Trump tells drug companies to 'get prices down'

Discussion in 'Politics, Religion, Social Issues' started by yaxomoxay, Jan 31, 2017.

  1. DrewDaHilp1 macrumors 6502a

    DrewDaHilp1

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  2. steve knight macrumors 68020

    steve knight

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  3. haxrnick macrumors 6502a

    haxrnick

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    #4
    Hopefully King Trump goes after airlines next. So expensive flying across country. :(
     
  4. jkcerda macrumors 6502

    jkcerda

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    #5
    how DARE he interfere with capitalism :mad:
     
  5. BoxerGT2.5 macrumors 68000

    BoxerGT2.5

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    #6
    This is really simply, make direct to consumer advertising illegal and then look at all of them and say "If you want market based reforms and the prices don't start coming down drastically, if drugs that have been around for 30yrs don't stop increasing by 5000%, then the market is going to open and Canada is going to be let in".
     
  6. RedOrchestra Suspended

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    #7
    As he told Boeing - "I want them to make money, just not that much money" - same holds true for all companies.

    Rock on, Mr. President.
     
  7. Snoopy4 macrumors 6502a

    Snoopy4

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    #8
    The problem is, we're covering the cost of price controls in other countries.
     
  8. v0lume4 macrumors 68000

    v0lume4

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    #9
    Our only decently-priced airline here in the states is Frontier Airlines. And even they are sometimes expensive. :(

    But for real if you haven't checked them out, you totally should. Especially when you can buy a ticket on one of their flash sales.
     
  9. chown33 macrumors 604

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  10. BoxerGT2.5, Jan 31, 2017
    Last edited: Jan 31, 2017

    BoxerGT2.5 macrumors 68000

    BoxerGT2.5

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    #11
    That's a huge problem and I fear that if they did open the market to Canada the drug companies would just pitch a fit and create a shortage of medications as a protest.
     
  11. RedOrchestra Suspended

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    #12
    Here's one of the telling, excessive tales, of pharma

    "Purdue [Pharma], ... has generated estimated sales of more than $35 billion since releasing its time-released, supposedly addiction-proof version of the painkiller oxycodone back in 1995. Its annual revenues are about $3 billion, still mostly from OxyContin."
     
  12. steve knight macrumors 68020

    steve knight

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    #13
    He just doesn't have stock in pharmaceutical.
     
  13. MacNut macrumors Core

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    #14
    Well Rush has a lot of money.
     
  14. BoxerGT2.5 macrumors 68000

    BoxerGT2.5

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    #15
    The issue is this takes more than Trump, it takes everyone in congress, both democrat and republican. Everyone needs to be on the right side of this regardless of where their donations are coming from or else the "fix" won't happen. They basically need to accept that they won't be seeing that money the next go around and to make other plans. I'm not too optimistic on that happening.
     
  15. haxrnick macrumors 6502a

    haxrnick

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    #16
    Aren't they the airline that basically charges you to breathe? IIRC they charge for just about every bag and carry-on/purses/diaper bags. I think I have looked and after all that it comes out slightly less but not worth it in the end when I can get points somewhere else.
     
  16. MacNut macrumors Core

    MacNut

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    #17
    I agree. Trump can attempt to ban lobbyists and tell drug companies to lower prices but until congress passes laws with teeth it won't work. Obama had the same promises.
     
  17. BoxerGT2.5 macrumors 68000

    BoxerGT2.5

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    #18
    Trump should ask to speak to a joint session of congress and ask them to take a pledge to stop taking money from drug companies and start working for the american people. Televise the thing and put them all on notice. I'm sure even the die hard liberals would finally applaud his vengeful tactics if it was for something like this.
     
  18. BaldiMac macrumors 604

    BaldiMac

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    #19
    Good thought on the pricing. We'll see how he goes about making it happen. I'm certainly not comfortable with massive deregulation of the pharmaceutical industry!
     
  19. MacNut macrumors Core

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    #20
    The claim you will hear from big pharma is, "without profits we can't create new medicines". So how much profit goes back into R&D and how much gets pocketed.
     
  20. thewitt macrumors 68020

    thewitt

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    #21
    There has to be something we can do that makes sense. My blood pressure meds are $15 a month in Malaysia, and $125 a month in the US - though I only pay an insurance co-pay in the US so I'm insulated from the actual costs.
     
  21. v0lume4 macrumors 68000

    v0lume4

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    #22
    They charge for carry-on bags, but I personally carry bags small enough to not warrant having to pay anything.

    I'm going to Vegas from Atlanta this weekend and the round trip including picking a seat is $110. (I usually don't pick a seat and just ask for a window seat at the counter -- they're normally cool enough to help out)

    Granted I'm not the person that carries a lot with me when I travel, nor do I care that much about drink service etc., so all of their micro transactions aren't things that I usually take advantage when flying larger airlines anyway. YMMV.
     
  22. BoxerGT2.5 macrumors 68000

    BoxerGT2.5

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    #23
    We subsidize drugs for the rest of the world through our high prices.
     
  23. steve knight macrumors 68020

    steve knight

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    #24
    not totally.
    The Wall Street Journal compared prices for 40 top branded drugs in Norway, England, and Ontario, Canada with the prices for the same drugs covered by Medicare Part B in the U.S., for which prices are made public. Prices in the U.S. were higher than prices in Norway for 93% of the drugs surveyed. Prices were higher in the U.S. than in England for all but one drug surveyed. In Ontario, prices were lower than in the U.S. for 28 or the drugs surveyed, while U.S. prices were higher for only two drugs (not all drugs are covered by all plans).

    Much of the considerable difference in pricing from country to country is the result of the bargaining power of big, state-run health insurance systems, like Norway’s, compared to the relatively weaker bargaining position of American doctor’s and health insurance systems. America's Medicare, for instance, is barred by law from negotiating drug pricing. Healthcare systems in other countries are also more willing to set hard price caps on drugs and to deny coverage for drugs deemed insufficiently cost effective.

    As a result of the substantially inflated prices for drugs in the U.S., Americans effectively subsidize research and development for new drugs worldwide, but that’s not all. Americans also pay for pharmaceutical firms’ large budgets for consumer advertising, which is not allowed in Europe, reports the Journal. Higher American prices also account in part for the fact that big pharma firms tend to be very profitable enterprises—pharma and biotech firms in the S&P 1500 earn an average profit margin more than twice the average for all companies in the index.
     
  24. vrDrew macrumors 65816

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    #25
    Another example of pure Trump idiocy. Both from the mind of the man himself, and his deluded followers.

    To say that drug pricing is, perhaps, a little more complicated than having a President tell them to lower their prices, is perhaps the understatement of the year.

    What are we supposed to do about so-called "orphan drugs"? IOW: Drugs that are often times highly effective at treating diseases that affect only a few hundred or thousand people. They might very well be literal lifesavers - but they cost tens, sometimes hundreds of millions of dollars to develop, test, and produce. There are thousands of such medications on the market, and can sometimes cost upwards of a million dollars per patient, per year. (This, BTW, was why one of the features of ObamaCare was to do away with lifetime caps on treatment costs.) Getting an orphan drug maker to lower the price of a medication by 50% sounds like a great deal. But if you simultaneously repeal the ACA, so the parents of a kid with Gaucher's disease is on the hook for $100,000 per year because they've exceeded the lifetime treatment cap - it doesn't sound like such a good deal.

    That's just orphan drugs. What do you do about the fact that many other nations are, in fact, "free riders" on the US Government's FDA approval process. How do you get countries in Asia, along with Mexico and Canada, to pay their share of the billions it costs each year for US drug makers to get medications through FDA approval - if you've just ripped up NAFTA and the TPP, while simultaneously repealing the ACA? If Trump was talking about this as a way of "getting a better deal" for the US, he might have a point.

    Here's my prediction: A handful of drug makers will announce they are reducing the price of a handful of drugs by 20% or so. Trump will boast about what a great negotiator he is, and a year later we'll still be spending pretty much the same amount - or more - on prescription drugs.

    Seriously: Read that Forbes article from back in 2012.

    Emphasis Mine.

    Oh, and that TPP Trump just announced he was tearing up: One of the objections some people had to it was that it would raise drug prices in places like India and Malaysia - by making those countries respect US drug patents.

    I bet Donald Trump didn't stop to think about that. And if he did, why does he think he's such a good negotiator?
     

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