Big Pharma
Sadly, we are in a world where an increasing number of people get their “NEWS” from a social media platform, instead of a credible source.
“Feelings” – Instagram
“When TrumpRx launched in February, it joined a chorus of websites claiming to have deals on prescription drugs. Despite the hype, many of the medicines on TrumpRx include brand-name drugs that patients can find cheaper elsewhere, as generics.
For instance, Protonix for heartburn and gastroesophageal reflux disease is available for $200 on TrumpRx. But the generic version, called pantoprazole, costs less than $30 with a coupon from GoodRx, another drug discount website. And depending on the health plan, using insurance could mean a $5 or $0 copay.”
“Facts” – Investigation
Pharmaceutical companies, mostly in the USA and Europe, develop and patent “miracle drugs” for which they charge high prices in order to recover their development costs within the patent periods – usually 20 years. The situation is made worse by FDA trials that eat up half of the 20 years before they can get to market. During the remaining time, the same drugs are offered in 3rd-World countries for much less, making USA prices even higher.
After the patents have expired, others can sell the equivalent “generics” for a fraction because they have no development cost to recover.
Canadian pharmacies often have lower prices, but there is another, little-known way around the high prices of brand-name drugs. Doctors know about it and can help patients navigate the online pharmacies that negotiate volume prices with manufacturers and sell directly to the public on obscure websites like Transition and Truax. Ask your Doctor.
In summary, the TrumpRx thing has nothing to do with the generic drug market. Instead, it forces the drug companies to offer new, brand-name, patented drugs at the same prices in the USA as the lowest price anywhere in the world. That means huge savings for Americans who would otherwise suffer or worse, having no alternative.
But wait – there is more to the story. Since 51.2% of prescription drugs in this Country are effectively purchased by the federal government to be provided through Medicare and Medicaid, those additional savings amount to another half of the $467 billion total, reducing the deficit and tax burden by that amount. The only losers in this scenario are the NGOs, who skim a percentage off those lower prices to serve the 3rd-World countries – one more invisible tax on Americans.
The account on the left is a critique, attempting to discredit Trump, while the one on the right is a factual account, neither being particularly newsworthy. But the irony is that without the “evil” profit-seeking drug companies risking millions to develop such drugs, none would exist at any price. Does anyone think the next life-saving cancer drug will come from Russia or Cuba?