...the Druggies took the government money to develop their drugs, so I suspect that they’re out of luck.
If government can take away your patent on a whim, why would you invest billions to develop new medications?
This is communism . Plain and simple.
Big pharma has its issues, but regardless of the organization, company, etc.. what Biden is proposing is text book communism.
As others have said, what has the government taken over and done better than free enterprise did before that?
I remember President Gerald Ford’s jobs program. Unemployed people were set up in $10,000 a year jobs (back then) which cost the taxpayers $50,000 a year each in administrative costs. Better to have a guy stand on the corner and hand out crisp bills to the people.
Just before Biden started in office, Dan Bongino said some drugs are about to be in short supply or totally gone because the price control system of the government will discourage the normal pricing system give and take from functioning. Companies won’t work for free. Government interference will ruin the system.
we pay for the research
cuz countries with socialized medicine refuse to
well it is an election year
increased donations will change their minds
If big govt and big pharma werent already playing musical chairs between themselves...
I also dont think its fair the govt demands a billion dollars of testing done by the company, then takes their govt-awarded patents away so they can’t recoup.
Its all a complete mess and its falling apart. Its falling apart because either side is looking for loopholes or changing the rules and maximizing “profit”. In the case of govt that means fees, taxes and under the table bribes.
I can remember when they interfered with cable. Prices went through the roof.
“We’ll make it clear that when drug companies won’t sell taxpayer funded drugs at reasonable prices, we will be prepared to allow other companies to provide those drugs for less,”
That is absolutely the dumbest idea I have heard on this young day.
You do that, idiots, and see how many new drugs get produced.
Big Pharma has a lot of bad elements but it is one of the most robust drug innovators in the world. Kill their profit incentive and they will simply not but the $$’s into new research. I sure as hell wouldn’t.
The seizure of them for political purposes is properly named Communism.
Government is well known for its ability to make things cheaper. /s
THE FEDS NEVER DO ANYTHING CHEAPER.
REMEMBER $600 toilet seats???
The Biden administration has proposed a new rule.
My the castle is busy of late.
Yes, “we’re here to help”
Being in the industry, a few things that will happen: 1 - new drug development ceases. The investment into developing specialty drugs is staggering in time, effort and dollars. 2 - pull out from government contracts including 340B, DOD/Tricare, Medicare, etc. 3 - layoffs resulting from 1 and 2. 4 - long court cases as this gets flushed out with oddly enough no short term relief at all for patients as you can’t just switch from one manufacturing site to another. So many supply chain implications, active pharmaceutical purchasing agreements, facility and equipment qualification, distribution agreements, etc. if they would just STOP and reform PBMs it would have an immediate impact. Today they hold Pharma hostage by threatening to not recommend drugs for formulary placement unless they are paid rebates. Follow Drug Channels and Adam Fein to chase the money. A Pharma company sells drug X for $200 and by the time it gets through the supply chain and PBMs that same drug is now $6000. There is more wrong than just Pharma list pricing.
What a ghastly, horrible idea for the government to have total power over a medication. Awful potential for politiicized domestic wounding or genocide. Just no.