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Thread: Trump issues executive order to lower Medicare drug prices for seniors

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    Trump issues executive order to lower Medicare drug prices for seniors

    Order's 'most-favored-nation price' ties Medicare costs to those paid in other countries. Drugmakers outraged.
    Reported by Just the News.
    President Trump on Sunday signed an executive order moving Medicare one step closer to a "most favored nation" drug pricing system, instructing the government health care program for seniors to develop and test paying the same drug prices as other developed countries with cost controls.

    "It is the policy of the United States that the Medicare program should not pay more for costly Part B or Part D prescription drugs or biological products than the most-favored-nation price," Trump's order declares.

    The memo defines the most-favored-nation price as "the lowest price, after adjusting for volume and differences in national gross domestic product, for a pharmaceutical product that the drug manufacturer sells in a member country of the Organization for Economic Co-operation and Development."

    Trump's approach is strongly opposed by the pharmaceutical industry and some conservatives who prefer the free market set competitive prices. But the president has been arguing since 2018 that U.S. senior pays far higher prices because drug makers off-load the development costs on Americans while providing discounts in foreign countries with cost controls. . . .


    I'm leery of a formula "adjusting for volume and differences in national gross domestic product," because I suspect the intent is to include clear charity cases, in which destitute, small countries are given drugs perhaps even below cost.

    I support charity of that sort. I just think it should be labeled. Something like bright red, 12 pt caps, saying something like, "this product is discounted for charity, and paid for by the people of the U.S.A." I'd extend that to little extortionist counties like Canada, too, but maybe the president's idea is better.
    • “Weakness is refusing to take responsibility for your own actions, weakness is pointing your finger at someone else in a time of crisis." — Minneapolis Mayor Jacob Frey, blaming Trump.
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    Quote Originally Posted by Newman View Post
    Reported by Just the News.



    I'm leery of a formula "adjusting for volume and differences in national gross domestic product," because I suspect the intent is to include clear charity cases, in which destitute, small countries are given drugs perhaps even below cost.

    I support charity of that sort. I just think it should be labeled. Something like bright red, 12 pt caps, saying something like, "this product is discounted for charity, and paid for by the people of the U.S.A." I'd extend that to little extortionist counties like Canada, too, but maybe the president's idea is better.
    We should at least try it.
    "Alexa, slaughter the fatted calf."

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    But will the pharmaceutical companies just stop selling the affected drugs in the USA?

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    Quote Originally Posted by Lady Marva View Post
    But will the pharmaceutical companies just stop selling the affected drugs in the USA?
    That'll go over real well.
    • “Weakness is refusing to take responsibility for your own actions, weakness is pointing your finger at someone else in a time of crisis." — Minneapolis Mayor Jacob Frey, blaming Trump.
    • "We hold these truths to be self evident. All men and women created by the, you know, you know, the thing." —Joe Biden, explaining the Creator.
    • "The way I see it, there's always, c'mon, there's always money. It's there." —Elizabeth Warren, explaining socialism.
    • “The interesting thing about the Green New Deal is it wasn’t originally a climate thing at all.... We really think of it as a how-do-you-change-the-entire-economy thing.” —Saikat Chakrabarti, then AOC's Chief of Staff.
    • "We have to stop demonizing people and realize the biggest terror threat in this country is white men, most of them radicalized to the right, and we have to start doing something about them." —CNN's Don Lemon, showing how to stop demonizing people.


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    Quote Originally Posted by Newman View Post
    That'll go over real well.
    With whom? Customers will have no choice.

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    Quote Originally Posted by Lady Marva View Post
    With whom? Customers will have no choice.
    Are you kidding? The capital investment was made years ago but all those companies need to make money now to fund new projects. They'll negotiate with Medicare just the way they already negotiate with Sweden or Italy or any other country that has price caps or regulations. Americans take more pills than anybody in the world.
    "Alexa, slaughter the fatted calf."

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    It won't work.

    Every time the government regulates prices, the average price paid goes up. Look at credit card interest rates and fees, highest in almost 20 years and much higher than when they were when Dodd-Frank was signed.

    https://wallethub.com/edu/cc/histori...t-rates/25577/
    "What truly matters is not which party controls our government, but whether our government is controlled by the people. January 20th 2017, will be remembered as the day the people became the rulers of this nation again. The forgotten men and women of our country will be forgotten no longer."

    link

    Time will tell.

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    Quote Originally Posted by scott View Post
    It won't work.

    Every time the government regulates prices, the average price paid goes up. Look at credit card interest rates and fees, highest in almost 20 years and much higher than when they were when Dodd-Frank was signed.

    https://wallethub.com/edu/cc/histori...t-rates/25577/
    It could in this case since Medicare would theoretically be competing alongside foreign healthcare agencies that have strict price controls.

    Pharma has to recover development and investment costs which normally would come mostly from new drug sales but they still have to cover much later litigation and overhead costs which come from sales of generics (mostly) as well as sales from older still-in-patent drugs. Foreign countries usually wait for the generics but also buy older drugs so Medicare would be in that group.

    This could level it out quite a bit. It might retard new drug development but that itself would put pressure on politicians to loosen some of the development costs to Pharma by changing some of the onerous hoops it takes to bring anything to market.

    To those worried: most of the costs of drug development today aren't related to toxicity issues. Those are solved early on. A lot of it is very unusual 'black box' unintended effects. Most people would never experience any of these. These are not 'side effects' which are well known and well documented. These are kind of one-off effects that have or could happen to some few people or even just one person in a study.
    "Alexa, slaughter the fatted calf."

  10. #9
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    This:
    Quote Originally Posted by Gingersnap View Post
    We should at least try it.
    I can think of negatives myself, but Trump has friggin' done something, and it has a chance of success.

    That's what Obama bois would say about ObamaCare too, of course, but they were giving us a prototype perpetual motion machine.

    Frankly I think the drug plan is likely to work, to a large extent. Heck, it's very close to what my humble self has been pushing for a long time.

    It leaves private enterprise intact. We should at least try it.
    • “Weakness is refusing to take responsibility for your own actions, weakness is pointing your finger at someone else in a time of crisis." — Minneapolis Mayor Jacob Frey, blaming Trump.
    • "We hold these truths to be self evident. All men and women created by the, you know, you know, the thing." —Joe Biden, explaining the Creator.
    • "The way I see it, there's always, c'mon, there's always money. It's there." —Elizabeth Warren, explaining socialism.
    • “The interesting thing about the Green New Deal is it wasn’t originally a climate thing at all.... We really think of it as a how-do-you-change-the-entire-economy thing.” —Saikat Chakrabarti, then AOC's Chief of Staff.
    • "We have to stop demonizing people and realize the biggest terror threat in this country is white men, most of them radicalized to the right, and we have to start doing something about them." —CNN's Don Lemon, showing how to stop demonizing people.


  11. #10
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    I get most of my meds from VA, but when I got a common B vitamin and the fucking co-pay was $14 I was astounded.
    I buy the same from CVS for about $6 now.
    Robert Francis O'Rourke, Democrat, White guy, spent ~78 million to defeat, Ted Cruz, Republican immigrant Dark guy …
    and lost …
    But the Republicans are racist.

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