Trump says ‘favored-nations clause’ on drug prices is on its way

[Weatherman2020]

Let competition lower the prices.
God Bless Capitalism.

“President Donald Trump on Friday said his administration intends to announce a plan to decrease prescription drug costs based on the lowest price other countries pay. . . . The announcement comes less than two weeks after Trump signed an executive order to improve the transparency of healthcare costs. The order requires hospitals and insurance companies to tell patients their rates for medical services and what patients will be expected to pay out of pocket before undergoing treatment. Since his inauguration, Trump has made reducing prescription drug costs a priority of his administration.”

Trump says 'favored-nations clause' on drug prices is on its way

 

[Marion Morrison]

Let competition lower the prices.
God Bless Capitalism.

“President Donald Trump on Friday said his administration intends to announce a plan to decrease prescription drug costs based on the lowest price other countries pay. . . . The announcement comes less than two weeks after Trump signed an executive order to improve the transparency of healthcare costs. The order requires hospitals and insurance companies to tell patients their rates for medical services and what patients will be expected to pay out of pocket before undergoing treatment. Since his inauguration, Trump has made reducing prescription drug costs a priority of his administration.”

Trump says 'favored-nations clause' on drug prices is on its way

This is good news!

Trump gets as much done as he can. I have to admire that.

 

[Dekster]

It is good news as long as you have a condition that is treatable. It won't do much else but cut pharmaceutical R&D

 

[candycorn]

Let competition lower the prices.
God Bless Capitalism.

“President Donald Trump on Friday said his administration intends to announce a plan to decrease prescription drug costs based on the lowest price other countries pay. . . . The announcement comes less than two weeks after Trump signed an executive order to improve the transparency of healthcare costs. The order requires hospitals and insurance companies to tell patients their rates for medical services and what patients will be expected to pay out of pocket before undergoing treatment. Since his inauguration, Trump has made reducing prescription drug costs a priority of his administration.”

Trump says 'favored-nations clause' on drug prices is on its way

"Trump has made reducing prescription drug costs a priority of his administration.”

Meanwhile back in reality, the price of insulin has skyrocketed and the price of other preferred medications has remained firm.

Trump has done nothing.

 

[Weatherman2020]

Let competition lower the prices.
God Bless Capitalism.

“President Donald Trump on Friday said his administration intends to announce a plan to decrease prescription drug costs based on the lowest price other countries pay. . . . The announcement comes less than two weeks after Trump signed an executive order to improve the transparency of healthcare costs. The order requires hospitals and insurance companies to tell patients their rates for medical services and what patients will be expected to pay out of pocket before undergoing treatment. Since his inauguration, Trump has made reducing prescription drug costs a priority of his administration.”

Trump says 'favored-nations clause' on drug prices is on its way

"Trump has made reducing prescription drug costs a priority of his administration.”

Meanwhile back in reality, the price of insulin has skyrocketed and the price of other preferred medications has remained firm.

Trump has done nothing.

Thank you Obama.

 

[Weatherman2020]

Let competition lower the prices.
God Bless Capitalism.

“President Donald Trump on Friday said his administration intends to announce a plan to decrease prescription drug costs based on the lowest price other countries pay. . . . The announcement comes less than two weeks after Trump signed an executive order to improve the transparency of healthcare costs. The order requires hospitals and insurance companies to tell patients their rates for medical services and what patients will be expected to pay out of pocket before undergoing treatment. Since his inauguration, Trump has made reducing prescription drug costs a priority of his administration.”

Trump says 'favored-nations clause' on drug prices is on its way

This is good news!

Trump gets as much done as he can. I have to admire that.

Agreed. He’s working hard on key issues, unlike the previous idiot letting the mentally ill serve in the military and go into little girls bathrooms.

 

[Dekster]

Let competition lower the prices.
God Bless Capitalism.

“President Donald Trump on Friday said his administration intends to announce a plan to decrease prescription drug costs based on the lowest price other countries pay. . . . The announcement comes less than two weeks after Trump signed an executive order to improve the transparency of healthcare costs. The order requires hospitals and insurance companies to tell patients their rates for medical services and what patients will be expected to pay out of pocket before undergoing treatment. Since his inauguration, Trump has made reducing prescription drug costs a priority of his administration.”

Trump says 'favored-nations clause' on drug prices is on its way

"Trump has made reducing prescription drug costs a priority of his administration.”

Meanwhile back in reality, the price of insulin has skyrocketed and the price of other preferred medications has remained firm.

Trump has done nothing.

The demand for insulin should have increased when all those uninsurable diabetics became insureable under Obamacare. More importantly, insulin is better than it has ever been before and continues to improve as they continue to modify it to reduce episodes in which insulin causes the patient's blood sugar to suddenly crater. That costs money and the money is recaptured through pricing. A girl a couple streets over from me died when that happened to her when she was home alone.

 

[cnm]

It is good news as long as you have a condition that is treatable. It won't do much else but cut pharmaceutical R&D

Research is done in universities. Perhaps their marketing budgets might take a hit.

https://www.washingtonpost.com/resi...aws.com/public/D7JJHUKSBU6VNMMRYUTKU2OWA4.png

https://www.washingtonpost.com

 

[Dekster]

It is good news as long as you have a condition that is treatable. It won't do much else but cut pharmaceutical R&D

Research is done in universities. Perhaps their marketing budgets might take a hit.

https://www.washingtonpost.com/resi...aws.com/public/D7JJHUKSBU6VNMMRYUTKU2OWA4.png

https://www.washingtonpost.com

Your pretty little chart adds up to more than $50B in R&D in 1 year in 2013.

 

[Bootney Lee Farnsworth]

It is good news as long as you have a condition that is treatable. It won't do much else but cut pharmaceutical R&D

Research is done in universities. Perhaps their marketing budgets might take a hit.

https://www.washingtonpost.com/resi...aws.com/public/D7JJHUKSBU6VNMMRYUTKU2OWA4.png

https://www.washingtonpost.com

Do you know who pays for that research?

Hint: Not tax payers.

.

 

[cnm]

Your pretty little chart adds up to more than $50B in R&D in 1 year in 2013.

It is quite obvious where their priorities lie.

 

[Harpy Eagle]

Let competition lower the prices.
God Bless Capitalism.

“President Donald Trump on Friday said his administration intends to announce a plan to decrease prescription drug costs based on the lowest price other countries pay. . . . The announcement comes less than two weeks after Trump signed an executive order to improve the transparency of healthcare costs. The order requires hospitals and insurance companies to tell patients their rates for medical services and what patients will be expected to pay out of pocket before undergoing treatment. Since his inauguration, Trump has made reducing prescription drug costs a priority of his administration.”

Trump says 'favored-nations clause' on drug prices is on its way

Only in backwards world does the government giving private companies more rules and regulations equals “capitalism”.


Sent from my iPhone using USMessageBoard.com

 

[Dekster]

Your pretty little chart adds up to more than $50B in R&D in 1 year in 2013.

It is quite obvious where their priorities lie.

US Healthcare R&D 2016= $171.8 billion Report: US Medical Health Research Spending on the Rise, but for How Long?
UH healthcare spending 2016= £120.512bn NHS statistics, facts and figures - NHS Confederation
£120.512B=$150.68B

Just as we bear the brunt of providing the military for the world through our government, we bear the brunt of providing healthcare R&D so countries with their fabulous "free" healthcare get their drugs on the cheap.

No I do not like the situation with US drug pricing. I don't blame the companies. They operate in a market environment driven by INSURANCE COMPANIES. You are looking at the wrong villain here. Insulin and other drugs saw their price increases rates start growing with the implementation of the Affordable Care Act. The reason, in big part, was the insurance companies adopted approved drug lists using the obamacare model of restricting choices and not covering anything not on the list. If your company's drug you manufacture is not on the list, those patients have to pay out of pocket for it AND you have to charge more for them than you had been because you have to spread your costs and profits over fewer unit sales. Your company further has more costs to cover because you have to pay rebates i.e. kickbacks to the insurance companies that do allow your drugs to be covered just so their insureds can buy your medicine. It is one giant payola scheme and it all tracks back to insurance.