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People don’t get how huge this really is. Drug prices sky rocketed after Obama Care for some reason. Even medications that use to be $10 suddenly became $70. In addition to that, the drug manufacturers have been ripping off Americans for a very long time. He is the only one that has stood up to them.
If the wikileaks search function weren't garbage I would be able to find the email to Podesta from a Pharma executive thanking him for getting assurances from Hillary that she would continue to allow them to overcharge Americans in order to make up for the losses they incur selling their drugs in third world countries.
We have been subsidizing literally the entire world for decades.
And people wonder why health care in the US is so expensive.
It is not fair to say they rip Americans off. They possess a monopoly and use that monopoly the voters gave them to charge higher prices in the US so they can undercut the competition in other countries and put them out of business. This in turn allows them to buy up companies all over the world and then produce the drug in India and China.
He's not shilling. He's clarifying that they aren't just trying to rip Americans off, they are trying to destroy ALL competition so they can rip everyone off.
If they get rid of any competition, then Europe will have no choice but to pay whatever rates the companies dictate.
You can have false competition. Basically, a number of companies, all owned by a parent through various means, giving the impression of true competition, like eyewear manufacturers.
Sorry not a shill, pointing out why we pay more. it is wrong and I love what the President just did. if you dont understand the how we got into this mess with drugs, I described what happened over the decades that made this happen. We will have it happen again if we dont get elected officials to understand that winning markets overseas by making US citizens pay 10X more is not fair to Americans.
Amen, we were being price gouged and will be again if we lose this election. The Uniparty benefits from massive corporate profits, when they can control a global price of a drug while the US sick pay for the expansion into other markets with artificially low prices subsidised by you and me.
Not to be a Debbie Downer but what's the legal situation on this?
I understand it's good optics so the normies and Medicare fuds get their gibs but htf does this pass the Contracts Clause?
I'm still waiting on the IRS to give more info regarding the Payroll Tax cut and its looking like a pyrrhic victory since we get the Medicare cut but not Social Security cut.
I'm thinking it is optics so we win in November, then real work will be done to get the feds out of healthcare and this will disappear with it. Dr. Atlas is on the team now, and he is opposed to cost controls or mandates.
I can't believe that the Social Security can stay, that is by far the biggest cut.
Might have been because Pelosi and the NYT really slammed 45 over the next week after that Payroll EO.
Paul Ryan really fucked us in 2017 when we didn't pass Medicare Reform through the R-House and it was that same issue which lost us the House in 2018. I'm guessing the plan is POTUS dangles this for more votes and hoping majority don't remember that mess.
I can't believe we're back to playing gibs with the Boomers since half of them are too dense to notice their BLM nurses killing them and their non-communicating grandkids LARPing Venezuela in the streets.
It doesn't matter. It's like when he extended the unemployment benefits. If democrats sued to stop that they'd likely win. But the optics would be killer. So they don't. Checkmate mofo.
The reason prices exploded was Obama made it punishable to not have health insurance! And health insurance screwed eveybody over by playing middle man trying to cut larger margins on grandma's health care.
If the US had affordable healthcare, the democrats would lose one of their greatest holds over voters. They love going to socialist countries and screaming, "SEE HOW AFFORDABLE THEY ARE? IT'S BECAUSE OF COMM--- I MEAN SOCIALISM!"
I'm loving every second of that. What will the Left do if their favorite socialist wastelands like Sweden have to pay the same as the US for prescription medications? Then when people say "US is the greatest country" they won't be able to go, "But, but... healthcare is unaffordable! You don't care about all the people who need medicine!"
Do you really think that Big Pharma was selling at a loss to all of these countries with their supposedly wasteful and incompetent socialized healthcare?
US doesn't pay for the rest of the world, the US working class is just getting ripped off. First US taxes pays for the development of new drugs, then the same tax payers get charged a premium by big pharma and insureance companies to buy the drugs they helped to develop.
Which is a good thing. Fewer middle men between manufacturer and consumer to drive up the prices, an open competetive market and large volume purchases will do that.
They were selling for a profit on the actual pill, but you're not considering R&D costs.
USA = big profits to cover everything
European discount countries = small extra profit, but only if you can develop (or acquire) the drugs in the first place
So yes, they make more than not selling there at all, but Americans get screwed enough to cover the initial R&D costs plus lobbying costs and a healthy profit margin.
So this should bring US costs down and force Europe costs up to match. Whether or not it will cause some minor decline in drug development is tough to say. If Biden gets in office though they'll probably find some way to get back to screwing Americans out of their money.
Yes, this would fix so much, and it is so true that no other President would do this. The US subsidizes all other nations when it comes to healthcare and drugs.
Now, I don't necessarily think prices will fall to match what's currently outside the US. The prices on the outside will probably go up as ours fall. Still a far better outcome than what we have now.
Seen this personally. But there are some things to consider:
highly paid, licensed and trained people controlled that pill from the point it arrived at the hospital pharmacy until it got in your mouth and at least 2 people made super extra sure it was safe for you. It’s not like your teenage kid went to Walgreens to snag a bottle of pills. There is a serious amount of labor costs here.
2). The health insurance company sure as hell didn’t pay them $20 for that pill. The retail charges are just a stupid high cost to start negotiating and likely still an insignificant cost in the price of your stay (though the margins are sky high). If you had to pay out of pocket, you can very easily negotiate that down to somewhere around $5 (I did).
As a non american... there is the possibility this could be quite bad for my country and others. Our drug prices are rock bottom thanks to the US - a trip to the doctor and a 3 month supply of a dozen different drugs comes to about $35US tops. My life would be very different if I had to pay America prices for my healthcare.
Having access to cheap medicine like this is fantastic for our population.. but it is not fair to expect America to foot the bill, not to mention the R&D costs that go into these drugs in the first place. This is the right thing for DJT to do; Americans deserve to benefit from the cheap drugs their money has made possible, even if that means a few countries have to pay a little more than they do now.
Maybe what could happen is the cost will be spread across all countries instead of heavily burdened on us Americans because they know our insurance will cover it.
In the end, margins could still be the same and your prices won't move, it'll incentivize drug companies to allow our drugs into their market, the more they have access to, the lower the price we all can enjoy.
I know it sucks if it goes the other way, but we've been burdened here I'm America for so long, and it's destroying us.
But I believe in Economies of scale and the free market, this let's things be more free instead of just shifting the burden on us Americans.
i suspect this encourages competition to come on line, particularly, local producers. Pharma patents are only supposed to last for a couple years, generics should be able to be produced locally. if they are not already and being sold locally through partnership with the global conglomerate...
and I'm assuming that you're not talking about "cutting edge" cancer treatments, whatever they are.
Seems like most of those cutting edge cancer drugs these days are monoclonal antibodies (drugs ending in -mab). China makes them all, of course. If they can steal our tech to make them we can certainly license that tech to the world.
I don't see why we were paying so much, volume counts for something. America is the country that uses the most types of antidepressants since November 2016 😂
This is punishment for Big Pharma holding up covid treatment to squeeze big bucks out it. And all the similar shit they've done for decades. And they know with GEOTUS, they don't want a war, political or PR.
Do you want some old guy With tons of resources to spend on bad decisions and receiving constant flirting from hot sales reps choosing your drugs for you?
This is needed. Drug companies deliberately jack up their prices in the US and then sell them far lower in other countries. We PAY outrageous prices so that the globalists can scream "WE NEED SOCIALISM TO FIX HEALTHCARE". I'm glad Trump is calling out these SOBS.
Other countries let us foot the bill for the R&D of new drugs, then they threaten to ignore patents and just backwards engineer the meds to get the pharma cops to agree to a cheap price.
We cant pay less until the other countries pay more. Then we can laugh as their “socialist” healthcare crumbles.
The do nothing democrats have been talking about this shit for the last 20 years. Trump got it done first term. Infact in Bidens speech at the DNC he talk about making medicine affordable, I was like hang on slippery, Trump already did that.
I'm so tired of hearing these big pharma commercials on the radio. They literally say in the commercials that there won't be any medical breakthroughs or developments if this is allowed. Which is total bullshit
The major problem with this is that pharma companies are only selling cheap drugs in other countries as a form of extra income. The drugs can be cheap to manufacture, so they're not losing out by selling them cheap in nations where nobody has any money compared to western nations. Pharma companies aren't pricing the drugs high to make a profit off the manufacturing process though. They're trying to cover the absolutely massive cost of researching and developing new drugs.
So this is going to cause two things to happen. One, they're going to stop selling the drugs in the cheapest countries. Making it law that they have to sell everywhere at the lowest price available means that low price goes away forever. Two, new research stops. There will be no new drugs. If a company has to spend years researching, developing and testing a new drug that costs them hundreds of millions of dollars, and there's no possibility of even breaking even, they have two choices. Go bankrupt trying or don't do it and stay in business.
I'm going to say this again. Trump needs to get better advisors for things he doesn't fully understand. Badly.
I feel zero empathy for drug companies that have been raping Americans for decades.
Companies will still do the research because there is a demand for it. Whether its bill gates or governments, companies will get the grants or contracts and do the work. They just wont get to charge americans ridiculous amounts of money per pill while charging others pennies.
People don’t get how huge this really is. Drug prices sky rocketed after Obama Care for some reason. Even medications that use to be $10 suddenly became $70. In addition to that, the drug manufacturers have been ripping off Americans for a very long time. He is the only one that has stood up to them.
If the wikileaks search function weren't garbage I would be able to find the email to Podesta from a Pharma executive thanking him for getting assurances from Hillary that she would continue to allow them to overcharge Americans in order to make up for the losses they incur selling their drugs in third world countries.
We have been subsidizing literally the entire world for decades.
And people wonder why health care in the US is so expensive.
This the email you're talking about?
https://wikileaks.org/podesta-emails/emailid/38128
You are doing the Good Work.
No, that's not the one. Thanks for looking, though.
There's one where someone working in big pharma clearly outlines that they have been overcharging Americans forever to subsidize their African sales.
That's a bit more to dig into. If I find it, I'll toss in another reply.
I remember this email. I'll try to find it
'We have been subsidizing literally the entire world for decades' while they talk shit about us, call us stupid, and blame us for everything.
It is not fair to say they rip Americans off. They possess a monopoly and use that monopoly the voters gave them to charge higher prices in the US so they can undercut the competition in other countries and put them out of business. This in turn allows them to buy up companies all over the world and then produce the drug in India and China.
He's not shilling. He's clarifying that they aren't just trying to rip Americans off, they are trying to destroy ALL competition so they can rip everyone off.
If they get rid of any competition, then Europe will have no choice but to pay whatever rates the companies dictate.
You can have false competition. Basically, a number of companies, all owned by a parent through various means, giving the impression of true competition, like eyewear manufacturers.
Sorry not a shill, pointing out why we pay more. it is wrong and I love what the President just did. if you dont understand the how we got into this mess with drugs, I described what happened over the decades that made this happen. We will have it happen again if we dont get elected officials to understand that winning markets overseas by making US citizens pay 10X more is not fair to Americans.
Amen, we were being price gouged and will be again if we lose this election. The Uniparty benefits from massive corporate profits, when they can control a global price of a drug while the US sick pay for the expansion into other markets with artificially low prices subsidised by you and me.
Not to be a Debbie Downer but what's the legal situation on this?
I understand it's good optics so the normies and Medicare fuds get their gibs but htf does this pass the Contracts Clause?
I'm still waiting on the IRS to give more info regarding the Payroll Tax cut and its looking like a pyrrhic victory since we get the Medicare cut but not Social Security cut.
I'm thinking it is optics so we win in November, then real work will be done to get the feds out of healthcare and this will disappear with it. Dr. Atlas is on the team now, and he is opposed to cost controls or mandates.
I can't believe that the Social Security can stay, that is by far the biggest cut.
Might have been because Pelosi and the NYT really slammed 45 over the next week after that Payroll EO.
Paul Ryan really fucked us in 2017 when we didn't pass Medicare Reform through the R-House and it was that same issue which lost us the House in 2018. I'm guessing the plan is POTUS dangles this for more votes and hoping majority don't remember that mess.
I can't believe we're back to playing gibs with the Boomers since half of them are too dense to notice their BLM nurses killing them and their non-communicating grandkids LARPing Venezuela in the streets.
It doesn't matter. It's like when he extended the unemployment benefits. If democrats sued to stop that they'd likely win. But the optics would be killer. So they don't. Checkmate mofo.
Trumps like, "Sue me. I dare you".
Same here.
Obamacare slapped a fat tax on all medical devices. That's every single thing you can think of that is used in the medical industry.
The reason prices exploded was Obama made it punishable to not have health insurance! And health insurance screwed eveybody over by playing middle man trying to cut larger margins on grandma's health care.
WTF I HATE CHEAP PRESCRIPTION DRUGS!!!
Actually, they probably do because they can't push for socialized medicine if prices are reasonable.
Exactly the reason
"Waiting in line for medication is a GOOD thing!"
It’s muh privilege and I am racist for doing it.
If the US had affordable healthcare, the democrats would lose one of their greatest holds over voters. They love going to socialist countries and screaming, "SEE HOW AFFORDABLE THEY ARE? IT'S BECAUSE OF COMM--- I MEAN SOCIALISM!"
I'm loving every second of that. What will the Left do if their favorite socialist wastelands like Sweden have to pay the same as the US for prescription medications? Then when people say "US is the greatest country" they won't be able to go, "But, but... healthcare is unaffordable! You don't care about all the people who need medicine!"
Do you really think that Big Pharma was selling at a loss to all of these countries with their supposedly wasteful and incompetent socialized healthcare?
US doesn't pay for the rest of the world, the US working class is just getting ripped off. First US taxes pays for the development of new drugs, then the same tax payers get charged a premium by big pharma and insureance companies to buy the drugs they helped to develop.
They weren't selling at a loss, but they weren't selling at the outrageous margins they can get here.
Which is a good thing. Fewer middle men between manufacturer and consumer to drive up the prices, an open competetive market and large volume purchases will do that.
They were selling for a profit on the actual pill, but you're not considering R&D costs.
USA = big profits to cover everything
European discount countries = small extra profit, but only if you can develop (or acquire) the drugs in the first place
So yes, they make more than not selling there at all, but Americans get screwed enough to cover the initial R&D costs plus lobbying costs and a healthy profit margin.
So this should bring US costs down and force Europe costs up to match. Whether or not it will cause some minor decline in drug development is tough to say. If Biden gets in office though they'll probably find some way to get back to screwing Americans out of their money.
Send this to everyone you know who isn’t a confirmed Trump supporter. These are issues that drive votes.
Yuge!
Yep. It really is !!
Yes, this would fix so much, and it is so true that no other President would do this. The US subsidizes all other nations when it comes to healthcare and drugs.
Now, I don't necessarily think prices will fall to match what's currently outside the US. The prices on the outside will probably go up as ours fall. Still a far better outcome than what we have now.
the national healthcare systems of other countries get bankrupted due to equalizing costs?
guess europeans weren't so smaht after all.
They will have to refactor their prices - they will still be profitable just not off the backs of Americans.
Silence in the MSM, of course. Twitter sucks ass, but at least President Trump uses it to speak directly to the people.
another great move for America!
Donald Trump loves the American Worker!!!
sneak in your own, just like at the movie theater
Seen this personally. But there are some things to consider:
2). The health insurance company sure as hell didn’t pay them $20 for that pill. The retail charges are just a stupid high cost to start negotiating and likely still an insignificant cost in the price of your stay (though the margins are sky high). If you had to pay out of pocket, you can very easily negotiate that down to somewhere around $5 (I did).
And Grover Norquist pac."Americans for Tax Reform"is running non-stop attack ads against this.
I have waited for the day we ripped that smug false argument away from them.
This could have been done decades ago
As a non american... there is the possibility this could be quite bad for my country and others. Our drug prices are rock bottom thanks to the US - a trip to the doctor and a 3 month supply of a dozen different drugs comes to about $35US tops. My life would be very different if I had to pay America prices for my healthcare.
Having access to cheap medicine like this is fantastic for our population.. but it is not fair to expect America to foot the bill, not to mention the R&D costs that go into these drugs in the first place. This is the right thing for DJT to do; Americans deserve to benefit from the cheap drugs their money has made possible, even if that means a few countries have to pay a little more than they do now.
Maybe what could happen is the cost will be spread across all countries instead of heavily burdened on us Americans because they know our insurance will cover it.
In the end, margins could still be the same and your prices won't move, it'll incentivize drug companies to allow our drugs into their market, the more they have access to, the lower the price we all can enjoy.
I know it sucks if it goes the other way, but we've been burdened here I'm America for so long, and it's destroying us.
But I believe in Economies of scale and the free market, this let's things be more free instead of just shifting the burden on us Americans.
i suspect this encourages competition to come on line, particularly, local producers. Pharma patents are only supposed to last for a couple years, generics should be able to be produced locally. if they are not already and being sold locally through partnership with the global conglomerate...
and I'm assuming that you're not talking about "cutting edge" cancer treatments, whatever they are.
Seems like most of those cutting edge cancer drugs these days are monoclonal antibodies (drugs ending in -mab). China makes them all, of course. If they can steal our tech to make them we can certainly license that tech to the world.
I don't see why we were paying so much, volume counts for something. America is the country that uses the most types of antidepressants since November 2016 😂
nice, price match guarantee!
Keep reminding the lemmings!
This is punishment for Big Pharma holding up covid treatment to squeeze big bucks out it. And all the similar shit they've done for decades. And they know with GEOTUS, they don't want a war, political or PR.
Waiting for CNN to tell me how this will kill me
Don’t put it past Fox either. They’re all in bed with Big Pharma
I love this!! In order for small business, independent contractors and those families that are barely making it, THIS is going to help, A LOT!!
OK he’s done a lot of good things but no doubt, full send, this could be the most impactful
No wonder the only commercials you see on cnn and msnbc are big pharma ads. Shouldn't your doctor be the one recommending the drug?
Do you want some old guy With tons of resources to spend on bad decisions and receiving constant flirting from hot sales reps choosing your drugs for you?
Huh? My doctor?
I noticed that. You can buy a book for $400 or get the “International Copy” for $50
This is needed. Drug companies deliberately jack up their prices in the US and then sell them far lower in other countries. We PAY outrageous prices so that the globalists can scream "WE NEED SOCIALISM TO FIX HEALTHCARE". I'm glad Trump is calling out these SOBS.
FWIW, I proposed this on T_D and on several econ blogs two years ago.
This. This. This. Donald Trump has done more for healthcare than the frikking Democrats.
The mad man went and offended Military-Industrial Complex and now Pharma Mafia. Keep him in your prayers the risk he is taking is astronomical.
Where is the news about this.
In a board room with Big Pharma executives being told this is bad mmmkay
Other countries let us foot the bill for the R&D of new drugs, then they threaten to ignore patents and just backwards engineer the meds to get the pharma cops to agree to a cheap price.
We cant pay less until the other countries pay more. Then we can laugh as their “socialist” healthcare crumbles.
Are you in the wrong post?
your estrogen pills will be cheaper, why you mad?
Big Pharma is also an "enemy of the people". Be on the look out for corrupt state-level regulations counteracting all of this.
I'm sure this will be all over the news.
The do nothing democrats have been talking about this shit for the last 20 years. Trump got it done first term. Infact in Bidens speech at the DNC he talk about making medicine affordable, I was like hang on slippery, Trump already did that.
This is why he laid low for awhile, imo.
This is something I've been demanding, almost exactly, for a while.
The US subsidizes drug research and then mud countries buy it for the cost to make it, leaving Americans to foot the billion dollar bill on R&D.
MMCA MAKE MEDICINES CHEAP AGAIN
That is sooooo amazing!! 👏👏👏🇺🇸🇺🇸🇺🇸
Perfect. That is our President, working for "We the People".
Tump 2020
Everyday Trump Makes America Better.
I'm so tired of hearing these big pharma commercials on the radio. They literally say in the commercials that there won't be any medical breakthroughs or developments if this is allowed. Which is total bullshit
The major problem with this is that pharma companies are only selling cheap drugs in other countries as a form of extra income. The drugs can be cheap to manufacture, so they're not losing out by selling them cheap in nations where nobody has any money compared to western nations. Pharma companies aren't pricing the drugs high to make a profit off the manufacturing process though. They're trying to cover the absolutely massive cost of researching and developing new drugs.
So this is going to cause two things to happen. One, they're going to stop selling the drugs in the cheapest countries. Making it law that they have to sell everywhere at the lowest price available means that low price goes away forever. Two, new research stops. There will be no new drugs. If a company has to spend years researching, developing and testing a new drug that costs them hundreds of millions of dollars, and there's no possibility of even breaking even, they have two choices. Go bankrupt trying or don't do it and stay in business.
I'm going to say this again. Trump needs to get better advisors for things he doesn't fully understand. Badly.
"If we don't pay zillions for health care then nobody will make medicine anymore!!!"
That's not true and also is stupid.
That's not even the point, so yeah it's stupid.
Good job pegging all pharma execs and companies exactly the same. Way to further the liberal class war.
I feel zero empathy for drug companies that have been raping Americans for decades.
Companies will still do the research because there is a demand for it. Whether its bill gates or governments, companies will get the grants or contracts and do the work. They just wont get to charge americans ridiculous amounts of money per pill while charging others pennies.
Oh right, cause grants from the government materialize magically from the air- oh wait, it's taxpayer money.
said the guy arguing that the government should use its power against its own people in favor of the multinational drug companies
smells like a globalist cuck arguing that his gravy train is ending
So you didn't understand anything I said. Thanks for playing.
You don't understand at all.
Boo hoo mud countries that do nothing but ruin the world can't cash in off of Americans.
So progressive.
Dr. Atlas joined after the price controls. He should help out a lot, but I'm guessing we wont see any changes until after the election.