Why does big pharma support a cap on Medicare drug costs?

“We would like to see a balanced drug pricing bill emerge from the Congress this year,” Stephen Ubl, CEO of the Pharmaceutical Research and Manufacturers of America, told AP in a recent interview. He later added that “our industry understands that there is going to be some pain involved in the process.”

Why is the drug industry willing to put up with the so called pain of a cap on Medicare drug costs?

Because by capping the price of drugs for those using Medicare D they are hoping to block controls on drug costs, allowing them a free hand in charging Medicare and everyone else whatever they want.

They are hoping we will stop complaining instead of demanding action.

Medicare spends upward of $200 billion a year on prescription drugs, a category that keeps growing as costly new drugs enter the market. An Alzheimer’s medication approved this past week comes with a price of $56,000 a year, for example, and co-payments could skyrocket for patients who use it.

Some Democrats in Congress want Medicare to have the power to negotiate drug prices.

Bernie Sanders goes further. Sanders wants to negotiate drug prices and use Medicare’s savings to create new benefits for dental, vision and hearing coverage. That would represent an historic expansion of Medicare.

I am so with Bernie on this.

2 thoughts on “Why does big pharma support a cap on Medicare drug costs?

  1. Politicians from both parties could easily satisfy the medical needs of their constituents if they chose to not accept the personal donations (legalized bribes) from the Healthcare Industrial Complex via lobbyists and other dark money sources.

    I once had a dentist tell me that he could tell the general health and the socio-economic class of his patients when he examines their teeth. He also told me that insurance actuaries use dental records among groups of people when they figure out their general healthcare needs and their life expectancy charts.

    That is why other countries provide universal healthcare that includes dental, hearing and vision care.
    America is NOT #1 for its citizens, but we could be. I wish we could clone Bernie and fill congress with them.

  2. Bernie was our last and best hope to right the ships known as the USA.

    Corporate Democrats and the MSM did all they could to ensure he would NOT win.

    the New York Times’ “reporter” assigned to cover his campaign was Sidney Ember. Her biased coverage on behalf of Wall Street served them well; the rest of us, not so much.

    https://www.jacobinmag.com/2019/07/bernie-sanders-sydney-ember-new-york-times

    Yet after he conceded the primary to Corporate Joe – when Bernie was no longer the threat to Establishment Dem – the Times ran an op-ed titled “Bernie Was Right.”

    “Bernie Sanders has ended his campaign for the Democratic presidential nomination, which is a tragedy, because he was right about virtually everything. He was right from the very beginning, when he advocated a total overhaul of the American health care system in the 1970s. He remains right now, as a pandemic stresses the meager resources of millions of citizens to their breaking point, and possibly to their death. He was right when he seemed to be the only alarmist in a political climate of complacency. He is right now that he’s the only politician unsurprised to see drug companies profiteering from a lethal plague with Congress’s help.”

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