NEWS AND COMMENT
Drug Makers Raise Prices in Face of Health Care Reform
By DUFF WILSON
Published: November 15, 2009
Even as drug makers promise to support Washington’s health care overhaul by shaving $8 billion a year off the nation’s drug costs after the legislation takes effect, the industry has been raising its prices at the fastest rate in years.
COMMENT - my suspicious posting last August 6th:
WHITE HOUSE CONFIRMS DRUG DEAL
White House officials on Wednesday assured drug makers that the administration stood by a behind-the-scenes deal to block any Congressional effort to extract cost savings from them beyond an agreed-upon $80 billion. $80 billion over 10 years. $8 billion per year, which may or may not be much of a burden on the drug corporations.
Don't know how it works. Reducing profit on a prescription from 300% to 150%? Or can a drug company say it was going to charge $50 for each pill of a new product, but will charge $35, saving patients all that money? But apparently this deal is supposed to prevent the government from negotiating prices for 10 years and will prevent importation from Canada for 10 years.
It's hard to see that this is a good deal, let alone the question of what could otherwise be achieved in a 10 year period. A risky arrangement. And will this stop hospitals from charging $30 for one aspirin?
Drug Makers Raise Prices in Face of Health Care Reform
By DUFF WILSON
Published: November 15, 2009
Even as drug makers promise to support Washington’s health care overhaul by shaving $8 billion a year off the nation’s drug costs after the legislation takes effect, the industry has been raising its prices at the fastest rate in years.
COMMENT - my suspicious posting last August 6th:
WHITE HOUSE CONFIRMS DRUG DEAL
White House officials on Wednesday assured drug makers that the administration stood by a behind-the-scenes deal to block any Congressional effort to extract cost savings from them beyond an agreed-upon $80 billion. $80 billion over 10 years. $8 billion per year, which may or may not be much of a burden on the drug corporations.
Don't know how it works. Reducing profit on a prescription from 300% to 150%? Or can a drug company say it was going to charge $50 for each pill of a new product, but will charge $35, saving patients all that money? But apparently this deal is supposed to prevent the government from negotiating prices for 10 years and will prevent importation from Canada for 10 years.
It's hard to see that this is a good deal, let alone the question of what could otherwise be achieved in a 10 year period. A risky arrangement. And will this stop hospitals from charging $30 for one aspirin?
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