Democrats just passed a budget plan that would give federal bureaucrats the ability to negotiate drug prices with manufacturers.
To the uninitiated, that sounds good. Who wouldn’t want to pay …
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Democrats just passed a budget plan that would give federal bureaucrats the ability to negotiate drug prices with manufacturers.
To the uninitiated, that sounds good. Who wouldn’t want to pay less for medicine?
In reality, negotiations won’t lead to lower prices. They will lead to less lifesaving medicine today and fewer tomorrow.
When Big Government tells private businesses what they can charge for products, that’s price control.
Government negotiators will only work if patients’ access to drugs is diminished. Certain drugs just won’t be available to seniors.
The strongest argument against drugprice controls is its effect on innovation. Drug makers must gain a return on investment. Reduced revenues that result from reduced prices will mean reduced investment into new treatments and cures.
These negotiations would be a scam. The “$500 billion savings” the Democrats claim will result will pay for billions in spending on the Green New Deal.
The real debate is between those who would protect a law that safeguards seniors and those with disabilities, versus those who would end it for cheap political points.
Saul Anuzis is President of 60 Plus, the American Association of Senior Citizens.
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