prices on new drugs for medicaid and commercial patients)

Politics
1

Apparently it is a “compex” deal involbing a grandfather clause
and that precludes a simple super-celebratroy headline,

image

image
image1024×282 19.9 KB

image
image1020×451 34.2 KB

Pfizer has agreed to take measures to reduce U.S. drug prices, including selling its existing drugs to Medicaid patients at the lowest price offered in other developed nations, or what Trump calls the most-favored-nation price, according to the president. Pfizer will also guarantee the same “most-favored-nation” pricing on its new drugs for Medicare, Medicaid and commercial payers. . . .

Pfizer will also invest $70 billion to reshore domestic drug manufacturing facilities, Trump said.

1 Like
2

Pfizer will also invest $70 billion to reshore domestic drug manufacturing facilities, Trump said.

3 Likes
3

Cautiously optimistic on this. Will this pressure the other drug companies to lower their prices is the question.

1 Like
4

Hypothetically it is pretty easy to do regarding new drugs.

Right now
Europe and Asia pay (close to) the margingal cost for all drugs.
US pays marginal cost plus 100% of research and overhead.

Example:
Keytruda (a series of shots) is the closest we have ever come to curing cancer.
US cost per dose: $11,000
Europe/Asia cost: $4,000-7,000

5

In before, “NUH UH!!”

1 Like
6

Any cuts in medication prices is good news

7

I am terrible at math so this doesn’t quite compute

IMG_2464
IMG_24641206×942 162 KB

8

He can’t help it
He went to U Penn.

2 Likes
9

Same.

10

Good news

11

If this is true…not that I think you’re making it up. I dont. But if thisnis true thats big.

12

I love that this is Medicaid and not Medicare……. Dropping to European prices. Not socialism!