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re: Lets talk Yangs HC Plan
Posted on 12/17/19 at 10:12 am to wutangfinancial
Posted on 12/17/19 at 10:12 am to wutangfinancial
quote:
We would have to have a global standard for drugs so the FDA would allow international generics to be "worthy" for the U.S. consumer. I doubt that happens. It all leads to price fixing and cost shifting. That drug won't get made in the future if the company can't charge what they deem as a fair price for it.
You think that a drug company would bail on the US market if the US offered to purchase at the same rate seen in other highly developed Western European countries?
2
Posted on 12/17/19 at 10:15 am to Sneaky__Sally
quote:
You think that a drug company would bail on the US market if the US offered to purchase at the same rate seen in other highly developed Western European countries?
They should have the right to do so. The government shouldn't be negotiating heal prices on behalf of its citizens. Let the private insurance companies do that.
Posted on 12/17/19 at 10:42 am to Sneaky__Sally
Let me give you an example of what I am getting at:
Gilead cures Hep C effectively for the world. They were able to charge something like $64K in the U.S. In India, for example, they charged something like $4 for the treatment. Eventually the patent expired and the cost decreased dramatically because of competition from within the U.S. The real question is, without the monopolistic pricing powers, would we have a cure for Hep C at all? If the U.S. government can force the company to pin the price at $4 a pill there would be no profit incentive to create the treatment in the first place.
The government would be driving business out of the U.S. and would be sacraficing quality for cost more than likely. The U.S. consumer wants it both ways in this regard and it's not possible. If the government can retroactively choose which drugs they feel are overpriced, drug companies will move production to another market knowing when they have a blockbuster drug, they have no pricing power or profit incentive.
Yes, I think they would wait until the government was willing to pay a higher price due to pressures from consumers.
Gilead cures Hep C effectively for the world. They were able to charge something like $64K in the U.S. In India, for example, they charged something like $4 for the treatment. Eventually the patent expired and the cost decreased dramatically because of competition from within the U.S. The real question is, without the monopolistic pricing powers, would we have a cure for Hep C at all? If the U.S. government can force the company to pin the price at $4 a pill there would be no profit incentive to create the treatment in the first place.
The government would be driving business out of the U.S. and would be sacraficing quality for cost more than likely. The U.S. consumer wants it both ways in this regard and it's not possible. If the government can retroactively choose which drugs they feel are overpriced, drug companies will move production to another market knowing when they have a blockbuster drug, they have no pricing power or profit incentive.
quote:
You think that a drug company would bail on the US market if the US offered to purchase at the same rate seen in other highly developed Western European countries?
Yes, I think they would wait until the government was willing to pay a higher price due to pressures from consumers.
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