Why Spend More for Drugs ?
Probably because your paying for what the Pharma Companies are paying off Politicians
Bernie Sanders has a point on this ONE issue. However, there is a much
simpler fix than what Bernie is proposing, and it won't result in higher
taxes and will lower USA patient drug costs.
Pass legislation to allow Medicare and all other federal agencies to negotiate directly with pharmaceutical companies for drug prices. The VA already does this, and their prices are 80% less. The prices must be at the most favorable prices ALREADY granted to other industrialized, developed countries for the same drug. The negotiated prices will be offered to ALL USA patients. Any generic drug that is ALREADY allowed in any other industrialized, developed country will be avaialble without restrictions to USA patients.
Here's why: the USA patient already pays DOUBLE what patients in other industrialized, developed countries pay for the SAME drug. USA patent law allows pharmaceuticals to make minor changes, such as dosage, that do not change the underlying drug, to extend the patent up to 20 more years which keeps out lower priced generics.
The point will be made that drug companies need to get the USA prices in order to continue to fund research and development of new drugs; which can be easily remedied: the pharmaceutical industry receives US Government funding for R&D, but more significantly the pharmaceutical industry spends MORE on marketing and advertising the USA than they do do on R&D.
Total RX drugs are estimated to cost the USA patient about 10-15% of their total healthcare bill, so this would reduce USA total healthcare costs by 5-7.5% WITHOUT any new taxes.
Here are a few examples from a 2018 paper in healthsystemtracker.org:
-Humira, prescribed to treat rheumatoid arthritis, is priced 96% higher in United States than in the United Kingdom and 225% higher than in Switzerland, according to data from the International Federation of Health Plans. For the U.S., these data reflect the average payments made, including insurance and patient cost-sharing, but does not reflect rebates.
-Xarelto, a drug prescribed to prevent or treat blood clots, is priced more than twice as high in the United States, on average, than in the United Kingdom or Switzerland.
-Harvoni, a high-cost specialty drug prescribed to treat Hepatitis C, is priced 42% higher in the United States, on average, than in the United Kingdom and 90% higher than in Switzerland.
Pass legislation to allow Medicare and all other federal agencies to negotiate directly with pharmaceutical companies for drug prices. The VA already does this, and their prices are 80% less. The prices must be at the most favorable prices ALREADY granted to other industrialized, developed countries for the same drug. The negotiated prices will be offered to ALL USA patients. Any generic drug that is ALREADY allowed in any other industrialized, developed country will be avaialble without restrictions to USA patients.
Here's why: the USA patient already pays DOUBLE what patients in other industrialized, developed countries pay for the SAME drug. USA patent law allows pharmaceuticals to make minor changes, such as dosage, that do not change the underlying drug, to extend the patent up to 20 more years which keeps out lower priced generics.
The point will be made that drug companies need to get the USA prices in order to continue to fund research and development of new drugs; which can be easily remedied: the pharmaceutical industry receives US Government funding for R&D, but more significantly the pharmaceutical industry spends MORE on marketing and advertising the USA than they do do on R&D.
Total RX drugs are estimated to cost the USA patient about 10-15% of their total healthcare bill, so this would reduce USA total healthcare costs by 5-7.5% WITHOUT any new taxes.
Here are a few examples from a 2018 paper in healthsystemtracker.org:
-Humira, prescribed to treat rheumatoid arthritis, is priced 96% higher in United States than in the United Kingdom and 225% higher than in Switzerland, according to data from the International Federation of Health Plans. For the U.S., these data reflect the average payments made, including insurance and patient cost-sharing, but does not reflect rebates.
-Xarelto, a drug prescribed to prevent or treat blood clots, is priced more than twice as high in the United States, on average, than in the United Kingdom or Switzerland.
-Harvoni, a high-cost specialty drug prescribed to treat Hepatitis C, is priced 42% higher in the United States, on average, than in the United Kingdom and 90% higher than in Switzerland.
