4 ms·
So... what is Congress actually going to do about it? Fix the broken patent system? Put a ceiling on pharma profits the same way health insurance profits are li
by mdorazio 3y ago
So... what is Congress actually going to do about it? Fix the broken patent system? Put a ceiling on pharma profits the same way health insurance profits are limited (80/20 rule)? Or just point fingers and continue taking campaign donation checks?
- catchnear4321 3y agothey will continue to beat the markets. (not because they cheat, because they are our betters.)
- transcriptase 3y agoNancy Pelosi’s success at options trading at 83 years old is really quite remarkable. Imagine having returns that dunk on even the best financial minds on Wall Street as an octogenarian congresswoman nailing calls on tech stocks. I guess the rest of us just have a “skill issue” as the kids say.
- defrost 3y agoImagine marrying a twenty year younger venture capitalist toy boy to manage her finances for her .. that's likely to be the remarkable secret sauce.
- ceejayoz 3y agoThe rest of us aren’t married to a prominent VC from whom much of the wealth originates.
- jamiek88 3y agoShe's an amateur and is actually married to a hedgie, look up how much Mitch McConnell has made.
- catchnear4321 3y agowonder what they talk about after work.
- toomuchtodo 3y agohttps://www.hhs.gov/about/news/2023/08/29/hhs-selects-the-first-drugs-for-medicare-drug-price-negotiation.html https://www.hhs.gov/about/news/2023/08/29/hhs-selects-the-fi... ("HHS Selects the First Drugs for Medicare Drug Price Negotiation") https://finance.yahoo.com/news/pharmaceutical-groups-lawsuit-over-medicare-030745838.html https://finance.yahoo.com/news/pharmaceutical-groups-lawsuit... ("Pharmaceutical group's lawsuit over Medicare drug price program dismissed") Jon Stewart says it best (because of course he does): https://youtu.be/NpBPm0b9deQ?t=1153 https://youtu.be/NpBPm0b9deQ?t=1153 "The work of making this world resemble one that you would prefer to live in is a lunch pail [bleep] job, day in and day out, where thousands of committed, anonymous, smart, and dedicated people bang on closed doors and pick up those that are fallen and grind away on issues till they get a positive result." You keep on grinding. > The Inflation Reduction Act requires the federal government to negotiate the price of certain high-spending drugs covered by Medicare Part D, Medicare’s outpatient prescription drug benefit program, and Medicare Part B, which covers physician and outpatient services, including drugs administered by physicians and other providers. Under the new Medicare Drug Price Negotiation Program, the number of drugs subject to price negotiation will be limited to 10 Part D drugs for 2026, another 15 Part D drugs for 2027, another 15 Part D and Part B drugs for 2028, and another 20 Part D and Part B drugs for 2029 and later years. The number of drugs with negotiated prices available will accumulate over time. https://www.kff.org/medicare/issue-brief/a-small-number-of-drugs-account-for-a-large-share-of-medicare-part-d-spending/ https://www.kff.org/medicare/issue-brief/a-small-number-of-d...
- mdorazio 3y agoThat's great, but private insurance and out of pocket accounts for almost 2x the annual drug spend that Medicare does [1]. So there's nothing stopping pharma companies from shifting the costs to maintain profits. In a way, this is a cost shifting exercise from Boomers to everyone else. Without a Medicare-for-all system, Congress could still easily stop this by capping pharma company profits but I haven't even seen an attempt to do so. [1] https://www.kff.org/medicare/issue-brief/how-does-prescription-drug-spending-and-use-compare-across-large-employer-plans-medicare-part-d-and-medicaid/ https://www.kff.org/medicare/issue-brief/how-does-prescripti...
- petre 3y agoFrance caps the prices the state is willing to pay, so the drugs are compensated through state owned health insurance if the company isn't selling much. Not all of them are 100% covered, but one can additionaly buy private insurance to cover everything.
- insane_dreamer 3y agoThe latter.