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Trump also placed blame on foreign governments, which negotiate lower drug prices than in the U.S., saying they “extort” unreasonably low prices from U.S. drugmakers.
So Trump/Republicans have let Americans be ripped off since Jan,2017.
Who's been in charge for that period?
Did they do anything on day one?
Shares of the major U.S. companies in each of those sectors rose after the speech, with the S&P 500 healthcare sector .SPXHC, a broad gauge of large healthcare stocks, up 1.4 percent.
Trump is keeping every damn promise he made.
https://www.c-span.org/video/?c4579839/trump-drug-prices
That's actually a great video of Trump.
No, pharmaceutical companies simply lie about the cost of R&D because it's an important rationalization for screwing the public.
Actual drug development costs are quite low.
http://www.slate.com/articles/business/the_customer/2011/03/the_makebelieve_billion.html
That kind of tells one who is going to benefit from T's plan,no? I was again disappointed (not surprised) with the man of who was going to help the neglected worker the long suffering American little guy. After promising the He was the only candidate that wasn't in big pharma's pocket and that by negotiating directly with the drug companies he could save 300 billion a year he now goes in a totally different direction. He now thinks he can save money by getting other countries (which is basically the rest of the world) to stop negotiating with the drug companies, good frigin luck with that Mr. Isolationist. Is that a joke, to get the rest of the world to pay these rapists more so we can pay less? Moron/Idiot.
The economic populism has been very disappointing: no infrastructure program (it now cant happen due to the deficits caused by the tax cuts IMO), no removal of carried interest deduction in the tax plan they passed (he promised this), huge tax cuts for corporations...
Which drug companies should I short?
Mylan comes to mind first.
It is a good video, Its partially how he got elected, unfortunately it doesn't reflect the plan announced today. This current plan is a pretty big F.U.to those who supported his economic populist promises, but I doubt they care and I think he knows that.
Why would anyone have a problem with Trump implementing policies that that lower drug prices?
No doubt we subsidize the rest of the world because the rest of the world, through their government(s) negotiates with the drug companies for lower prices. But Trump's plan refuses to negotiate, though he promised to do so during the election, so why is that? It works for every other country. His idea is to get other countries to pay more so we get charged less but even if he by some miracle of arm twisting he succeeded in getting other countries to pay more why does that translate into lower prices in the USA (other than window dressing) and not just higher profits for pharma? It is a truly idiotic idea that relies on two nearly impossible scenarios: the first that other counties will charge their people more, directly or through taxes and second that pharma companies will voluntarily reduce the cost of a product on which they base their profitability.
I suggest you bone up on the topic.
WE pay MORE to make up for the government-imposed low prices Canada and the rest of the world force the drug companies to sell at. If we didn't, then those firms could not recoup R & D costs let alone make a profit.
Other than pharma and related companies in the health care industry no one, but judging by the stock market reaction and the overall general weakness of the Trump plan, significantly lower prices are not going to happen. I
No doubt we subsidize the rest of the world because the rest of the world, through their government(s) negotiates with the drug companies for lower prices.
Shares of the major U.S. companies in each of those sectors rose after the speech, with the S&P 500 healthcare sector .SPXHC, a broad gauge of large healthcare stocks, up 1.4 percent.
rdm says
No doubt we subsidize the rest of the world because the rest of the world, through their government(s) negotiates with the drug companies for lower prices.
Do you honestly believe drug companies are selling billions of dollars worth of drugs at a loss around the world. They are selling at a reduced profit. The American taxpayer is subsidizing research for the rest of the world since most basic research is taxpayer funded, but drug companies are certainly not sending that money back to the government from their high US profits so it's meaningless. A big chunk of pharma research is spent on tweaking existing drugs to extend patents, not new drugs.
Do you honestly believe drug companies are selling billions of dollars worth of drugs at a loss around the world.
Yes, we discover and subsidize drugs for the whole planet. I don't mind poor countries not paying as they don't have much money anyway, but the richer countries need to start paying their fair share.
But as far as investors are concerned in a risk / reward scenario without that pop from Americans the risk is too high. Clear enough?
Obamacare was just an attempt to do what most other countries in the world do with their health care systems, which is to provide affordable health care to as many people as possible, educate people on healthy lifestyles, and heal with nutrition, etc, -
https://www.reuters.com/article/us-usa-trump-drugpricing/trump-blasts-drugmakers-middlemen-for-high-us-drug-prices-idUSKBN1IC2C0
Naturally the Media is full of pooh-poohing it all. But a small step in the right direction. I guarantee you President Booker wouldn't even go this far.