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HEALTH Here's A Real Trade Abuse Trump Should Address
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  1. #1
    Join Date
    May 2004
    Location
    2004 Soviet of Washington
    Posts
    9,551

    Here's A Real Trade Abuse Trump Should Address

    I have a lot of respect for the economic thoughts of Mr. Forbes.
    It was a bullet point item in President Trumps platform, and he does get around to things, come hell or high water.
    SS

    'Here's A Real Trade Abuse Trump Should Address
    Steve Forbes , Forbes Staff
    “With all thy getting, get understanding.

    HERE'S A HUGELY winning issue for President Donald Trump that would deal with a gross trading abuse and simultaneously advance his goal of reducing the prices of prescription drugs: Insist that foreign buyers of American pharmaceuticals--almost without exception government agencies--pay their fair share of the research and development costs of these medicines. Currently, Americans are subsidizing overseas users of our drugs.


    Here's how that works. The average price of successfully bringing a new medicine to market in the U.S. is about $2.4 billion. The entire approval process takes some 12 years before a drug receives its final green light. The expenses include all the would-be medicines that fail to make it out of the research labs or falter during the Food & Drug Administration's expensive, time-consuming clinical trials.

    Pharmaceutical companies get 20-year patents for their drugs, which means they really have about 8 years of monopoly power (20 years for the patent minus the 12 years for clearing all the hurdles before a particular prescription can actually be sold). No wonder the initial price for a new drug is sky-high, even though the actual manufacturing cost per pill is minuscule. (Ideally, when a drug goes "off-patent," imitators rapidly bring copies, called generics, to market, slashing the price. Unfortunately, FDA regulations have gummed up this process. New FDA head Dr. Scott Gottlieb has been removing obstacles, which is why the rate of drug approvals has more than doubled.)

    When a pharmaceutical company sells a new drug overseas, buyers demand a price that's a fraction of what American customers pay. The demand is more in line with a gangsteresque "We'll make you an offer you can't refuse" process than normal business bargaining. The implicit--and sometimes explicit--threat is that if a company doesn't cave the country will allow a knockoff of the medication to be produced by another company.

    The U.S. should now make fair pricing of American drugs overseas a top trade priority: If you don't want to pay for our R&D, you won't get our pills. Period. And if you try the imitation game, we'll take painful retaliatory measures.

    Success with this would mean significantly lower costs for American consumers. The publicity surrounding the issue would also educate Americans about how costly--and antiquated--much of our current approval system is, thus generating political support for the kinds of reforms Scott Gottlieb is pushing at the FDA. A side benefit would be reducing FDA resistance to the president's desire to let terminally ill patients have the right to take medications that haven't yet cleared bureaucratic hurdles for approval.

    https://www.forbes.com/sites/sap/201.../#11f6cd1d5983
    “Then the creatures of the high air answered to the battle, .., and the woods trembled and the wind sobbed telling them, the earth shook,; the witches of the valley, and the wolves of the forests, howled from every quarter and on every side of the armies, urging them against one another.”
    ― Lady Gregory, Gods and Fighting Men: The Story of the Tuatha De Danaan and the Fianna of Ireland

  2. #2
    Join Date
    May 2004
    Location
    2004 Soviet of Washington
    Posts
    9,551
    'when a drug goes "off-patent," imitators rapidly bring copies, called generics, to market, slashing the price. Unfortunately, FDA regulations have gummed up this process. New FDA head Dr. Scott Gottlieb has been removing obstacles, which is why the rate of drug approvals has more than doubled.)'

    This is one of the things that President Trump and his appointees have been doing.
    And it get no coverage from the Fake News Media.

    A family friend is paying $2,000 a month for a cancer medicine, with a little insurance coverage.
    It apparently, can be purchased overseas for much less.
    SS
    “Then the creatures of the high air answered to the battle, .., and the woods trembled and the wind sobbed telling them, the earth shook,; the witches of the valley, and the wolves of the forests, howled from every quarter and on every side of the armies, urging them against one another.”
    ― Lady Gregory, Gods and Fighting Men: The Story of the Tuatha De Danaan and the Fianna of Ireland

  3. #3
    Join Date
    Nov 2008
    Location
    OUT SIDE OF THE FALSE REALITY
    Posts
    10,902
    Very good idea.
    JUST A FEW OF MY SIMPLE THOUGHTS
    LAY LOW WAIT LIKE A WOLF IN THE WILD UNTIL THE TIME IS RIGHT
    Never Pick A Fight With An Old Man He Will Just Shoot You He Can't Afford To Get Hurt

  4. #4
    Join Date
    Jul 2005
    Location
    Happy on the mountain
    Posts
    60,827
    Big Pharma = BIG MONEY.

    Big money buys pollytickians.

    Good luck ...
    The wonder of our time isn’t how angry we are at politics and politicians; it’s how little we’ve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  5. #5
    Join Date
    Oct 2002
    Location
    Back in Iowa, where I belong
    Posts
    2,495
    People don't realize just how many of the medications we take here were developed overseas, and became available here years later. The R & D costs were covered by overseas sales, not US purchases.

    No small amount of the excessive costs here are due to American attorneys suing for every single side effect. Just waiting for one gutsy enough to take on the Tylenol industry like they did the asbestos industry. The payouts would be hugely bigger over time.

    RR
    Survival and Austere Medicine: An Introduction - 2nd and 3rd Editions Contributing author and editor

    Get your FREE copy of the 3rd edition here:NNPG Download Site

    Reddit AustereMedicine/

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