Trump’s Vow to Control Drug Costs Alerts Another Industry-Can Trump Do What Obama Care Can't?

Trump may actually do what the ACA was supposed to, drive down medical costs.

Lets get this out of the way: Oh God there is going to be no innovation if this happens. We are all going to die if there isn't 200% profits.

President Trump said he doesn't like what had happened with drug prices.

President-elect Donald Trump promised to drive down the cost of medicines, defying investors who saw a boon in his election last month and injecting himself again into a contentious economic debate.

“I’m going to bring down drug prices,” Trump said, according to a transcript of an interview posted on Time magazine’s website as it named him its Man of the Year. “I don’t like what’s happened with drug prices.”

So with jewels of business like epipen, www.abovetopsecret.com... absolutely pounding the people who need that product in the face, and ask a diabetic about insulin, or a person suffering from asthma what the skinny is on their medications. You may hear a lot of F's & M-F's.
GO Trump go, the buffet line into the American's pocket book may very well be OVER!!!!! Make a fair profit, stop gouging us and then smile at me on CNN live, jerks.

Over the past 18 months, companies including EpiPen allergy shot maker Mylan NV and Valeant Pharmaceuticals International Inc. have borne the brunt of public outrage over costs. Last week, the chief executives of Regeneron Pharmaceuticals Inc. and Pfizer Inc. sparred over the reasons their industry’s reputation has suffered, including the role that prices have played.

Trump has joined that critical chorus. His comments published Wednesday were his latest swipe at American industries he views as out of line. He has singled out Carrier Corp. and Ford Motor Co. in efforts to keep jobs in the U.S., and on Tuesday called out Boeing Co. for the cost of replacing the Air Force One presidential aircraft.

www.bloomberg.com...

a reply to: seasonal

It's about time somebody kicked these companies in the nuts. Just because someone has to have something to stay alive doesn't mean it's right that every corporate whore out there gets a kick at the can.

Cheers - Dave

Drug prices are a huge problem when it comes to healthcare. Anyone who can get prices down is # 1 in my book. Big Pharma has made a killing over the years and although they do need to make a profit, charging hundreds, if not thousands, for medicines, taking advantage of the fact that some need it to live, is just greedy and immoral.

a reply to: bobs_uruncle

Standing ovation, I actually clapped.

I think Trump said the same thing, but in private.

a reply to: seasonal

We'll see. Research and development is an expensive prospect, and successful drug sales pay for the research and development of the next generation of drugs and health care. It's a lot more complicated that it seems.

I have said before that trying to give everyone insurance coverage is the wrong approach.
We need to lower the cost of Healthcare and then worry about the insurance.
Hopefully this is a good start.

But as windword said, this is complicated.

a reply to: windword

Actually the last drug pays for the next drug. And grants, and university studies, and privately funded research and government studies. So there is an unwritten or maybe written partnership.

I sort of think there is plenty of $$ out there. I would love to see the advertising budget to some of these $4,000 a month drugs.
I would also like to see a break even point for drugs, I'm not talking abstract day dreaming, I mean actual numbers on the companies website.

a reply to: seasonal

Big Pharma is a for-profit venture, as are insurance companies. Of course the logical and only humane recourse is to want for health care to be non-profit. But, that's NOT the American way. Corporations are people and money is speech, protected by the 1st Amendment! Capitalism is the "God" in which we trust.

The same drug made by the same people is 90 cents in Canada. Big Pharma spends very little on R&D and all most on marketing and PR. I hope something can be done.

a reply to: errck

Canada has Socialized Medicine. They have an "everybody pays for insurance through taxes" mandate. Obamacare has a mandate, and everyone hates it. If people and States didn't "opt out", Obamacare rates would be lower. If we had "Single Payer", which President Obama first proposed, we would have lower prices.

a reply to: windword

Ok, but a wake up call is coming. It is a feeling that both those on the right and left have been feeling for a long time. That perhaps there is such a thing is making too much profit.

Oh my God I said it.

a reply to: windword

ACA the only way prices go down are if young healthy people signed, not the older, not the sick.

Single payer may be cheaper, it would take a study of all the single payer systems around the globe and put the best of all of them in our system. Then hold on cause everyone in the health care industry will scream rape. Because we all know that a 15 minute out patient procedure should cost 7,000$ (carpel tunnel).

So let me get this straight, just so I understand.

Obama starts pushing a measure to control medical costs, including prescriptions, insurance, etc. and it is protested on the streets, destroyed and gutted by Congress until it's nothing more than a shell of the original ACA, and the people hate it, crying out socialism!

Now Trump makes a statement along those same lines, and it's the greatest idea in the history of the Presidency. Finally, someone wants to do something about healthcare!

Jesus...

a reply to: seasonal

Single payer may be cheaper, it would take a study of all the single payer systems around the globe and put the best of all of them in our system.

Suppose a single payer system.
The highest paid administrator gets a salary of $250,000.00 per year, no bonus.

Compare: 200 insurance companies with 3 executive level people making $10,000,000 per year, plus another $5,000,000 bonus per year.

$250,000 versus $90,000,000 per year top administration fees. That's only an example. Actual disparity of non-medical costs is much higher.

The only actual study that I could find was by a pro-private insurance group showing how top executive pay was a bargain when broken down as $2.50 - $4.00 per month per payer into the insurance companies policies.

a reply to: pthena

The executives are geniuses, at the hospitals and the insurance companies. They are going to raise the price of medical care so high that they will get fired. Booo hooo, they will collect their 10,000,000 $ get the F out of here we are firing you bonus.

Remember the executives have contracts to work, but the hourly people don't need contracts, trust them.

a reply to: seasonal

they will collect their 10,000,000 $ get the F out of here

Oh yeah, I forgot the golden parachutes, that money comes from payers too.
-------------------
Allergan Brent Saunders $140,672,343
Aetna Mark Bertolini $91,381,097
Regeneron Pharmaceuticals Leonard Schleifer $90,277,657

Source
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Let's not forget the save a heroin addict pens that every municipality seems to need in abundance at 100$ a pop. Just to save unemployed, uninsured, garbage....

a reply to: pthena

Quiet you. You think too much and make it crystal clear that sometimes everyone going after their own selfish ambitions doesn't work.

a reply to: Natas0114

Only 100 $? Better hope Mylan the maker of Epipen gets their little dirt diggers on that. That is worth at least 400$, that needs to be monetized.