No President Trump, Prescription Drug Prices Can't Be Reduced by Decree

Real Clear Markets ^ | February 7, 2019 | Daniel Savickas

[Logical me]

Imported Generic drugs would wake up the industry.

[Buckeye McFrog]

No, but through executive authority he has the ability to make Big Pharma’s life really, really unpleasant if they won’t play ball with him.

[Revel]

Imported non Generic drugs would change everything if congress has not interfered and made it illegal.

[DariusBane]

I was in central America last month. Drug prices are cheap and no doctors note required (that’s a terrible idea). I don’t 100 percent understand the economic realities behind this. But we citizens of the U.S. are subsidizing the world.

[gibsonguy]

A big part of the cost is the litigation insurance. Most countries don’t have a horde of slip and fall lawyers just waiting to get class actions rolling.

[mfish13]

Drug costs here in the US are due to the cost of developing these drugs. If you make the drugs cheaper by government decree, then the incentive to develop new drugs goes out the window. Say goodbye to new drugs.

[mbrfl]

It’s called leverage, not decree.

[wildcard_redneck]

“Drug costs here in the US are due to the cost of developing these drugs. If you make the drugs cheaper by government decree, then the incentive to develop new drugs goes out the window.”

Claimed the Pharma executive.....

[NorthMountain]

Imported Generic drugs from Communist China and other turd-world hellholes would be something ... I don't mind getting generics from Israel, for example, but most of the world I just don't trust.

[Kickass Conservative]

The question is why are the Drugs cheaper overseas? It costs the same to develop the Drugs no matter where they are sold.

Use the Drugs, pay the Piper.

[New Jersey Realist]

Doesn’t anyone ask themselves why there hasn’t been a cure for any disease in the last 100 years?

[GaryCrow]

There are a lot of drugs that should be able without a prescription. I can get numerous drugs when I travel to India without a prescription for dirt cheap prices. Drug pressure medication or cholesterol medicine shouldn’t need a prescription for example.

[TaxPayer2000]

No Daniel Savickas, President Trump never said drug prices could be reduced by decree.

[mfish13]

We subsidize the R& D with higher costs here in the US. They do not develop as many overseas.

[PGR88]

Sure they can be

Allow imports of same drugs from markets where crony-capitalist big Pharma sells it much cheaper, widen FDA approvals of generics, quicken approvals of new drugs, etc...

[gloryblaze]

There are a lot of drugs that should be able without a prescription. I can get numerous drugs when I travel to India without a prescription for dirt cheap prices. Drug pressure medication or cholesterol medicine shouldn’t need a prescription for example.

While I agree, since most people have their insurance paid for by someone else, more or less, they would cry bloody murder if it had to be straight out of pocket.

[Buckeye McFrog]

I don't mind getting generics from Israel, for example, but most of the world I just don't trust.

If you go to a big chain pharmacy there is a pretty good chance that what they're selling you came from India.

[NorthMountain]

I mention Israel, because the last two or three times I got a prescription (for Amoxicillin or “Tylenol III”), the code number on the pills indicated Israel as the source. Not sure I trust India as much.

[kabar]

Obama made a deal with Big Pharma to keep high prices in exchange for their support and dollars to get Obamacare passed. I have no sympathy for the drug companies. Screw them.