There are some smart ass countries, such as Greece, which have these provisions. In Greece, by law, they cannot pay more for medication than anyone else.
If Trump enacts this law this will disrupt Big Pharma like you have never seen in the past.
I am not taking sides in this argument, but it would be a direct assault to Big Pharma (Merck, Pfizer, Bristol-Myers Squibb, Gilead, Johnson & Johnson, Sandoz and many others).
Ironically, Democrats threatened to do this, however this threat materializes with Trump.
I have not spent much time looking into this particular issue.
But is it the case that various countries have laws that say that country will not pay more than x-amount for a given drug? As such, most of the development cost of drugs(those developed in USA) is footed by Americans that pay full price?
If this is so, does trumps recent action put us in line w/those other countries?
But is it the case that various countries have laws that say that country will not pay more than x-amount for a given drug? As such, most of the development cost of drugs(those developed in USA) is footed by Americans that pay full price?
Most other countries negotiate the best deal they can from pharmaceutical companies … No different than Walmart Negotiates best price from a supplier/ manufacturer/ middleman. A supplier/ manufacturer/ middleman will “lose money” Or Lower profit margin and then raise prices on others to equalize the bottom line.
If this is so, does trumps recent action put us in line w/those other countries?
Honestly, I’m note sure if we can ever really know. Due to so many moving variables …. However, when our prices go down we can call it a victory.
The demographics in America. The aging of America. Is going to smash, through sheer numbers, the entire health care field.
Is that done in the US? Or is it essentially that people pay whatever the pharma companies want to charge?
So much money is spread around I don’t think anyone even knows.
Bottom line we , America Over pays, the rest of world pays less … we subsidize the pharmaceutical trade the same way we do with the military protection of the world. And each time the middle Class tax Payer gets stuck with the bills.
Yes, there are countries that have laws that say one way or another that their socialized system will not pay more than ".. certain criteria". For example, in Greece, by law, their socialized system needs to get the best prices.
It is correct that cost of innovation is paid primarily by Americans, there are few other countries with the living standard higher than the USA that pay full price (e.g. Switzerland).
If the law is enacted keep in mind that this can only impact socialized part of US healthcare system - US army, Medicaid, Medicare, and State insurance programs. Most of the expenses are still paid by private insurance companies however inefficient they are.
Unless additional changes to the law are made, prices will go UP (!) to regular Americans, so that low-income program beneficiaries and illegal immigrants would benefit from low cost of medication.
This is a damn complicated racket. I am not sure Trump has a coherent strategy, but this looks like a precursor for socialized health care.
There are some smart ass countries, such as Greece, which have these provisions. In Greece, by law, they cannot pay more for medication than anyone else.
If Trump enacts this law this will disrupt Big Pharma like you have never seen in the past.
I am not taking sides in this argument, but it would be a direct assault to Big Pharma (Merck, Pfizer, Bristol-Myers Squibb, Gilead, Johnson & Johnson, Sandoz and many others).
Ironically, Democrats threatened to do this, however this threat materializes with Trump.
We need to see the fine print first.
I can't wait for the mental somersaults that explain why this is bad.
I can see it now...
LMFAO
Because… Trump !
I have not spent much time looking into this particular issue.
But is it the case that various countries have laws that say that country will not pay more than x-amount for a given drug? As such, most of the development cost of drugs(those developed in USA) is footed by Americans that pay full price?
If this is so, does trumps recent action put us in line w/those other countries?
Most other countries negotiate the best deal they can from pharmaceutical companies … No different than Walmart Negotiates best price from a supplier/ manufacturer/ middleman. A supplier/ manufacturer/ middleman will “lose money” Or Lower profit margin and then raise prices on others to equalize the bottom line.
Honestly, I’m note sure if we can ever really know. Due to so many moving variables …. However, when our prices go down we can call it a victory.
The demographics in America. The aging of America. Is going to smash, through sheer numbers, the entire health care field.
Is that done in the US? Or is it essentially that people pay whatever the pharma companies want to charge?
So much money is spread around I don’t think anyone even knows.
Bottom line we , America Over pays, the rest of world pays less … we subsidize the pharmaceutical trade the same way we do with the military protection of the world. And each time the middle Class tax Payer gets stuck with the bills.
I happen to have some knowledge.
Yes, there are countries that have laws that say one way or another that their socialized system will not pay more than ".. certain criteria". For example, in Greece, by law, their socialized system needs to get the best prices.
It is correct that cost of innovation is paid primarily by Americans, there are few other countries with the living standard higher than the USA that pay full price (e.g. Switzerland).
If the law is enacted keep in mind that this can only impact socialized part of US healthcare system - US army, Medicaid, Medicare, and State insurance programs. Most of the expenses are still paid by private insurance companies however inefficient they are.
Unless additional changes to the law are made, prices will go UP (!) to regular Americans, so that low-income program beneficiaries and illegal immigrants would benefit from low cost of medication.
This is a damn complicated racket. I am not sure Trump has a coherent strategy, but this looks like a precursor for socialized health care.