A federal court judge in Ohio denied Friday an attempt by the US Chamber of Commerce to immediately stop the Biden administration’s implementation of Medicare’s new drug price negotiation program.
The ruling was the first time a federal court has weighed in on the multiple lawsuits filed against the controversial program.
The chamber filed a lawsuit in June arguing that allowing Medicare to negotiate drug prices is unconstitutional for several reasons. It then asked for a preliminary injunction to halt the program by October 1, when drug makers have to agree to participate in the program.
“As to Plaintiffs’ motion for a preliminary injunction, they have demonstrated neither a strong likelihood of success nor irreparable harm,” wrote Judge Michael Newman of the US District Court for the Southern District of Ohio, in Dayton.
The Candian government has done this for years. Drug prices in Canada are often a fraction of what they cost in the US.
The drug companies swore that they would stop selling drugs in Canada if they weren’t allowed to set prices in Canada as high at possible buy they’re so fucking greedy that they will take $5 of profit instead of $1,000 and instead of withdrawing from the market and making $0.
you mean, theyre forced to accept profit margins that arent stupid?! amazing!
and god forbid some life-requiring things be made and sold at cost… someones gotta get their Extra
Yes, and they aren’t allowed to raise the price of a drug unless they can show a proportionate increase in the benefit to the patient.
Just a reminder. The “US Chamber of Commerce” is a
lobbyistprivate entity.Right. I was thinking dept of commerce, but they are very different groups.
|Among the arguments are that the program violates the Fifth Amendment’s “takings” clause because it allows Medicare to obtain manufacturers’ patented drugs, which are private property, without paying fair market value under the threat of serious penalties.|
This is an invalid argument, because currently the companies are receiving unfairly inflated market value, and Medicare plans to negotiate down to a fair level.
unfairly inflated
Not according to the poor drug companies. According to them the prices are far too low.
I wonder what their argument is for being able to go to other countries and sell drugs three to four times less than in the states.
allowing Medicare to negotiate drug prices is unconstitutional** for several reasons. It then asked for a preliminary injunction to halt the program by October 1
wtf kinda colonialism bullshit is this. Negotiating price points is unconstitutional?
confused Boston Tea Party noise
Can’t believe this is even serious. Though fitting given how our country’s healthcare is the antithesis, a complete joke.
An argument I often hear to justify sky-high drug prices is that developing new drugs is incredibly expensive. Additionally, hundreds of millions of dollars are spent on research that simply doesn’t pan out.
What’s a fair way to fund research while still keeping drug costs reasonable?
Much development is being done at public research universities leveraging government grants. Most of what these companies pay for is packaging, marketing, and distribution
Thank you. I don’t know much about the drug development process, besides what the drug companies want me to hear.
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This is patently false. Do some research on the clinical development process. Running trials is neither cheap nor easy. You can’t just go from lab to store shelves. You have to run phase 1, 2, and 3 studies to prove it is safe and works.
I’m not arguing against being able to negotiate drug prices, by the way. The government should do that.
Source that research isn’t funded publicly?
I didn’t say that there isn’t publicly funded research. There is both public and private. The claim that private companies do nothing but package and manufacture is not in line with reality, however.
I’ll speak on one from personal experience. I have been on a med most of the last 20 or so years for a chronic illness. I believe the drug hit the market in 1997 and as of 2018 was still making the company 1.7 billion dollars a year. That 1.7 was actually 44% lower than in 2017. Looking briefly now it is finally taking in less than 1 billion a year, but still 800 million. It isn’t dropping in revenue because they lowered the price. It is because other meds have been introduced so they have a lot more competition.
There was even an event where press asked the CEO about having made back their development costs and then some, which he agreed they had, would they then lower the price? He said there was no reason to lower the price as it was a huge revenue source for them.
Over 20 years later the costs for it continued to climb rather than lower. Costs for it estimated at 10k per patient in 1997 and around 70k now per year.
