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Democratic mega-win - drug price negotiation results

sun rise

sun rise

The world is on fire
Premium Member
The drug companies of course hate this with a "purple passion" and the Republicans will do anything their bosses the oligarchs tell them when it comes to economics because profits are their God and Bible but this won't kill reasonable profits but the benefit to us is notable and will help millions https://www.politico.com/news/2024/08/15/cms-releases-prices-for-10-negotiated-drugs-00174021


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Subduction Zone

Subduction Zone

Veteran Member
sun rise said:
Guess who has not reported this at least yet. No need for a spoiler: Fox News
Click to expand...
FAke news! Fake news!

Okay, kidding of course. And this may be just the start. This will save both individuals and the Medicare system billons if not trillions of dollars. For far too long the US has paid far too much when it comes to prescription drugs. This is the sort of thing that should get everyone's attention since it keeps the big pharmaceutical companies from making obscene profits from the woes of others.

Yes, we need research and development of other drugs, but it appears that the pharmaceutical companies use that excuse to line their pockets. Government oversight is heavily needed when it comes to medications. Time and time again it has been shown that the pharmaceutical companies cannot police themselves.
 
The Hammer

The Hammer

Skald
Premium Member
Subduction Zone said:
FAke news! Fake news!

Okay, kidding of course. And this may be just the start. This will save both individuals and the Medicare system billons if not trillions of dollars. For far too long the US has paid far too much when it comes to prescription drugs. This is the sort of thing that should get everyone's attention since it keeps the big pharmaceutical companies from making obscene profits from the woes of others.

Yes, we need research and development of other drugs, but it appears that the pharmaceutical companies use that excuse to line their pockets. Government oversight is heavily needed when it comes to medications. Time and time again it has been shown that the pharmaceutical companies cannot police themselves.
Click to expand...

No industry or entity is capable of self policing.
 
Subduction Zone

Subduction Zone

Veteran Member
The Hammer said:
No industry or entity is capable of self policing.
Click to expand...
Maybe when they are rather small. For example when Henry Ford first started his factories his goal was to pay his employees enough so that they could afford his product. It was a win win for them. He got the best workers and they earned more money. But as a business gets larger and larger profits overwhelm ethics.

And profit can be a huge motivator, so I do not oppose that. But when one has a captive audience the government HAS to oversee pricing etc.. I am not advocating for communism by any means, but unfettered capitalism does not work either.
 
We Never Know

We Never Know

No Slack
sun rise said:
The drug companies of course hate this with a "purple passion" and the Republicans will do anything their bosses the oligarchs tell them when it comes to economics because profits are their God and Bible but this won't kill reasonable profits but the benefit to us is notable and will help millions https://www.politico.com/news/2024/08/15/cms-releases-prices-for-10-negotiated-drugs-00174021


View attachment 95734
Click to expand...

That's good but its gets old with politicians putting things off until it benefits them.
This benefits them by votes.
Dont kid yourself. If election year was three years away, so would that in the OP be three years away.

Things like this that benefit the people shouldn't be put off until election time then done to use it to get votes. Politics is bad about that.

Like no taxes on tips from Trump and Harris.
Why didnt Trump do it when he was pres?
Why doesn't Harris do it now? Why hasn't she already done it since 2021?

Its all about votes. If you vote for me I will.....
 
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Pogo

Pogo

Well-Known Member
The Hammer said:
If that's what you think it takes to make them cheaper. Me I think it just takes paying the price it actually costs to produce and distribute.

Medicine should not be for profit imo.
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It is an expensive business, I spent 7 years working to develop a cheaper process to manufacture an already approved anti-cancer drug, It is rather amazing the amount of money we spent on the process with no guarantee of any return. The question is if not for profit where do you get the money for R+D, and don't tell me the government, that is a recipe for failure?
 
The Hammer

The Hammer

Skald
Premium Member
Pogo said:
It is an expensive business, I spent 7 years working to develop a cheaper process to manufacture an already approved anti-cancer drug, It is rather amazing the amount of money we spent on the process with no guarantee of any return. The question is if not for profit where do you get the money for R+D, and don't tell me the government, that is a recipe for failure?
Click to expand...

Honestly?

We don't/can't without destroying something else and other people in the process.

It's honestly best we just let people die.

But we won't.
 
We Never Know

We Never Know

No Slack
The Hammer said:
If that's what you think it takes to make them cheaper. Me I think it just takes paying the price it actually costs to produce and distribute.

Medicine should not be for profit imo.
Click to expand...
They have to pay those CEO's.
Fyi... This guy's pay is almost $78,000 per day, all 365 days

"At the head of the pack for Big Pharma CEO pay last year was J&J’s Joaquin Duato, who saw his total pay leap a staggering 116% to $28.4 million."

www.fiercepharma.com

Big Pharma's 10 highest-paid CEOs of 2023

After a period of leadership transition for many of the world's top drugmakers in recent years, the industry's CEO pay rankings appear to be returning to a state of equilibrium. One surefire sign things are starting to balance out when it comes to C-suite compensation? The fact that a Johnson &...
www.fiercepharma.com www.fiercepharma.com
 
Subduction Zone

Subduction Zone

Veteran Member
We Never Know said:
They have to pay those CEO's.
Fyi... This guy's pay is almost $78,000 per day, all 365 days

"At the head of the pack for Big Pharma CEO pay last year was J&J’s Joaquin Duato, who saw his total pay leap a staggering 116% to $28.4 million."

www.fiercepharma.com

Big Pharma's 10 highest-paid CEOs of 2023

After a period of leadership transition for many of the world's top drugmakers in recent years, the industry's CEO pay rankings appear to be returning to a state of equilibrium. One surefire sign things are starting to balance out when it comes to C-suite compensation? The fact that a Johnson &...
www.fiercepharma.com www.fiercepharma.com
Click to expand...
Since medicine is a product needed by everyone at some time in their life perhaps we need a bit more oversight at all levels. Pay for CEO's should be based upon far more than just profit. Profit in pharmaceuticals often involves finding new uses for existing products. They can then use that as an excuse to raise the price for everyone. How that is even allowed is beyond me. Mylan used a very weak excuse for hugely boosting the price of the epipen. But they were just part of the problem. Over half of the increase came from the middlemen in the process. This is why single payer is really the only way to go. The government sets the price that pharmaceuticals can charge. They can also set a per-prescription handling fee. The work that pharmacists and others do does not increase when the cost of the products increase. But since with the current system they get to base their fees on the wholesale price of the product they actually like it when prices go up.

Obamacare was a good start but one look at what we pay and what Europeans pay for the same services tell us that your system needs a huge overhaul.


allergyasthmanetwork.org

EpiPen Pricing – More Must be Done | Allergy & Asthma Network

All need to work together to ensure these preventive life-saving medications are easily accessible and affordable.
allergyasthmanetwork.org allergyasthmanetwork.org
 
We Never Know

We Never Know

No Slack
sun rise said:
Guess who has not reported this at least yet. No need for a spoiler: Fox News
Click to expand...
Fox actually posted that it was coming 2 years ago.

"In 2024, the government will start negotiating what it will pay for 10 drugs, with the new prices taking effect in 2026. They will be chosen from among some of the 50 medicines responsible for the highest Medicare spending that have no cheaper generic or biosimilar alternatives."

The first group of medicines would include those sold mostly in pharmacies to treat diseases such as diabetes, cancer and arthritis.

The government has said it will negotiate prices on 15 drugs for 2028 and 20 for the year 2029, expanding the pool to include those administered in hospitals and by doctors, such as infusions and injectables"

How Inflation Reduction Act could affect Medicare prices | Fox News

$430 billion Inflation Reduction Act will allow the government to cap Medicare costs
www.foxnews.com www.foxnews.com
 
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