"Where there is no vision, the people perish: but he that keepeth the law, happy is he."
-- Proverbs 29:18, King James Bible (KJV)

Thursday, August 01, 2019

The White House 1600 Daily Has Made a Very Significant Announcement on Prescription Drug Costs - A Plan to Allow Imports of Cheaper Drugs Sold Abroad

Health is Wealth. Bravo to the Trump Administration for this action.

The American President's White House 1600 Daily on July 31, 2019 has made one of its most important announcements ever, impacting the lives of many Americans, and, for many of those citizens still in doubt, giving undecided voters a very strong reason to re-elect Donald Trump as President of the United States. He is working for the benefit of the common man. As written there:
"The Trump Administration’s new plan, announced this morning, will allow companies to import drugs sold in other countries—including Canada—to save Americans money. Manufacturers can now bring the lower-cost versions of drugs they sell abroad to the United States, so long as the FDA verifies the medicines are identical and meet safety standards."
This type of re-import has long been the practice in Europe and has over the years led to significant reductions in the prices of medicinal drugs sold in local pharmacies, since domestic drug prices have had to be adjusted significantly downward to avoid losing too many customers to much cheaper re-import competition.

By the way, don't worry about the health of the pharma industry in the aftermath of this plan. Drug companies will still profit billions, regardless of what is done, due to advantages for medicines provided by prevailing patent laws.

Americans pay far more money for medically required drugs than those same drugs cost overseas. As the 1600 Daily correctly notes.
"Foreign countries buy drugs at substantially lower prices, meaning American patients subsidize the cost of the expensive drug research and development for the rest of the world. Many times, medicines that cost hundreds of dollars in the U.S. cost as little as a few dollars overseas. Time and time again, our own citizens get the worst deal."
The 1600 Daily continues:
"Big Pharma doesn’t want that to change, but “President Trump listened to the American people,” Health and Human Services Secretary Alex Azar says. “We heard about the pain Americans are feeling at the pharmacy counter, we learned that this was impacting Americans’ health, and we’re taking action.”

Today’s announcement builds on President Trump’s other efforts to make medicine affordable for all Americans. Following the release of the President’s blueprint to lower prescription drug costs last year, December 2018 marked the first time in 46 years that the official government measure of inflation in drug prices dropped.

More help is on the way—“to end foreign freeloading and put American patients first,” Secretary Azar says.
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In spite of all the criticism permanently leveled at President Trump by the predominantly left-leaning mainstream news media, who are more interested in "political correctness" rather than nuts and bolts results benefitting the mass of the citizenry, few can doubt that Trump is a man of action, and is achieving some excellent things, as in this case by disrupting harmful, entrenched monopolies, such as prevail in the pharmaceutical industry (due in part to a very faulty patent system, as we have been writing for years).

We repeat.
Health is Wealth. Bravo to the Trump Administration for this action.