Perspectives: Trump’s Drug-Pricing Order; Profiteering On COVID Drugs
Read recent commentaries about drug-cost issues.
Bloomberg:
Trump’s Drug-Pricing Ideas Would Cost Taxpayers, Benefit Pharma
Early in President Donald Trump’s term he said pharmaceutical companies’ prices were so high, they were “getting away with murder.” He promised Americans he would help them save big on prescription drugs. And drug companies, well, they were going to pay for it. But drug prices rose anyway. In 2018, for every one drug price that fell, 96 other drug prices went up, the Associated Press reported. Patients’ out-of-pocket drug costs also increased — by more than 50% from 2016 to 2018 for people with cancer, arthritis and other serious conditions, according to the Health Care Cost Institute. (Peter B. Bach, 9/29)
The Bulwark:
Trump’s Desperate, Extraconstitutional, And Probably Illegal Ploy To Lower Drug Prices
According to the New York Times, in July and August, President Trump pursued one last (and probably illegal) gambit with the pharmaceutical industry to deliver lower prices to consumers. He and his aides used the threat of pricing tied to an international benchmark to coerce the industry to agree to provide direct assistance to Medicare beneficiaries. The Times reports that major pharmaceutical companies were prepared to pay for $150 billion worth of cost-sharing relief for senior citizens if the administration halted its price-benchmarking plan. It is not clear from the story how the drug companies could provide such assistance under current law. (James C. Capretta, 9/24)
The (Galveston, Texas) Daily News:
Trump Executive Order Undermines Vaccine Innovation
As our state and country continue to grapple with COVID-19 and its devastating effects, it’s clear that to defeat this pandemic, the United States must embrace the power of the competitive market and the immense medical innovation it produces. Today, about 90 percent of all newly developed medicines are available in our country, dwarfing comparable rates in countries like France and Canada (50 percent and 46 percent, respectively). In fact, when it comes to the development of and access to innovative medicines and treatments, the United States’ success is unparalleled in the world. (Dennis Borel, 9/28)
Pamplin Media Group:
'Most Favored Nation' Pricing Harms Oregonians With Disabilities
We can all agree, prescription drug costs are simply too high for most Americans. Unfortunately, the administration's "Most Favored Nation" executive order on drug pricing misses the mark and could harm some Oregonians with disabilities in the long run. The Most Favored Nation Executive Order would model the United States after foreign countries, some of which use quality-adjusted life years (QALYs)-based assessments. This is dangerous for people with disabilities. (Jake Cornett, 9/26)
Bangor Daily News:
Why Profiteering On COVID Drugs Hurts Small Businesses Like Mine
Every year, I pay $14,000 out of pocket for infusions of biopharmaceuticals to keep my Crohn’s disease, a chronic inflammatory auto-immune condition, under control. It’s by no means a panacea, but it sure beats the days before I took them. Back then I passed out nearly every month from the pain and had to have 18 inches of my intestine surgically removed. If I were not fortunate enough to have insurance, I would either have to go back to those days or pay $30,000 a year. Why are biopharmaceuticals so expensive? Yes, part of it is that they are more complex than typical medications. But it’s mostly because the pharmaceutical companies that make them have used their immense political power to create virtual monopolies. That has allowed them to price gouge patients like me who need to stomach their price-tag in order to survive. (Doug Fuss, 9/26)
