{"id":2016688,"date":"2023-08-30T12:17:02","date_gmt":"2023-08-30T16:17:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-law-of-unintended-consequences-cant-be-repealed\/"},"modified":"2023-08-30T12:19:26","modified_gmt":"2023-08-30T16:19:26","slug":"the-law-of-unintended-consequences-cant-be-repealed","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-law-of-unintended-consequences-cant-be-repealed\/","title":{"rendered":"Unintended consequences are inevitable."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">8<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthe-law-of-unintended-consequences-cant-be-repealed%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2016688&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Medicare Takes Aim at Prescription Drug Prices<\/h2>\n<p>The Biden administration made a bold move this week by announcing that Medicare will directly negotiate \u200bthe prices of \u206410 prescription\u200c drugs. These drugs,\u200d including Jardiance for\u2062 diabetes, Entresto for \u200dheart failure, \u2064Imbruvica for blood cancer, and Stelara for psoriasis, have been identified as major contributors to Medicare Part D <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/why-democrats-must-drop-drug-price-controls\/\" title=\"Why Democrats Must Drop Drug Price Controls\">prescription costs<\/a>.<\/p>\n<blockquote>\n<p>&#8220;There is no reason,&#8221; \u2063President Biden stated, &#8220;why Americans \u200dshould be forced\u2063 to \u2064pay more \u200cthan any developed nation for life-saving prescriptions just to pad Big\u200d Pharma&#8217;s \u200bpockets.&#8221;<\/p>\n<\/blockquote>\n<p>However, there is more to this story than meets the eye.<\/p>\n<h3>The High Cost of Drug Development<\/h3>\n<p>It&#8217;s important to recognize\u2062 that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/to-eradicate-aids-dems-can-learn-a-lot-from-republican-presidents\/\" title=\"To Eradicate AIDS, Dems Can Learn a Lot from Republican Presidents\">drug development<\/a>\u2064 is \u2063an incredibly expensive \u2063process. In 2019 alone, the \u200cpharmaceutical\u200d industry\u200d spent a staggering $83\u2063 billion on research and development. A study\u200c conducted in 2020 revealed that the average cost of developing a new <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/abbott-moves-to-end-big-tech-viewpoint-censorship-un-american-and-soon-to-be-illegal-in-texas\/\" title=\"Abbott Moves To End Big Tech Viewpoint Censorship: \u2018Un-American\u2019 And \u2018Soon To Be Illegal\u2019 In Texas\u00a0\">therapeutic drug<\/a> or biologic agent was $1.3 billion. This cost takes into account the expenses incurred from failed \u2064trials, making it a risky and costly endeavor.<\/p>\n<p>While Americans bear the brunt of these expenses, other countries benefit from the fruits of American drug development without \u200ccontributing\u200d their fair share. The United States accounts for a significant portion of prescription\u2063 drug \u2062spending and\u2064 GDP among \u200binnovator countries. Additionally, the pharmaceutical and medicine\u200b manufacturing industry provides hundreds of thousands\u2064 of jobs.<\/p>\n<h4><a href=\"https:\/\/www.dailywire.com\/show\/the-ben-shapiro-show\">WATCH: The Ben \u2064Shapiro Show<\/a><\/h4>\n<p>So, what will these new\u2062 regulations actually achieve? According to National Review&#8217;s Jeff Zymeri, if implemented, they could lead to a decline in drug development. The Congressional\u200b Budget Office predicts a potential 15% loss in manufacturer revenue, \u200cresulting in fewer new\u200c drugs\u200d being brought to market. This would particularly <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-law-of-unintended-consequences-cant-be-repealed\/\" title=\"Unintended consequences are inevitable.\">impact drugs targeting rare conditions<\/a>, which have a smaller market.<\/p>\n<p>As \u2063an investor in biotech stocks, I can confidently say that these regulations would discourage investment in the sector. Why would investors risk their\u2063 money on \u2063a\u2062 drug if its success would only lead to diminished\u2063 profits?<\/p>\n<p>There is an alternative\u2064 solution: holding other countries accountable for \u200dtheir fair share of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/what-you-need-to-know-about-trumps-latest-drug-pricing-moves\/\" title=\"What You Need To Know About Trump\u2019s Latest Drug Pricing Moves\">drug costs<\/a>. By ensuring that Americans pay similar prices to \u200bthose around the world, we \u2064can maintain incentives for innovation.\u2064 However, this would \u200drequire politicians to confront the realities of the global market, which is\u200c unlikely to happen.<\/p>\n<p><a href=\"https:\/\/onelink.to\/dwapp\" target=\"_blank\" rel=\"noopener\"><strong>CLICK HERE TO GET THE DAILY WIRE \u2062APP<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Biden administration revealed plans to negotiate prices directly with Medicare for around 10 prescription drugs this week. Among them are Jardiance for diabetes, Entresto for heart failure, Imbruvica for blood cancer, and Stelara for psoriasis. Companies unwilling to comply with Medicare&#8217;s terms may be compelled to withdraw from the program.<\/p>\n","protected":false},"author":161,"featured_media":2016689,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-2016688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2016688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/161"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2016688"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2016688\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2016689"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2016688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2016688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2016688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}