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Big Pharma to increase US drug prices on over 200 products beginning on 01/01/2020

.Detective.

.Detective.

Member
Oct 27, 2017
9,710
NEW YORK — Drugmakers including Pfizer Inc , GlaxoSmithKline PLC and Sanofi SA are planning to hike U.S. prices on more than 200 drugs in the United States on Wednesday, according to drugmakers and data analyzed by healthcare research firm 3 Axis Advisors.

Nearly all of the price increases will be below 10%, and around half of them are in the range of 4 to 6%, said 3 Axis co-founder Eric Pachman. The median price increase is around 5%, he said.
More price increases are expected to be announced later this week, which could affect the median and range.

Soaring U.S. prescription drug prices are expected to again be a central issue in the presidential election. President Donald Trump, who made bringing them down a core pledge of his 2016 campaign, is running for re-election in 2020.

The United States, which leaves drug pricing to market competition, has higher prices than in other countries where governments directly or indirectly control the costs, making it the world's most lucrative market for manufacturers.

Trump, a Republican, has struggled to deliver on a pledge to lower drug prices before the November 2020 election. His administration recently proposed a rule to allow states to import prescription drugs from Canada.

The administration had previously scrapped an ambitious policy that would have required health insurers to pass billions of dollars in rebates they receive from drugmakers to Medicare patients.

The House of Representatives, controlled by Democrats, passed a bill earlier in December that would cap prices for the country's most expensive drugs based on international prices and penalize drugmakers that do not negotiate with the Medicare insurance program for seniors. Trump has threatened to veto the bill, saying it would undermine access to lifesaving medicines.
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The fact that those same drugs will likely continue to be sold in other countries at 1/10th the US price, is fucking insane.

 
OP
OP
.Detective.

.Detective.

Member
Oct 27, 2017
9,710
I feel like this is brought up at least a couple times a year, but could someone remind me again on what the official reasoning(or policy statement, since this is something that has been the same way for decades) in the US is to allow the fucking market to dictate drug prices, instead of federally regulating and enforcing it(as we do in Canada) to ensure people aren't dying in masses(or going broke) as a result of lack of access?

I know it's all because of greed/$$$, but what is the official spin on it they use to mask their bullshit?

And why do US citizens continue to just let it be? Wouldn't it be logical to want to pay a ton less?
 

Gpsych

Member
May 20, 2019
2,910
Shareholders demand growth. Raising prices is the easiest way to do that (also firing people). It's not just the healthcare system.
 
gdt

gdt

Member
Oct 26, 2017
9,558
.Detective. said:
I feel like this is brought up at least a couple times a year, but could someone remind me again on what the official reasoning(or policy statement, since this is something that has been the same way for decades) in the US is to allow the fucking market to dictate drug prices, instead of federally regulating and enforcing it(as we do in Canada) to ensure people aren't dying in masses(or going broke) as a result of lack of access?

I know it's all because of greed/$$$, but what is the official spin on it they use to mask their bullshit?

And why do US citizens continue to just let it be? Wouldn't it be logical to want to pay a ton less?
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innovation.
Not worth researching and creating these drugs if they can't make money off them.
Etc etc
 
molnizzle

molnizzle

Banned
Oct 25, 2017
17,695
Glass half-full take: maybe this will motivate more voters? This is a hell of a year to raise drug prices in America.
 
killerrin

killerrin

Member
Oct 25, 2017
9,250
Toronto
WereSalamander said:
Is it because all this research can't happen with drug prices at the levels reasonable countries have, or is just that it's possible but investors want that big fat profit?
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No, it can't be that. Because the majority of research is done in universities or publically funded laboratories. The only thing the companies pay for is getting it through FDA approval, and marketting. Which is expensive, but nowhere near as expensive as the research leading up to this point.
 
SugarNoodles

SugarNoodles

Member
Nov 3, 2017
8,625
Portland, OR
.Detective. said:
I feel like this is brought up at least a couple times a year, but could someone remind me again on what the official reasoning(or policy statement, since this is something that has been the same way for decades) in the US is to allow the fucking market to dictate drug prices, instead of federally regulating and enforcing it(as we do in Canada) to ensure people aren't dying in masses(or going broke) as a result of lack of access?

I know it's all because of greed/$$$, but what is the official spin on it they use to mask their bullshit?

And why do US citizens continue to just let it be? Wouldn't it be logical to want to pay a ton less?
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Probably still reaganomics
 
SuperFakerBros

SuperFakerBros

Member
Oct 26, 2017
9,835
The fact that these companies can make money hand over first for stuff that's supposed to save lives and help medical problems is fucking evil
 
Dreams-Visions

Dreams-Visions

Banned
Oct 25, 2017
41,368
Miami, FL
Aine said:
Gotta fund our freedom somehow. Gawd bless Merica.
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thanks, sick people! we couldn't do it without ya!

giphy.gif
 
danm999

danm999

Member
Oct 29, 2017
17,254
Sydney
The United States, which leaves drug pricing to market competition, has higher prices than in other countries where governments directly or indirectly control the costs, making it the world's most lucrative market for manufacturers.
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One sentence refutation of decades of economic bullshit
 
Protein

Protein

Member
Oct 27, 2017
2,034
I'd rather pay $20,000 for an emergency visit and go into debt after being hospitalized than have America become full-on Communist-Socialist and have free healthcare coverage!
 
Baji Boxer

Baji Boxer

Chicken Chaser
Member
Oct 27, 2017
11,392
People who insist this is the best system for this stuff is either an idiot or rich psychopath.
 
Tfritz

Tfritz

Member
Oct 25, 2017
13,429
User Warned: Historical Reference Implying Violence
folks we're gonna guillotine some pharmaceutical company executives
 
Heart of Poumn

Heart of Poumn

Member
Oct 25, 2017
1,355
If the US isn't going to give a fuck, at least let people buy drugs anywhere in the world. Free market, right?
 

Seeya

Banned
Oct 27, 2017
7,984
Remember when some people were saying that the Justice Dems were throwing a temper tantrum in the house for fighting Nancy Pelosi to strengthen proposed medical cost protections for citizens?

molnizzle said:
Glass half-full take: maybe this will motivate more voters? This is a hell of a year to raise drug prices in America.
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It certainly aids sanders messaging.
 
Angelus Errare

Angelus Errare

Member
Oct 25, 2017
5,588
Racoon City
.Detective. said:
I feel like this is brought up at least a couple times a year, but could someone remind me again on what the official reasoning(or policy statement, since this is something that has been the same way for decades) in the US is to allow the fucking market to dictate drug prices, instead of federally regulating and enforcing it(as we do in Canada) to ensure people aren't dying in masses(or going broke) as a result of lack of access?

I know it's all because of greed/$$$, but what is the official spin on it they use to mask their bullshit?

And why do US citizens continue to just let it be? Wouldn't it be logical to want to pay a ton less?
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Click to shrink...

Something something gubment bad, something something free market, something something handouts, something something free layborz is slav0ry
 
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