Clinton plans to prevent drug price hikes with federal oversight group
Instead of suggesting that the FDA approve generic products that are being used in Europe that are trying to get FDA approval and let the “free market place” to do its work.. Clinton is suggesting more bureaucracy – and cost – to help save us money… that is the reason why 50 yrs ago … average Rx price was $4 and change and there was no generics… no Medicare.. No Medicaid… all insurance companies were not for profit … no PBM and other middlemen .. with their cost infrastructure and for profit motives… all the while they are promising to save the system money… It’s doesn’t take a PhD in Economics to figure out that adding multiple levels of middlemen will not save a system money.
https://www.theguardian.com/us-news/2016/sep/02/hillary-clinton-drug-price-hike-mylan-epipen
Amid public outcry over a sharp increase in the cost of the EpiPen, a life-saving drug to stop an anaphylactic allergy attack, Hillary Clinton has unveiled a plan to prevent “unjustified price hikes” for older prescription drugs.
Clinton’s proposal would create a team of representatives from federal agencies that would investigate and monitor the cost of long-available prescription drugs with little or no competition to protect consumers from so-called “price gouging”. The plan sets out criteria for determining “an excessive, outlier price increase” and a set of enforcement tools that include making alternative drugs available and imposing fines or penalties to help fund expanded access.
“Over the past year, we’ve seen far too many examples of drug companies raising prices excessively for longstanding, life-saving treatments with little or no new innovation or [research and development],” Clinton said in a statement. “It’s time to move beyond talking about these price hikes and start acting to address them.”
Last week, Clinton called on Mylan, the manufacturer of EpiPen, to reduce the cost of the medical device after reports highlighted that its price rose by 461%, from from $56.64 to $317.82, since 2007, when the company acquired the product.
In a statement, Clinton called the price hike “outrageous” a “troubling example” of pharmaceutical companies taking advantage of consumers. “Since there is no apparent justification in this case, I am calling on Mylan to immediately reduce the price of EpiPens,” Clinton said in a statement.
In response to the uproar, Mylan said it would launch a generic EpiPen version that is identical to the brand-name device but significantly less expensive, with a list price of $300 for a two-pack. The company also announced earlier that it would offer additional financial assistance, including co-payments worth $300, to patients who have to pay the full out-of-pocket price for the device.
Last year, Clinton outlined a plan to tackle the rising costs of prescription drugs amid outrage over the staggering price increase of Daraprim, a drug that treats life-threatening parasitic infection. The startup company responsible, Turing Pharmaceuticals, owned by controversial former hedge fund manager Martin Shkreli, acquired the decades-old drug and raised the cost from $13.50 to $750 per pill.
That plan would deny tax breaks for pharmaceutical companies that market medicines directly to consumers, a controversial and costly practice legal only in the US and New Zealand, according to the World Health Organization. Clinton also said she would push companies to invest in research and development in exchange for federal subsidies.
Filed under: General Problems
Well stated Lespaul. Sadly too many refuse to see what is right before their eyes. The reply I usually get when I bring up these subjects are on the order of “I don’t want to hear it cuz I am tired of the whole thing” or ” I don’t know and don’t care! This is so scary! People will see it when it’s too late just as the Germans did with the Nazis! I fear for us as a country.
The last and worst place to rely upon for a solution to a large group problem should be the government. If one requires a solution that is inefficient, marginally effective at best and is the highest price solution in a sea of potential solutions, just call on the State. Ya want proof…it’s called History. Google is an excellent place to start for research. One only need look back 60 years in our own history for manifold proofs to my statement.
As far as to what Ms. Clinton’s proposed solution resembles, we call this fascism, albeit a gentler and far less intrusive form than was practiced in Europe prior to 1950, excepting Franco’s Spain where it endured until the 1970’s. She is putting the government into a position where the State sets prices and regulates production quantities. “But that’s not what she is proposing!” one protests. True and not yet I’ll concede. What I just stated is the logical endpoint given that the Fascist tendencies have to start somewhere and what she proposes is the most blatant that I can recall right off the top of my head. Actually it’s the second of three, second only to the Statist mandate that all must purchase Health Insurance or be taxed even more excessively. The third example of production quotas being instituted and monitored by our State that I recall is the annual production quota on every item on the Controlled Substances Roster. The DEA has to approve a total annual production quota for every item CII to CV. I do not recall the actual mechanism, but at the end of the day. they have the final say and enforce their mandate with guns, handcuffs and cages…all in the name of public safety of course. It’s Fascism pure and simple.
At what point do we withdraw out collective consent to be ruled in this manner. At what point do we, as a people issue a unison shout of “NO!”? It’ll be far easier and far less bloody now than if we wait.
Yet another “oversight committee.” Is that the same as a “task force?” So who will oversee the “oversight committee?” The same ones who are passing the laws and regulations that are keeping us in pain? The same ones who continue to fund the DEA, which has never had to answer for any wrong-doings they’ve been responsible for? I wonder if this committee will be funded by the opioid tax that Hillary supports. (I guess it’s a sin to want pain relief).
Friends, we don’t need more government-funded “committees” and “tasks forces.” We need the government (both federal and state) to get the hell out of our doctors’ offices. That starts with voting the idiots who’ve done nothing but make our lives hell out of office in November. If we can all band together, we can do this. BUT we’ve GOT to quit arguing amongst each other over politics. We’ve got to quit defending those who are currently in power (regardless of party affiliation), as they are responsible for all of this crap.
Unbelievable – why CREATE another gov. group for taxpayers to fund, which will only become power-hungry greedy over-reaching their boundaries in the future never listening to citizens nor anyone else since they have been contaminated with the title,power,influence, overpayment of being a gov. entity. God-complex on steroids…..
Correct Steve, doing the obvious won;t do-I mean generics are there for a reason…….but creating more taxpayer burden & future harm by a useless group is just plain IGNORANCE my dear Hillary.
The democrats answer to everything is more government interference!