Skip to comments.Obama to Sign Prescription Drug Executive Order
Posted on 10/31/2011 7:52:30 AM PDT by Beaten Valve
Using the legal force of an executive order, President Obama is taking action on the health care front as part of his pressure on Congress for action on his jobs plan.
White House officials say at a midday signing ceremony in the Oval Office, the president will address price gouging and the availability of prescription drugs. He will also endorse what he describes as bipartisan legislation awaiting action.
The shortage of prescription drugs drives up costs, leaves consumers vulnerable to price gouging and threatens our health and safety, an administration official says.
(Excerpt) Read more at abcnews.go.com ...
So, will he outlaw purchasing drugs from Canada? I fear that’s coming.
Why would he need to sign an XO? I thought obamacare took care of all this.
Didn’t the Clinton admin. drive out drug companies from the US? There’s only like two left. My understanding was there were 19 major drug companies at the start of the Clinton’s reign and only two are left.
Somewhere I read that there’s a limitation to XO’s, what can or cannot be done with them. I think that Obamalamadingdong has got the dictator mentality.
Price gouging? It cost upward of 300 million to develop any new drug, and those are the old numbers..It could be double that today. And in this free market the drug company is not going to be able to charge what the market will bear?
sad times... and it IS too bad that many people can’t afford some of the more expensive non-covered drugs... it’s too bad..I’m one of them, but I’m not changing my viewpoint for convenience sake.
I wonder how much of the cost of development is directly linked to gov. regulations.
I don’t know how many drug manufacturers there are left in the US but law suits will drive them out.
Anyway....here’s one thing people need to understand, and this is only one example.
Claritin: 10 mg
Consumer Price (100 tablets): $215.17
Cost of general active ingredients: $0.71
Percent markup: 30,306%
“Stroke of the pen, law of the land. Kinda cool!”
more campaign fodder to use against obozo- the clown who sold out to big pharma to push through his garbage health care legislation...
the pu$$y GOP better jump all over him with this- i’m not holding my breathe...
Nixon tried this. It was eventually ruled illegal. 1970s wage and price freeze...
What does drug price gouging have to do with job creation?
I remember reading somewhere, a couple of years ago, how drug "manufacturing" plants pop up almost overnight in China. How are Chinese drug manufacturers standards held accountable?
Cost of research, development, testing and advertising: a billion dollars or more.
Executive Orders are, simply, the Executive's directives to implement policy using the authority the Executive branch has already been granted by Congress. They cannot be used to implement new policy above and beyond the bounds of the authority granted.
That's not to say that President's haven't tried to push those boundaries, but it's rare to have an EO overturned in court (only happened twice, most recently in 1995) for overstepping the Executive's authority.
It is hard to be objective when you’re up to your ass in idiots.
Don't forget ongoing post-marketing studies to ensure that there are no unforeseen safety issues.
Why do we need congress if a President can make law by signing an executive order?
Why do we need courts if a President can decide which laws to enforce and which laws to ignore?
Why do we need elections if we already have a man in office that knows what is best for our nation and if you disagree with him you are wrong (and should be demonized)?
I am always amazed at how the left accept behavior from one of their own that would get a Republican impeached.
There are times I really think Obama is hoping to get impeached. I am thinking he believes it is his ticket to re-election.
I am at the point that I blame the entire congress for what is going on. Both Democrats and Republicans are silent as our form of government is being changed daily.
that ONE has to pay for the all the R&D development of the other nine that never made it...
it's not all profit
They’re not. Drugs coming into Canada from India were found to contain nothing but baking soda. Looked like the real thing. So be careful when buying drugs from Canada. On case of an injectable cancer drug coming from China killed an American lady.
Of course, the FDA will look the other way if a particular pharmaceutical company makes some donations to Obama 2012 and the DNC.
It cost upward of 300 million to develop any new drug..”
The cost has been over $1 billion for some time now and that money must be replaced before the company patent runs out. I’m glad I no longer work for big Pharma, so many jobs have now been out sourced. BTW, the vast number of my colleagues were huge Clinton and now Obama supporters.
Visit to doctor: $150
Cost of paper doctor writes prescription on: $0.02
Percent markup: 749,800%!
Yep, that too. Also forgotten is legal issues. Drug companies keep a legal department on the payroll too. That adds to the cost. El Presidante can write all the XO’s to bring down the cost of drugs but all it will do is drive them overseas. Then how will the FDA control them?
Doesn't this administration limit or prohibit the import of drugs? (for the good of the population)
“Cost of research, development, testing and advertising: a billion dollars or more.”
Yes and then you have 7 years to recoup all of your R&D expenses before the generic producers are all over you and you lose a lot of market share.
The cost of a single item used in a drug (or any complex solution) is not indicative of the expenses needed to discover the indicated chemical, pass the entire FDA gamut of testing needed to show that this drug is safe for general human use, pediatric use or end of life use.
Remember Thalidomide? Cheap enough drug, but no one expected a need to look at its effects on future generations.
There is no such thing as a “cheap” or “generic” drug, until AFTER a company spends $100 million and $1 billion to determine if it is even worthwhile.
More unconstitutional “legislation” from the WH.
And the ball-less congress stands by doing nothing.
That is the most asinine, narrow minded, uneducated worthless post I believe I've ever seen. That looks like something the Obama administration would release as reason to do this. You have zip, zero, NO CLUE as to what goes into getting one of these drugs to market. If you did, you'd understand why the consumer price is what it is. The cost of ingredients is almost no factor at all on the selling price. That's like saying that when you buy a car, you're just paying for the raw plastic and metal. Do a little research into what goes into getting one of these drugs to market and you'll understand.
This sonofabitch has taken over the country! He’s gotta be stopped!
And, yet, you push dog and horse(sh!t) relief on your home page!
The article doesn’t indicate what this directive really says.
Then there is liability cost. Think "big awards against big pharma".
probably not, lately, I have found out from reading the pamphlets, that many of these new prescriptions actually cause the symptoms that you are written the prescription for in the first place.
Anti depressant drugs cause anxiety, depression along with a whole bunch of allergic reactions including death.
The stroke of a pen can destroy a complete industry and remove American advantage immediately!
The companies? Probably relocate taking technological advantage and employment out of the country.....
I didn’t think jackasses could hold pens!
Excuse me? Where did you get your consumer price?
The name brand Claritin I found at the most expensive place was $99.97 for 100 tabs and it looks like a big part of the cost there is the making up of a special bottle.
If you are willing to live with items being prepackaged you can get Claritin in the 45 count bottle for $25.56 for 45 tabs.
I can't check on the cost of the active ingredients because they are not available but as the first numbers were so far off I would doubt them as well.
I agree that the price of name brand items is outrageous, although for some people name brand is the only thing that works, but your claims are a bit out there.
Anyway....heres one thing people need to understand, and this is only one example.
Claritin: 10 mg
Consumer Price (100 tablets): $215.17
Cost of general active ingredients: $0.71
Percent markup: 30,306%
Here is what you fail to take into consideration:
Schering Plough's profit margin last year was 22%. That is a long way from what would be derived from a mark-up you note. I'm not saying your numbers are incorrect, just pointing out that there is more to them. Every person in the distribution chain adds his/her mark-up to the product - it is the reason for being in business. The end cost is not completely determined by the pharma company.
It cost just north of $500 million to develop and bring to market Claritin. Add to this the patient liability and potential nuissance lawsuit payoffs and you are talking some real money. A company making a profit of 22% annually is not gouging - they are doing well in comparison with my industry, but more power to them - why would you risk over a half a billion of investor dollars if there was not an upside on the back-end?
Seriously, it's illegal.
I’ve noticed that because they make so few Rolex watches, the price is higher than I like.
I’m waiting for the executive order that fixes that.
Wow, if ever there was a stupid argument... Here is another one for you.
F-22 fighter jet plans: 5 CDs
Taxpayer price: $10 billion
Cost of CDs: $2
Percent markup: Astronomical
You are paying for the R&D work, not just of the product, but of the products that didn't pan out.
And if you don't like it. Don't buy it.
College costs up 900% since 1978.
I wonder when the college deans will be under the hot lights being grilled by Congress like oil executives.
Wonder what he is really doing? You can be sure it is not good for the American people.
Yes we do, but our mark up is not 30,000% I can tell you that. The profit margin for distributors is between 40%-50% and for a store that purchases directly from us, their profit margin could be 100%. A little different from 30,000% I would say. I don’t understand you “horse (sh!t) relief” comment. Are you familiar with the product line or are you just spouting off?
“Didnt the Clinton admin. drive out drug companies from the US? Theres only like two left. My understanding was there were 19 major drug companies at the start of the Clintons reign and only two are left.”
You’ve got that right. Hillary was behind it. There was such a shortage of flu shots that year that many people were unable to receive them. We must NEVER FORGET.
I’m guessing he’s getting ready to shake down the pharmaceutical industry for campaign contributions.
I don't know what you consider a drug company, but there are numerous drug companies left in the United States. Merck, Pfizer, J&J, Lilly, Roche, Abbot, and a host of bio techs remain in the US.
Your post is so short-sighted, I hardly know where to begin.
When you purchase a pharmaceutical, you're not just paying for the "active ingredients." For most products, you're paying for years and years of research, clinical trials, and other operations in the pharma company developing the drug.
So, don't come to a thread like this, telling people "what they need to understand..." You're not qualified to speak on the subject.
Never heard of research investment, huh? Or testing and registration expense? Nor, evidently, are you aware of overhead, packaging, sales and marketing expense or any other business expenses.
Obviously, you know nothing of accounting. Nor anything about the pharmaceutical industry.