In response to a furor over medicines discovered with taxpayer dollars, Sen. Bernie Sanders (I-Vt.) is proposing a new rule to require drug makers to charge fair prices.
The move would force federal agencies and federally funded nonprofit institutions, including universities, to negotiate a reasonable pricing agreement before granting exclusive rights to make prescription drugs.
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Senator has a good idea but BIG PHARMA who have had taste of blood (profits) is not going to give in easily. They could easily refuse to bring drugs to the market. If that happens, Generics should be given the right to go forward and commercialize such drugs.
There are a number of markets that would actually make sense to pull out of if we don’t get our price, and when that happens this “fair pricing concept” goes away. For example, Canada is such a small market that it costs more to hassle with Health Canada then it is worth. And when you have the market leader they stand up and listen. For example in the 1990’s Synthroid was the market leader and we were getting 30 cent’s a pill in the US vs 3 cents a pill for the inferior quality LT4’s. When we didn’t get our price over the border we internally discussed pulling the product from Canadian shelves, leaving 800,000 Canadian hypothroids without a real alternative. You are right, pharma is like the Great White. When the blood is in the water the PharmaSharks get their way.
Maybe Jane Sanders get fair pricing on the fine she pays for bilking the sate of Vt.