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You are absolutely right. Hey free market Republicans,
To achieve a free market would require Canada and other countries to lift price controls. This would cause prices to go up in those countries and they would lower here. No law needed.
It never made it out of committee. Do you have a source?
I cannot find any action on either the House or Senate bills besides being sent to committee last year. Nothing has happened officially on either since they were introduced.
To achieve a free market would require Canada and other countries to lift price controls. This would cause prices to go up in those countries and they would lower here. No law needed.
To achieve a free market, allow competition which lowers prices and increases quality. I have no idea why you think prices would go up.
This bill is political theater, firstly if you were going to do this you might as well just implement price controls here because that is what it effectively does. Once price controls like that are in place the incentive to invest in R&D dries up and that even applies to foreign companies who are using US consumers as the means to fund that R&D.
Drug companies get taxpayer paid government grants to cover 84% of the cost for the first research phase of drug development. And reports indicate that drug companies use a bit over 1% of their sales revenue on research for new drugs.
And drug companies spend 19 times more on marketing than on research and development. And then the drug companies get tax right offs for their marketing costs.
And half of America's drug research and development is done by universities and biotech firms (not drug companies.)
From 2002-2012 the 11 largest global drug companies made $711 billion in profits. And these drug companies charge Americans 40% more for drugs than they charge in Canada, 75% more than they charge in Japan, and triple the amount they charge in Denmark.
Drug company paid politicians and corporate news groups spread 'drug company propaganda' about the cost of research and development, these groups lie about the costs of research and development to scare the public about lowering drug costs.
To achieve a free market, allow competition which lowers prices and increases quality. I have no idea why you think prices would go up.
I'm not sure exactly what you are trying to suggest here but allowing someone to buy a drug in Canada with price controls would effectively have a company competing against itself. This would force the price lower in the US but now you have reduced the profit motive and the incentive for R&D.
I'm not sure exactly what you are trying to suggest here but allowing someone to buy a drug in Canada with price controls would effectively have a company competing against itself. This would force the price lower in the US but now you have reduced the profit motive and the incentive for R&D.
Price controls hinders quality and choices. Do you want a drug or service thats 95 percent effective and works faster that costs $500 or one thats 85 percent effective, doesnt work as fast but costs $50?
And who says the price control amounts are low. If the maximum a Canadian company can charge is $100 then they'll charge that because they know government will pay it. Why charge $80 when they know they can get $100.
There are no price controls on prescription drugs in Canada. Prices are negotiated with and agreed upon by the drug companies. If the drug has been approved for sale by Health Canada (similar to the FDA), it can be sold within Canada without such negotiations or a price agreement.
However such drugs will not be covered by the various provincial government drug programs (Pharmacare). Pharmacare (different provinces may have different names) generally covers drug costs for low income individuals after a deductible has been met. There is at least two exceptions - the low income test is waived for cancer drugs although some provinces don’t yet cover oral cancer drugs in their waiver. Drugs given in hospital are also free for everyone.
Quote:
The pan-Canadian Pharmaceutical Alliance brings provinces, territories, and federal drug plans together to negotiate prices for publicly covered drugs.
Many Canadians, including myself, have private insurance to help cover their drug costs.
Please tell me, you can recognize the 'motivation' for an article like that?!!!
Its pretty clear they are trying to discredit the competitions product, make it look lower quality, less potent, etc. these are sales tactics, nothing more, nothing less.
To achieve a free market would require Canada and other countries to lift price controls. This would cause prices to go up in those countries and they would lower here. No law needed.
Prices most likely would not go lower here. Look at the epi-pen as an example. That case was pure, outright greed.
That's not possible when some countries are setting the price.
Then they shouldn't sell there. The country would either be forced to raise their price limit for the drug, or another manufacturer will step in with an equivalent drug at that country's price point.
I see no downside for Americans here.
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