273

Pharma Lobby Furious Over Wildly Popular Effort to Curb Drug Prices (www.commondreams.org)

submitted 1 year ago by [email protected] to c/[email protected]

25 comments fedilink hide all child comments

The pharmaceutical lobby strongly opposed the Biden administration's plan to directly negotiate drug prices for 10 medications with Medicare. PhRMA argued this will hurt innovation, but advocates note that drug companies make 76% more than needed for R&D. Eliquis, which costs Medicare over $16 billion, will be subject to negotiations. The policy was enabled by the Inflation Reduction Act, which PhRMA spent millions lobbying against. PhRMA sued over the negotiations, but the DOJ moved to dismiss the case. Advocates believe this defeat of Big Pharma will not be the last as negotiations may expand to over 100 drugs in the future, greatly helping seniors and people with disabilities access affordable medications.

you are viewing a single comment's thread
view the rest of the comments

[-] [email protected] 25 points 1 year ago

A win is a win, so the Americans should take it were they can but this will just push costs elsewhere. I image they'll just recoup the profit on the next 10 most popular drugs were they can gouge. We really need to start talking about comprehensive healthcare reform, a revolution so to speak, that stops this stupid patchwork and actually give us universal healthcare.

[-] [email protected] 9 points 1 year ago

It opens a crack to do it again. And again and again. If it didn't hurt them they wouldn't fight it so hard. But I do agree we should be trying for something more comprehensive. That said, I don't think the country is currently capable of doing something like that. We're too broken.

[-] [email protected] 4 points 1 year ago

I I'm off the firm belief life saving medicine shouldn't cost the consumer anything. The government should be in charge and negotiate pricing with the businesses. But they're rather bleed us dry.

[-] [email protected] 2 points 1 year ago

I image they’ll just recoup the profit on the next 10 most popular drugs were they can gouge.

If they could gouge them, they probably would be doing so already.

this post was submitted on 30 Aug 2023

273 points (100.0% liked)

Politics

10168 readers

11 users here now

In-depth political discussion from around the world; if it's a political happening, you can post it here.

Guidelines for submissions:

Where possible, post the original source of information.
- If there is a paywall, you can use alternative sources or provide an archive.today, 12ft.io, etc. link in the body.
Do not editorialize titles. Preserve the original title when possible; edits for clarity are fine.
Do not post ragebait or shock stories. These will be removed.
Do not post tabloid or blogspam stories. These will be removed.
Social media should be a source of last resort.

These guidelines will be enforced on a know-it-when-I-see-it basis.

Subcommunities on Beehaw:

Socialism

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago

MODERATORS

[email protected]