{"id":2018912,"date":"2023-09-01T02:13:02","date_gmt":"2023-09-01T06:13:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dont-let-the-feds-control-drug-pricing-that-new-drug-you-need-might-not-get-developed\/"},"modified":"2023-09-01T02:18:31","modified_gmt":"2023-09-01T06:18:31","slug":"dont-let-the-feds-control-drug-pricing-that-new-drug-you-need-might-not-get-developed","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dont-let-the-feds-control-drug-pricing-that-new-drug-you-need-might-not-get-developed\/","title":{"rendered":"Prevent Federal Control of Drug Pricing to Ensure New Drug Development."},"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\">22<\/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%2Fdont-let-the-feds-control-drug-pricing-that-new-drug-you-need-might-not-get-developed%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=2018912&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>Is\u200c Free Medicine Really Possible?<\/h2>\n<p><span style=\"font-weight: 400\">There\u2062 is no such thing as a free \u2064lunch, \u2062but there are a lot of people out there who believe there \u2063is such a thing as\u2064 free medicine. The case they make is that Big \u200bPharma in the United States makes a lot of money.<\/span><\/p>\n<p><span style=\"font-weight: 400\">It is true that there are a lot of problems \u2064with Big Pharma; there are drugs that are\u2062 marketed as though \u2064they are \u200damazing for people but aren\u2019t, the most obvious example being OxyContin. But \u200bit is <\/span><i><span style=\"font-weight: 400\">also<\/span><\/i><span style=\"font-weight: 400\">  \u200d true that every single drug you take was \u200cdeveloped by Big Pharma. <\/span><i><span style=\"font-weight: 400\">Every<\/span><\/i><span style=\"font-weight: 400\">  single medicine \u200cyou take was developed \u2063by Big Pharma. Big Pharma is responsible for OxyContin\u200d \u2014 but they\u2019re also responsible for Advil.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Big Pharma is responsible for the MMR vaccine that you didn\u2019t want to take \u2014 but Big Pharma \u200bis also responsible for all of the chemotherapy medications that your mother may \u2064be\u2064 taking. And the medical advances in \u200bthe United\u200d States have \u200cled to\u2064 a tremendous expansion of life expectancy in the United States; the five-year\u2063 cancer survival rate in the\u200c United States is much higher than anywhere else on Earth, because we have better medicines than anywhere else on Earth.<\/span><\/p>\n<p><span style=\"font-weight: 400\">We develop a huge number of medical \u2064patents right here in the United States. The reason for that is because when it comes\u200c to drug pricing,\u200d the United States is possibly the last country on Earth that actively allows patients and doctors to buy\u200b drugs\u2064 at the price that Pharma is selling them, rather\u200b than\u2062 the \u2064government cramming \u200bdown particular pricing. This has been a bugaboo\u2062 for\u2062 a lot of politicians because \u200dthey \u200dlook at Canada, Germany, Europe,\u200b or any place \u200delse \u2064on Earth and say, \u201cWell,\u200b they\u2019re buying those \u200bAmerican drugs for far\u200c less than we are paying for those American drugs.\u201d<\/span><\/p>\n<h3>The Impact of Government Involvement<\/h3>\n<p><span style=\"font-weight: 400\">Yesterday, the U.S. \u2064government \u200dnamed\u200d 10 drugs\u2064 that will be subject to the first-ever \u200bprice negotiations by Medicare, taking aim at some of the\u2062 most widely used and costly medicines in the country. The 10 drugs include many\u2064 drugs fighting diabetes, an arthritis drug from Amgen called \u2064Enbrel, and the psoriasis drug from\u2063 Johnson\u200b and \u2064Johnson.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Joe Biden is\u200d very excited about all of this. He\u2064 says we pay much more\u200b for prescription drugs than any other economy in the \u2063world. That\u2019s true, but \u2014 the reason that\u2019s\u200b true is because\u2062 the United States has allowed a bunch of other countries to free ride off the prices that Americans are paying.<\/span><\/p>\n<h4><a href=\"https:\/\/www.dailywire.com\/show\/the-ben-shapiro-show\" target=\"_blank\" rel=\"noopener\">WATCH: The Ben Shapiro Show<\/a><\/h4>\n<p><span style=\"font-weight: 400\">So what exactly would\u200d be the downstream effects of the feds getting \u200binvolved in\u200b drug pricing? According to the Wall\u2064 Street Journal,\u200b lower prices. \u200dMedicare would save an estimated\u2062 $25 billion a \u2062year by 2031.\u200b The\u200d savings would \u200dmostly go to\u2062 Medicare because it pays the bulk of the cost\u200b of the drugs. The reductions wouldn\u2019t \u2062directly affect the price patients pay at the pharmacy counter. But \u200bthe\u2064 price cuts would have \u2062an indirect impact on people\u2019s spending. Medicare plans to\u2063 use the savings to put a \u200d$2,000 annual cap on how much members have to\u200c pay out of pocket\u200d for drugs starting in 2025.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This\u200b sounds like an unalloyed good, right? Everything is great. It\u2019s awesome.<\/span><\/p>\n<p><span style=\"font-weight: 400\">There\u2019s\u2063 only one problem: \u2062Medical innovation in the United States is about to crater. \u2064And when\u200c the government\u200c can cram\u200c down pricing in any \u200bparticular\u200b area\u2063 and remove the profit margin from the actual \u2063pricing \u2063mechanism, \u200cthat means people are not going to invest the kinds of money necessary\u200c in order to create the drugs in the first place.\u2064 This is similar to the\u200c way that rent control decreases the\u200c number of people building and \u200bconstructing. Why would you build\u200d a \u2063new apartment knowing there\u2019s no \u2063profit \u2062in \u2064it? The investment in\u2063 the biotech \u200bsphere is going to utterly dry\u2064 up if \u2062the government, via Medicare, continues to force \u200dpolicies like this one.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Here is the thing that people are not seeing:\u200c The amount of money that\u2063 is put into Research and Development \u2063on developing \u200dand producing drugs is\u2062 insane. \u2062The amount of money that is sunk into biotech to develop a\u200b working drug is totally crazy. If you remove \u200dthe profit margin from these companies,\u200c there will just be less investment in this \u2062sphere. Drugs that would have been produced just will\u2063 not\u2064 be \u200bproduced.<\/span><\/p>\n<p><span style=\"font-weight: 400\">When the \u200dgovernment simply names \u2064prices \u200dfor drugs and then \u2063the price \u2064magically comes down, \u2064the prices on those drugs will indeed come down, but \u2062what you <\/span><i><span style=\"font-weight: 400\">won\u2019t<\/span><\/i><span style=\"font-weight: 400\">  see is the\u2064 drugs that will never be developed.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In 2019 alone, the \u2062pharmaceutical industry spent <\/span><i><span style=\"font-weight: 400\">$83 billion<\/span><\/i><span style=\"font-weight: 400\">  on research and development, according to one\u200c 2020 study, which covered \u2064632 new therapeutic drugs and biologic agents\u2063 approved \u2063by the FDA. The estimated median capitalized research and development\u200c cost per product was $985 million, counting expenditures on\u200b failed trials, which\u2063 should count\u2064 because \u200dthe vast majority of drugs \u2063that are \u200coriginally developed never make it\u200d to\u2062 market. Somewhere between 85% and 90% of all drugs that\u200c enter phase one testing never make it through the FDA approval process. But they\u200c still cost a fortune.<\/span><\/p>\n<p><span style=\"font-weight: 400\">That means, for every\u200c drug that\u2064 actually hits\u200d the market \u2014 and it\u2019s\u2063 not that many drugs every year,\u2064 maybe a\u2064 dozen \u2014 it\u2019s\u2064 costing roughly $1 billion by some\u2063 estimates, while others\u200c estimate the cost to be between $1.3. and $2.4 billion\u200c a year\u200c to develop each one of those\u200c drugs.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Why would the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dont-let-the-feds-control-drug-pricing-that-new-drug-you-need-might-not-get-developed\/\" title=\"Prevent Federal Control of Drug Pricing to Ensure New Drug Development.\">pharma companies spend billions creating<\/a> a drug or risk hundreds \u2063of millions of dollars\u2064 on drugs that aren\u2019t ever going to make it out of phase three? The \u200creason is that \u200don \u200bthe \u2063other end, there has to be some sort of way to earn back that money.\u2062 What exactly would happen if \u2062Medicare\u200d gets away with cramming\u200c down this pricing structure? Drug\u200c development \u200cwould plummet.<\/span><\/p>\n<p><span style=\"font-weight: 400\">There\u2019s another solution: \u2062Aggressively make other \u2064countries pay their fair share when it comes to American medication.<\/span><\/p>\n<p><span style=\"font-weight: 400\">We could use every lever at our disposal in order to do that. This is where a trade war\u2062 would be useful. Say to Canada or to the National Health Service, \u201cYou guys are going to pay American \u2062companies what we pay here in the United States.\u201d America\u2063 is subsidizing the rest of \u2062the world\u200b when \u2064it comes \u200dto drug creation. \u200bBut the \u2063solution to \u2064that is \u200c <\/span><i><span style=\"font-weight: 400\">not<\/span><\/i><span style=\"font-weight: 400\">  the American\u200d government\u200c cramming down\u200c a \u2062<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/g20-endorses-fossil-fuel-reduction-through-carbon-pricing\/\" title=\"G20 Endorses Fossil Fuel Reduction Through \u2018Carbon Pricing\u2019\">pricing mechanism<\/a> \u2064on Big Pharma \u2063companies,\u2062 <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 companies<\/a>, \u2064and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dea-to-hold-listening-sessions-over-online-prescription-restrictions\/\" title=\"DEA to host 'listening sessions' on online prescription limits.\">medicine companies<\/a>. <\/span><span style=\"font-weight: 400\"> <\/span><\/p>\n<p><span style=\"font-weight: 400\">When \u2064you\u2064 do that, you get\u200d rid of all the innovation.<\/span><\/p>\n<p><a href=\"https:\/\/onelink.to\/dwapp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">CLICK HERE TO GET\u200c THE DAILY WIRE APP<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There&#8217;s no free lunch, yet many believe in free medicine. Their argument: Big Pharma in the US earns big bucks. True, there are numerous issues.<\/p>\n","protected":false},"author":161,"featured_media":2018913,"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-2018912","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\/2018912","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=2018912"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2018912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2018913"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2018912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2018912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2018912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}