I'll bet MAGAs hate Medicare drug price negotiations...
- Thread starter Joes Place
- Start date
So much winning that it's exhausting.
Meanwhile...91 indictments.
Meanwhile...91 indictments.
In before Trump supporters try to Jedi mind trick us into thinking this is a bad thing.
MAGAs are gonna MAGAsplain to us how overpaying for drugs so the rest of the world can have super cheap prices makes America First, because then all those other countries are beholden to us for the cheap drug deals they get....
i suspect most people like it of all stripes. But the reality of it is (i) it's not actually targeting 'high priced drugs' as much as it's targeting 'high volume drugs' and (ii) it has and will have negative effects on innovation.
the funny thing is, the best part of the ira for consumers, which went into effect on 1/1 but nobody's talking about much, was the medicare d benefit reforms, which cap out of pockets significantly. Again though, over the next year or two, what consumers will see (because i see it already in the background contracts being negotiated) is that coverage for specialty meds is about to get a lot more limited since plans aren't that interested in taking high cost drug spend risk. And, of course, next year's premiums..
the funny thing is, the best part of the ira for consumers, which went into effect on 1/1 but nobody's talking about much, was the medicare d benefit reforms, which cap out of pockets significantly. Again though, over the next year or two, what consumers will see (because i see it already in the background contracts being negotiated) is that coverage for specialty meds is about to get a lot more limited since plans aren't that interested in taking high cost drug spend risk. And, of course, next year's premiums..
Not really
Drug companies will adjust.
They annually spend FAR MORE on marketing and advertising than they do on R&D.
The tax structure needs to change for them, to incentivize the R&D spend, and not provide them a penny in operational deductions for marketing and sales.
sure, i'm sure adjustments will be made but the net innovation effect will be negative. Shortening a product's commercial life cycle pricing flexibility is awfully hard math to imagine your way out of, and simply pricing high in the viability period is not as easy as it sounds given parallel incentives of plans to limit expensive product coverage
It's actually quite easy.
Negotiate higher prices with Canada and Europe so US consumers aren't gouged so badly.
That's exactly what will happen. Pharm isn't going to lose anything. They will bump up prices abroad to account for the decrease in USA.
This... No reason for there to be a huge disparity. The party that doesn't want us to support the world is the party letting us support the world's low drug prices at our expense.
We need to go back to making it illegal to advertise prescription drugs directly to patients.
And I'm fine with that.
Americans can have the profit 'burdens' spread to everyone, equally.
Just make it so that every dollar you spend on those direct-marketing schemes remove the "business costs deductions" from your business taxes. And every dollar you spend on development/testing gets a 2x deduction.
Companies will adjust to the tax burdens accordingly.
Innovation like evergreening? Making minor changes that have no impact on efficacy but extend the patent to maintain a monopoly? That innovation?
Drug patents: the evergreening problem - PMC
www.ncbi.nlm.nih.gov
Ehh I don't think we should let them advertise prescription drugs to people anyways. But I'm down for giving a 2x tax deduction for R&D research. Although I think we may want to cap it and also perhaps have some sort of results required too.
EVERY SINGLE REPUBLICAN in Congress voted against the bill giving MediCare the power to negotiate drug prices.
The legislation was overwhelmingly popular. 78% of the public approved the legislation (including 66% of Republicans) yet not one GOP rep voted in favor of the measure.
Republicans teamed up with pharmaceutical companies to defeat MediCare negotiation authority. Thank god they failed.
The legislation was overwhelmingly popular. 78% of the public approved the legislation (including 66% of Republicans) yet not one GOP rep voted in favor of the measure.
Republicans teamed up with pharmaceutical companies to defeat MediCare negotiation authority. Thank god they failed.
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Along with the CHIPS and Science Act and the infrastructure bill, this initiative is one of Biden’s signature accomplishments. Biden has a strong record to run on.
i doubt that will make up the gap, inasmuch as those countries have much more experience simply not covering meds than we do, so asking for more is something of an oliver twist exercise.
No, not just evergreening. But, i would note that what may sound like minor changes are not always that.Innovation like evergreening? Making minor changes that have no impact on efficacy but extend the patent to maintain a monopoly? That innovation?
Drug patents: the evergreening problem - PMC
For those keeping score, the administration prevailed in the PhRMA/NICA suit on drug price negotiations in WD Tex on the ground that NICA lacked standing (as it's not a manufacturer organization) and there was no other plaintiff resident within the district to provide a venue hook. So, a procedural win, but a win nonetheless, and sound. That leaves the various specific manufacturer challenges.
news.bloomberglaw.com
