Despite strong Republican opposition, President Biden working to reduce drug prices

[Astrostar]

https://www.cnn.com/2023/08/29/politics/medicare-drug-price-negotiations/index.html

There are two issues involved here.

First, many Democrats are low or very low income and unable to afford the extremely high prices drug makers charge for life saving medications. These medications are necessary to their well being.

Second, the vast majority of Republicans are wealthy and have no issues paying the high prices required for their medications, and most of the elected ones depend on campaign contributions from the drug manufacturers and are loath to see those moneys reduced.

So, as usual, while President Biden works to benefit all Americans, the Republicans, as usual, are throwing up roadblocks to anything helping poorer Americans.

 

[Magnus]

The Biden administration on Tuesday announced the first 10 medicines that will be subject to price negotiations with Medicare, kicking off a landmark program that is expected to reduce the government’s drug spending but is being fought by the pharmaceutical industry in court.

The negotiation program is projected to save the government an estimated $98.5 billion over a decade. It is also expected to eventually reduce insurance premiums and out-of-pocket costs for many older Americans

Republicans in Congress opposed authorizing Medicare to negotiate prices, criticizing the move as tantamount to imposing government price controls.

Polling by KFF, a health policy research organization, has found broad, bipartisan public support for allowing Medicare to negotiate prices. In a survey late last year, 89 percent of Democrats and 77 percent of Republicans said they favored the plank of the Inflation Reduction Act that authorizes negotiations.

U.S. Announces First Drugs Picked for Medicare Price Negotiations

The price negotiation program, established by Democrats as part of the Inflation Reduction Act, is projected to save the government tens of billions of dollars in the coming years.

www.nytimes.com

Let’s Go Brandon!!!!​

 

[2aguy]

https://www.cnn.com/2023/08/29/politics/medicare-drug-price-negotiations/index.html

There are two issues involved here.

First, many Democrats are low or very low income and unable to afford the extremely high prices drug makers charge for life saving medications. These medications are necessary to their well being.

Second, the vast majority of Republicans are wealthy and have no issues paying the high prices required for their medications, and most of the elected ones depend on campaign contributions from the drug manufacturers and are loath to see those moneys reduced.

So, as usual, while President Biden works to benefit all Americans, the Republicans, as usual, are throwing up roadblocks to anything helping poorer Americans.

Moron....they aren't trying to help anyone....they want a government monopoly on drugs....so they can control who gets them.

 

[2aguy]

The Biden administration on Tuesday announced the first 10 medicines that will be subject to price negotiations with Medicare, kicking off a landmark program that is expected to reduce the government’s drug spending but is being fought by the pharmaceutical industry in court.

The negotiation program is projected to save the government an estimated $98.5 billion over a decade. It is also expected to eventually reduce insurance premiums and out-of-pocket costs for many older Americans

Republicans in Congress opposed authorizing Medicare to negotiate prices, criticizing the move as tantamount to imposing government price controls.

Polling by KFF, a health policy research organization, has found broad, bipartisan public support for allowing Medicare to negotiate prices. In a survey late last year, 89 percent of Democrats and 77 percent of Republicans said they favored the plank of the Inflation Reduction Act that authorizes negotiations.

U.S. Announces First Drugs Picked for Medicare Price Negotiations

The price negotiation program, established by Democrats as part of the Inflation Reduction Act, is projected to save the government tens of billions of dollars in the coming years.

www.nytimes.com

Let’s Go Brandon!!!!​

When the government takes over pricing.....new drugs are not created.......you short sighted, vicious children never understand what is going to happen when the government takes over....

In every other part of the economy, prices for goods and services go lower in response to increased competition.

Price controls for prescription drugs, however, would take the opposite approach, resting on the faulty assumption that quality, affordable prescription drugs can be simply mandated into existence by government fiat.

Such policies rarely work the way they’re intended.

Drug price controls result in drug shortages, lower research and development spending by pharmaceutical companies, fewer drugs reaching the market, and longer wait times for drugs that do.

How do price controls work — and what affect would they have on our ability to get the medications we need?

Drug price controls weakened Canada’s response to COVID-19​

In the first year of the pandemic, Canada managed to fully vaccinate fewer than 1 million people, a little over 2.5 percent of its population, meaning our northern neighbor had fallen far behind much of Europe and even South America.
------
Unfortunately, the drug price caps called for in the president’s “infrastructure” package would make it more difficult for these companies to bring future such medical marvels to market.

We’ve been here before. This same policy was proposed in 2019 by House lawmakers. The White House Council of Economic Advisers warned against implementing it, finding that:

• Drug price caps would cut pharmaceutical industry revenues by $500 billion to $1 trillion over a decade.
• In turn, drug companies would likely cut research and development spending by $75 billion to $200 billion during that period.
• The industry would produce as many as 100 fewer products over that period. If companies usually produce 300 products, drug caps would bring that number down to 200.
• The economic toll from such a policy would be disastrous. Americans would be less healthy, and the country would be less economically productive. The Council of Economic Advisers estimated that price controls would reduce annual economic output by $375 billion to $1 trillion, around 10 to 30 times what the policy was projected to save.

A 2021 study by University of Chicago economist Tomas Philipson warns that Congress’ latest attempt at drug price controls would essentially stop drug development altogether.

The study estimates that:

• Pharmaceutical research and development spending would decline between 29.9 percent and 60 percent (equivalent to between $952 billion and $2 trillion).
• Over the next 20 years, as many as 342 drugs would never be developed.
• A seven-year delay for approving new drug therapies.

• A loss of 331.5 million life years in the United States, a reduction in life spans about 31 times larger than the loss from COVID-19 to date.

Why drug price controls are still a bad idea - Americans for Prosperity

Drug price controls result in drug shortages, lower research and development spending, fewer drugs on the market, and longer wait times. Read more.

americansforprosperity.org

 

[Silent Warrior]

Yes, he has already tremendously reduce the price of Fentanyl by increasing the supply.

 

[Independentthinker]

https://www.cnn.com/2023/08/29/politics/medicare-drug-price-negotiations/index.html

There are two issues involved here.

First, many Democrats are low or very low income and unable to afford the extremely high prices drug makers charge for life saving medications. These medications are necessary to their well being.

Second, the vast majority of Republicans are wealthy and have no issues paying the high prices required for their medications, and most of the elected ones depend on campaign contributions from the drug manufacturers and are loath to see those moneys reduced.

So, as usual, while President Biden works to benefit all Americans, the Republicans, as usual, are throwing up roadblocks to anything helping poorer Americans.

I just love how you guys change your tune on the flip of a dime. First of all, you guys say that most Republicans are low educated buffoons who mindlessly follower their cult leader because they're too stupid to know any better and then you turn right around and call most Republicans the rich and the wealthy. Please make up your mind.

Secondly, you're a fool if you think Big Pharma won't raise their prices on all of the other thousands of meds to make up the difference for these 10 drugs. You are just low educated buffoons who follow their leader.

 

[2aguy]

I just love how you guys change your tune on the flip of a dime. First of all, you guys say that most Republicans are low educated bafoons who mindlessly follower their cult leader because they're too stupid to know any better and then you turn right around and call most Republicans the rich and the wealthy. Please make up your mind.

Secondly, you're a fool if you don't think Big Pharma won't raise their prices on all of the other thousands of meds to make up the difference for these 10 drugs. You are just low educated bafoons.

They are short sighted, vicious children........and they don't understand what they are about to do to miracle drugs in this country and the world.........if the devil exists....the democrat party is his party.

 

[jbrownson0831]

https://www.cnn.com/2023/08/29/politics/medicare-drug-price-negotiations/index.html

There are two issues involved here.

First, many Democrats are low or very low income and unable to afford the extremely high prices drug makers charge for life saving medications. These medications are necessary to their well being.

Second, the vast majority of Republicans are wealthy and have no issues paying the high prices required for their medications, and most of the elected ones depend on campaign contributions from the drug manufacturers and are loath to see those moneys reduced.

So, as usual, while President Biden works to benefit all Americans, the Republicans, as usual, are throwing up roadblocks to anything helping poorer Americans.

Joey Capone is pure evil. The only thing he has lowered is the price of the drug that is the number one cause of death in citizens from 18 to 49 by allowing fentanyl to enter the country unchecked.
You support evil itself Asssstro.

 

[martybegan]

https://www.cnn.com/2023/08/29/politics/medicare-drug-price-negotiations/index.html

There are two issues involved here.

First, many Democrats are low or very low income and unable to afford the extremely high prices drug makers charge for life saving medications. These medications are necessary to their well being.

Second, the vast majority of Republicans are wealthy and have no issues paying the high prices required for their medications, and most of the elected ones depend on campaign contributions from the drug manufacturers and are loath to see those moneys reduced.

So, as usual, while President Biden works to benefit all Americans, the Republicans, as usual, are throwing up roadblocks to anything helping poorer Americans.

That's reversed, especially for the leadership and true believers in the Democratic party.

]

 

[Independentthinker]

They are short sighted, vicious children........and they don't understand what they are about to do to miracle drugs in this country and the world.........if the devil exists....the democrat party is his party.

Obama did a similar thing with bank fees. He successfully passed a law against certain bank fees so banks just raised other fees and started new ones not subject to the law. Yes, these 10 drugs will probably cost Americans less BUT Big Pharma will just raise the prices on all of the other thousands of meds to make up the difference. And then Biden will go out on a tour telling everyone what a great job he did on lowering drug prices, even though 99% of drug prices will actually increase.

 

[marvin martian]

https://www.cnn.com/2023/08/29/politics/medicare-drug-price-negotiations/index.html

There are two issues involved here.

First, many Democrats are low or very low income and unable to afford the extremely high prices drug makers charge for life saving medications. These medications are necessary to their well being.

Second, the vast majority of Republicans are wealthy and have no issues paying the high prices required for their medications, and most of the elected ones depend on campaign contributions from the drug manufacturers and are loath to see those moneys reduced.

So, as usual, while President Biden works to benefit all Americans, the Republicans, as usual, are throwing up roadblocks to anything helping poorer Americans.

LOL! One of Biden's first acts as president was to remove the insulin price cap Trump implemented.

 

[toobfreak]

Biden working to reduce drug prices​

Basically, he is telling Big Pharma that the gov is stepping in yet again to impose caps on something which is none of their business nor right to do. So by capping prices on one medicine, Big Pharma will need to recover that cost by raising prices on others!

Just one more way of Joe Biden pulling another false move meant only to tout as an "accomplishment" to garner more votes from idiot assholes like you.

In the end, your prescription medicine costs overall will probably go UP---- the certain result of ALL government regulations; to increase cost.

 

[Tom Paine 1949]

Medicare negotiated prices are not government set price caps or price fixing. Outside of Medicare dug companies can still set exorbitant prices.

This is negotiating in the best sense, where Medicare represents a group of consumers — unlike individuals who are sick, desperate and helpless — that has purchasing power to counterbalance the monopoly power of drug companies, a monopoly power granted by state-issued “drug patents” and “exclusivity periods” to the rich and powerful drug industry.

Companies don’t and can’t just “raise the prices of other drugs” to maintain some imaginary desired fixed rate of profit. That is not how capitalism works in the real world. Competition in “other drugs,” elasticity of consumption and dozens of other real factors determine sales, prices, and distribution in various markets.

Rightwingers here are actually just apologizing for monopoly prices and profits of drug companies, excusing long-term and widespread corporate-government corruption and collusion. They are throwing up their hands to say NOTHING CAN BE DONE to fight inflation and the high cost of medical care. In fact, outside the U.S. the prices of many drugs are lower precisely because of better regulation and collective resistance to high prices.

Monopoly profits of drug companies can be driven down while entrepreneurial and scientific creativity can be maintained, and cheaper treatments for diseases can be developed in a number of different ways. The “right” here is wrong. They are mentally enslaved to a ridiculous self-serving, deformed & oversimplified ideology … pushed by drug company monopolists.

 

[Magnus]

Medicare negotiated prices are not government set price caps or price fixing. Outside of Medicare dug companies can still set exorbitant prices.

This is negotiating in the best sense, where Medicare represents a group of consumers — unlike individuals who are sick, desperate and helpless — that has purchasing power to counterbalance the monopoly power of drug companies, a monopoly power granted by state-issued “drug patents” and “exclusivity periods” to the rich and powerful drug industry.

Companies don’t and can’t just “raise the prices of other drugs” to maintain some imaginary desired fixed rate of profit. That is not how capitalism works in the real world. Competition in “other drugs,” elasticity of consumption and dozens of other real factors determine sales, prices, and distribution in various markets.

Rightwingers here are actually just apologizing for monopoly prices and profits of drug companies, excusing long-term and widespread corporate-government corruption and collusion. They are throwing up their hands to say NOTHING CAN BE DONE to fight inflation and the high cost of medical care. In fact, outside the U.S. the prices of many drugs are lower precisely because of better regulation and collective resistance to high prices.

Monopoly profits of drug companies can be driven down while entrepreneurial and scientific creativity can be maintained, and cheaper treatments for diseases can be developed in a number of different ways. The “right” here is wrong. They are mentally enslaved to a ridiculous self-serving, deformed & oversimplified ideology … pushed by drug company monopolists.

This is the problem with being cult members. Rightwingers whine high and low about the prices of everything. Yet, when a president comes along and does exactly what most people want... they immediately whine about government control.

But then, cultists will cult.

 

[Magnus]

When the government takes over pricing.....new drugs are not created.......you short sighted, vicious children never understand what is going to happen when the government takes over....

In every other part of the economy, prices for goods and services go lower in response to increased competition.

Price controls for prescription drugs, however, would take the opposite approach, resting on the faulty assumption that quality, affordable prescription drugs can be simply mandated into existence by government fiat.

Such policies rarely work the way they’re intended.

Drug price controls result in drug shortages, lower research and development spending by pharmaceutical companies, fewer drugs reaching the market, and longer wait times for drugs that do.

How do price controls work — and what affect would they have on our ability to get the medications we need?

Drug price controls weakened Canada’s response to COVID-19​

In the first year of the pandemic, Canada managed to fully vaccinate fewer than 1 million people, a little over 2.5 percent of its population, meaning our northern neighbor had fallen far behind much of Europe and even South America.
------
Unfortunately, the drug price caps called for in the president’s “infrastructure” package would make it more difficult for these companies to bring future such medical marvels to market.

We’ve been here before. This same policy was proposed in 2019 by House lawmakers. The White House Council of Economic Advisers warned against implementing it, finding that:

• Drug price caps would cut pharmaceutical industry revenues by $500 billion to $1 trillion over a decade.
• In turn, drug companies would likely cut research and development spending by $75 billion to $200 billion during that period.
• The industry would produce as many as 100 fewer products over that period. If companies usually produce 300 products, drug caps would bring that number down to 200.
• The economic toll from such a policy would be disastrous. Americans would be less healthy, and the country would be less economically productive. The Council of Economic Advisers estimated that price controls would reduce annual economic output by $375 billion to $1 trillion, around 10 to 30 times what the policy was projected to save.

A 2021 study by University of Chicago economist Tomas Philipson warns that Congress’ latest attempt at drug price controls would essentially stop drug development altogether.

The study estimates that:

• Pharmaceutical research and development spending would decline between 29.9 percent and 60 percent (equivalent to between $952 billion and $2 trillion).
• Over the next 20 years, as many as 342 drugs would never be developed.
• A seven-year delay for approving new drug therapies.

• A loss of 331.5 million life years in the United States, a reduction in life spans about 31 times larger than the loss from COVID-19 to date.

Why drug price controls are still a bad idea - Americans for Prosperity

Drug price controls result in drug shortages, lower research and development spending, fewer drugs on the market, and longer wait times. Read more.

americansforprosperity.org

This is your proof? A link from Americans for Prosperity - a right-wing site started by the Koch brothers?

Koch brothers who own a number of pharma in their portfolio?


I could counter that with a link from Mother Jones but then I would be no better than the average retards. So, instead, here is a link from WSJ:

“This is a major step toward reducing drug spending,” said Stacie Dusetzina, a health policy professor at Vanderbilt University School of Medicine who studies drug costs.

Expensive Drugs Targeted for First U.S. Price Negotiations

Lower prices would take effect in 2026 depending on the talks between the U.S. and drugmakers and the outcome of industry lawsuits.

www.wsj.com

 

[2aguy]

This is your proof? A link from Americans for Prosperity - a right-wing site started by the Koch brothers?

Koch brothers who own a number of pharma in their portfolio?


I could counter that with a link from Mother Jones but then I would be no better than the average retards. So, instead, here is a link from WSJ:

“This is a major step toward reducing drug spending,” said Stacie Dusetzina, a health policy professor at Vanderbilt University School of Medicine who studies drug costs.

Expensive Drugs Targeted for First U.S. Price Negotiations

Lower prices would take effect in 2026 depending on the talks between the U.S. and drugmakers and the outcome of industry lawsuits.

www.wsj.com

You are a short sighted, spoiled, vicious child.....you don't understand what you are doing.....you are going to allow them to destroy the miracle medicine innovations that make life better for all Americans and people around the world.

 

[Magnus]

You are a short sighted, spoiled, vicious child.....you don't understand what you are doing.....you are going to allow them to destroy the miracle medicine innovations that make life better for all Americans and people around the world.

Talking about not understanding what you are doing... got any more words of wisdom from the Koch brothers or the pharma companies?

Hey, I heard the Sackler family is looking for a new spokesperson. Maybe you could tell us how Oxycontin is very healthy for us. If the pharma companies tell you, it must be true, no?

 

[2aguy]

Talking about not understanding what you are doing... got any more words of wisdom from the Koch brothers or the pharma companies?

Hey, I heard the Sackler family is looking for a new spokesperson. Maybe you could tell us how Oxycontin is very healthy for us. If the pharma companies tell you, it must be true, no?

You have no idea what this will do....

So, what would the new regulations do? If they are implemented, according to National Review's Jeff Zymeri, drug development will drop off: "The CBO has predicted that the scheme provided for under the IRA would lead to a manufacturer-revenue loss of 15 percent. Such a cut in CBO's predicted 45 new drugs per year would suggest around 6.8 fewer drugs per year, totaling around 121 lost over the 18-year horizon, as one report estimated." The drugs most likely to disappear would be drugs that target rare conditions and thus have less of a market.
The Actual solution?
There is another solution: Force other countries to pay their fair share. This would ensure that Americans pay similar prices to those around the world, while also creating incentive for innovation. But that would require politicians to abandon their happy talk and deal in the real world. And that's not something politicians are likely to do.

The Law of Unintended Consequences Can't Be Repealed

townhall.com

 

[Silent Warrior]

You have no idea what this will do....

So, what would the new regulations do? If they are implemented, according to National Review's Jeff Zymeri, drug development will drop off: "The CBO has predicted that the scheme provided for under the IRA would lead to a manufacturer-revenue loss of 15 percent. Such a cut in CBO's predicted 45 new drugs per year would suggest around 6.8 fewer drugs per year, totaling around 121 lost over the 18-year horizon, as one report estimated." The drugs most likely to disappear would be drugs that target rare conditions and thus have less of a market.
The Actual solution?
There is another solution: Force other countries to pay their fair share. This would ensure that Americans pay similar prices to those around the world, while also creating incentive for innovation. But that would require politicians to abandon their happy talk and deal in the real world. And that's not something politicians are likely to do.

The Law of Unintended Consequences Can't Be Repealed

townhall.com

Relax. You are responding to an idiot that thinks companies should spend a couple of billion dollars developing a new drug, then give it away and make their money with volume sales. You can't fix stupid.

 

[Magnus]

You have no idea what this will do....

So, what would the new regulations do? If they are implemented, according to National Review's Jeff Zymeri, drug development will drop off: "The CBO has predicted that the scheme provided for under the IRA would lead to a manufacturer-revenue loss of 15 percent. Such a cut in CBO's predicted 45 new drugs per year would suggest around 6.8 fewer drugs per year, totaling around 121 lost over the 18-year horizon, as one report estimated." The drugs most likely to disappear would be drugs that target rare conditions and thus have less of a market.
The Actual solution?
There is another solution: Force other countries to pay their fair share. This would ensure that Americans pay similar prices to those around the world, while also creating incentive for innovation. But that would require politicians to abandon their happy talk and deal in the real world. And that's not something politicians are likely to do.

The Law of Unintended Consequences Can't Be Repealed

townhall.com

LOL Another link from a right-wing site? What happened? Couldn't find pharma companies links?

Why is this so hard for you idiots to accept? Is it because Biden is proposing it? How is this different from Trump's administration trying to lower those same prices?

I'll tell you the difference - Trump tried to negotiate but came up empty. While, as usual, Biden got the job done.

So, spare me the hand-wringing. You idiots were all for it till you found out that Biden got there first and so now, you are all against it.