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About those anti drug price setting ads [1]
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Date: 2022-08-09
No doubt you've seen those TV ads against “drug price setting.” The ones that moan about price setting cutting off research on new drugs.
They infuriate me. They are based on the fantasy that drug companies have to charge sky-high prices to support research.
But truth be told, there's only one drug that anyone is proposing price setting for — insulin.
The rest is allowing Medicare to *negotiate* prices. You know, like Canada does. The drug companies will still have enough leverage to stay profitable.
But about that price cap for insulin. No U.S. drug company had any hand in inventing insulin. It was developed by two Canadian scientists who won the Nobel prize for medicine in 1923.
The cost of insulin today is simply unconscionable. And Senate Republicans got part of the “insulin cap” removed from the IRA. It no longer covers private insurers. Only Medicare. And it could still be eliminated went the bill goes back to the house.
There is no excuse for diabetics dying because they can't afford insulin. There is no justification for U.S. drug companies to charge Americans higher prices than the rest of the world for life sustaining medicine.
This has to stop.
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