Before you start criticizing Trumps attempt at lowering drug prices, consider this, its consequences and what you are comfortable with.
Drug prices in the US are where they are in part because of the following.
When you squeeze a ballon it bulges elsewhere or if you squeeze too hard, it pops. There may be room to squeeze drug company profits, but let’s be sure that doesn’t also mean cutting our access to more innovative drugs in the future.
There is much we can do to help manage drug prices before we “decide not to cover drugs whose prices they deem excessive.”
Source: NYTs 5-11-18
“Drug manufacturers in the United States set their own prices, and that is not the norm elsewhere in the world,” a spokesman for the 28-member European Union said on Friday. “E.U. member states have government entities that either negotiate drug prices or decide not to cover drugs whose prices they deem excessive. No similar negotiating happens in the U.S.”
Dr. Mitchell Levine, the chairman of Canada’s Patented Medicine Prices Review Board, which reviews prices to ensure they are not excessive, said in an interview, “With our price regulations, drug companies are still making profits — just lower profits than in the United States.”