Elizabeth Warren: It’s time to let the government manufacture generic drugs
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Forty-seven states and the Justice Department are investigating a price-fixing conspiracy that’s driving up the cost of generic drugs in the United States. One investigator called it “most likely the largest cartel in the history of the United States.” This crisis calls for action. That is why I’m introducing legislation to authorize the public manufacture of generic drugs wherever drug companies have warped markets to drive up prices.
Drug companies use the “free market” as a shield against any effort to reduce prices for families. But they’re not operating in a free market; they’re operating in a market that’s rigged to line their pockets and limit competition. The entire pharmaceutical industry in reality runs on government-granted monopolies, mostly in the form of long-term patent protections.
This system, intended to compensate drug companies for innovation costs, should be closely scrutinized. One of its few remaining virtues is supposed to be that when these exclusive monopolies run out, market competition kicks in to produce cheap, generic versions for consumers. Sounds great — but it isn’t working.
Antibiotics, steroids, heart medications, thyroid pills — nearly 90 percent of American prescriptions are written for generics. But the generic drug market is fundamentally broken.
December 18, 2018 at 2:29 PM #1962
December 18, 2018 at 11:00 PM #2245sonofspy777Participant
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Cheaper, better quality…what’s not to like?
“Never argue with a fool, onlookers may not be able to tell the difference.”
December 18, 2018 at 11:14 PM #2246
December 18, 2018 at 11:36 PM #2248retired liberalParticipant
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They are not even repackage for Canada.
If we did not have such a corrupt, bought and paid for government, we could have real health care, i.e., Single Payer, with reasonable cost drugs and medical devices.
“Your Money, or Your Life” health care businesses, would be prison sentences for the CEO’s and board members.
We are an arrogant species, believing our fantasy based "facts" are better than the other person's fake facts.
If you are wrong, it will be because you are not cynical enough.
The older we get, the less "Life in Prison" is a deterrent.
Always wear a proper mask when out and about. The life you save could be both yours and mine.
December 19, 2018 at 12:31 AM #2265
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