The State of Maine wants drug companies to compete for its business.
Specifically, the State of Maine is trying to buy cheaper generic drugs from foreign suppliers so that they are not held captive to the world's highest, most monopolized drug costs. If they are successful, it will result in a tremendous savings to tax payers and health consumers. It will also set a precedent which will force drug corporations into a whole new level of competition for consumers.
Maine?s prescription for drug savings: Go foreign | PBS NewsHour | Nov. 9, 2013 | PBS
Here is the essential problem: Big Pharma is going crazy over the fact that the State of Maine is forcing it to compete. Indeed, Big Pharma doesn't want to compete for American consumers. Through lobbying and election funding totaling $2,742,005,132, Big Pharma has literally paid Washington to muscle out Foreign and Generic drug makers, thus making American consumers captive to a government protected monopoly.
Sadly but predictably, The Republicans in Congress have come to Big Pharma's rescue. They are trying to prevent the state of Maine from testing the free market and seeking lower drug costs. They are trying to protect corporations from having to compete because those corporations fund their elections.
Here is the essence of how government protects wealthy corporation and investors
While it is completely legal for corporations to seek cheaper labor all over the globe (thus forcing the American worker to compete against Taiwanese sweatshops), it is illegal (in many markets, including pharmaceuticals) for the consumer to shop the globe for the cheapest prices. The Government intervenes in the market on behalf of the wealthy.
Will Republicans defeat the free market and feed the State of Maine into a government protected drug monopoly? Or, will the State of Maine win the right to force drug monopolies to compete for their business.
Story here
Maine?s prescription for drug savings: Go foreign | PBS NewsHour | Nov. 9, 2013 | PBS
What do you think?
Specifically, the State of Maine is trying to buy cheaper generic drugs from foreign suppliers so that they are not held captive to the world's highest, most monopolized drug costs. If they are successful, it will result in a tremendous savings to tax payers and health consumers. It will also set a precedent which will force drug corporations into a whole new level of competition for consumers.
Maine?s prescription for drug savings: Go foreign | PBS NewsHour | Nov. 9, 2013 | PBS
Here is the essential problem: Big Pharma is going crazy over the fact that the State of Maine is forcing it to compete. Indeed, Big Pharma doesn't want to compete for American consumers. Through lobbying and election funding totaling $2,742,005,132, Big Pharma has literally paid Washington to muscle out Foreign and Generic drug makers, thus making American consumers captive to a government protected monopoly.
Sadly but predictably, The Republicans in Congress have come to Big Pharma's rescue. They are trying to prevent the state of Maine from testing the free market and seeking lower drug costs. They are trying to protect corporations from having to compete because those corporations fund their elections.
Here is the essence of how government protects wealthy corporation and investors
While it is completely legal for corporations to seek cheaper labor all over the globe (thus forcing the American worker to compete against Taiwanese sweatshops), it is illegal (in many markets, including pharmaceuticals) for the consumer to shop the globe for the cheapest prices. The Government intervenes in the market on behalf of the wealthy.
Will Republicans defeat the free market and feed the State of Maine into a government protected drug monopoly? Or, will the State of Maine win the right to force drug monopolies to compete for their business.
Story here
Maine?s prescription for drug savings: Go foreign | PBS NewsHour | Nov. 9, 2013 | PBS
What do you think?
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