Pres. Trump Signs Prescription Drug Executive Order Designed To Lower Costs
...to buyers.
Years ago I had proposed an action very similar to one of Pres. Trump’s last Part of the order. The relevant part of the presidential executive order signed today states —
“...The president will also implement a mandate that pharmaceutical companies sell prescription drugs in the U.S. at the same prices as in other countries, called the international drug-pricing index or the “favored nations clause...” https://www.washingtonexaminer.com/n...ion-drug-costs
I think I published my very similar proposal on these pages years ago, but my search failed to find the thread. Here is mine from my notes —
Quote:
Pass one simple law - "No drug company shall sell in the US a drug at wholesale at a price more than the least price they sell it in any other country except when the drug is given free for humanitarian purposes."
That will force the drug companies to spread the cost of development to the blood sucking socialist systems (if they want to do business here) so that we are not left to fund it alone, and the price will reach a universal equilibrium.
One new law for Pharma -
"No patent protected drug shall be sold by the manufacturer at a higher price in the U.S. than it is sold by them in any other country, except for those drugs given away or sold at nominal prices for charitable purposes.”
This new law would not be so much for the purpose of holding drug cost down here, but to apply pressure on and give cover for drug companies to resist the socialized governments elsewhere to sell their products to those other countries at surplus prices, while recouping their development costs from U.S. taxpayers alone. Because we are the market of choice such a law would have the effect of causing drug companies to up their pricing elsewhere and equalize drug costs universally thereby spreading the recovery of investment costs to everyone who uses their product rather than just us.
One caveat: in the article above it seems Trump has left room for Big Pharma to weasel out of the restrictions —
Quote:
...Trump said he’ll be meeting with executives from the pharmaceutical industry Tuesday to discuss ways to lower drug prices and out-of-pocket expenses. He added that if the talks are “successful,” the fourth executive order could be scrapped...
