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I'm confused as to how this would possibly benefit BigPharma! Sounds like they will lose money instead while the consumer will win.
I took notes while watching the press briefing (youtube video up thread) and I missed a few things but this is what I got so far. I strongly suggest you listen to Sec. Azar to fill in the details. He used to be a BigPharma exec and knows how the other side works and thinks.
Most changes can be done via executive orders but this is a many months long process, fundamental structural change, removing anti-competitive barriers to generic competition. HHS is open and learning.
- - - - -
BigPharma won't be allowed to stop or delay research and production on generic drugs which they can do now
Change the list price system with its rebates, ie. 30% discount is given and then the price is raised 30%. There will be a flat rate. Now it's like buying a new car where you negotiate down from the sticker price.
FDA will require TV ads to state the price of the drugs they advertise
Pharmacy benefits managers at insurance companies get paid from BigPharma who they negotiate with, and by the insurance companies. They should only be paid by their customers, the insurance companies.
As it stands now, pharmacy benefit managers tell pharmacists they CANNOT tell patients that if they paid cash for a generic drug it would be cheaper for them, instead of going through insurance with a copay..
We should know what we will be paying and what competing drugs your doc isn’t offering to compare prices.
I'm confused as to how this would possibly benefit BigPharma! Sounds like they will lose money instead while the consumer will win.
I took notes while watching the press briefing (youtube video up thread) and I missed a few things but this is what I got so far. I strongly suggest you listen to Sec. Azar to fill in the details. He used to be a BigPharma exec and knows how the other side works and thinks.
Most changes can be done via executive orders but this is a many months long process, fundamental structural change, removing anti-competitive barriers to generic competition. HHS is open and learning.
- - - - -
BigPharma won't be allowed to stop or delay research and production on generic drugs which they can do now
Change the list price system with its rebates, ie. 30% discount is given and then the price is raised 30%. There will be a flat rate. Now it's like buying a new car where you negotiate down from the sticker price.
FDA will require TV ads to state the price of the drugs they advertise
Pharmacy benefits managers at insurance companies get paid from BigPharma who they negotiate with, and by the insurance companies. They should only be paid by their customers, the insurance companies.
As it stands now, pharmacy benefit managers tell pharmacists they CANNOT tell patients that if they paid cash for a generic drug it would be cheaper for them, instead of going through insurance with a copay..
We should know what we will be paying and what competing drugs your doc isn’t offering to compare prices.
Again, see how the stock market responded to trump's speech....all of Big Pharma stocks closed HIGHER. That's the big tell.
Again, see how the stock market responded to trump's speech....all of Big Pharma stocks closed HIGHER. That's the big tell.
I thought I heard the stock market went up generally overall. If these changes bring down prices of drugs, more people will be able to afford them so drug companies would sell more at a lower price. Win-win!
Last edited by PilgrimsProgress; 05-11-2018 at 04:39 PM..
I thought I heard the stock market went up generally overall. If these changes bring down prices of drugs, more people will be able to afford them so drug companies would sell more at a lower price. Win-win!
During the election, Trump said he'd do two things:
1) Allow the collective buying power of Medicare to lower prices
2) Allow consumers to import prescription drugs from Canada and other countries where brand-name drug prices are lower than in the US.
He did neither! Instead, he threw a couple of bones out to pretend they did something. All of the analysts are saying this is, "very, very good for drug companies", and their stock prices are soaring.
Originally Posted by Listener2307 It's probably gonna be the end of the world. Trump is toast, now. There is no way on earth the good people of Wherever You Are From will reelect him.
So we'll do it for you.
MAGA!
Quote:
Originally Posted by vacoder
Nothing to do with the topic.
(the topic is Trump's "broken campaign promise")
OK. Now turn your sarcasm detector ALL THE WAY UP! Hear that faint hiss in the background?
That's the sound of millions of Trumpeteers dismissing your charge. We still like him.
Location: Big Island of Hawaii & HOT BuOYS Sailing Vessel
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My medication in Thailand was sold to me over the counter by simply making the request.
Total cost to me was $12 which was less than the copay in the US for the exact same medicine from the same factory.
The US pharmacy charged $120 plus insisted I have a script from a specialist. The specialist wouldn't accept an appointment without a referral from a GP. The net result was one bottle of pills in Thailand $12 USD. Total cost in the US closer to $500 including doctor visits to get the script.
Oh almost forgot, the specialist loved to order blood work which meant another cost to take this same medication I have been taking for 20 years.
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