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Offshoring domestic drug pricing will lead to socialized medicine

Urge President Donald Trump to reject International Pricing Index for Medicare Part B.

If you ever wanted to create a pathway to socialized medicine then offshoring domestic drug prices for Medicare and Medicaid to foreign governments will certainly take the market out of a major part of the health equation. Sadly, President Trump is doing exactly that with a contemplated executive order and a proposed rule from the Center for Medicare & Medicaid Services.

Since costs will simply be passed onto non-Medicare patients, this will create a push by Democrats for Medicare For All, paving the way to a complete federal takeover of our nation’s health care system.

To cut drug costs, President Trump and Congress should instead mandate a comprehensive review of FDA approval requirements with a focus on those that drive the cost of bringing drugs to the market through the roof. In 2014, Tufts University found that the average cost of bringing a new drug to market is $2.6 billion.  

With patent lengths of approximately twenty years, the long, drawn out FDA approval process eats up approximately twelve years from the laboratory to the pharmacy shelf, and once the patent life starts ticking, the drug developer is in a race against the clock to be able to recoup their costs and make a profit. A twenty year patent life and a twelve year timeline to get to market provide less than a decade for the drug inventor to make it worthwhile to have spent a lifetime developing a cure.

The answer to high drug prices is not found in foreign socialist government pricing models but instead in making the cost for new drug development dramatically lower so there will be more competition in the marketplace.

Stopsocializedmedicine.org is paid for by Americans for Limited Government.


Your Contact Information

Dear U.S. Senators and U.S. Representative and the President:

Dear lawmakers:

If you ever wanted to create a pathway to socialized medicine then offshoring domestic drug prices for Medicare and Medicaid to foreign governments will certainly take the market out of a major part of the health equation. Sadly, President Trump is doing exactly that with a contemplated executive order and a proposed rule from the Center for Medicare & Medicaid Services.

Since costs will simply be passed onto non-Medicare patients, this will create a push by Democrats for Medicare For All, paving the way to a complete federal takeover of our nation’s health care system.

To cut drug costs, President Trump and Congress should instead mandate a comprehensive review of FDA approval requirements with a focus on those that drive the cost of bringing drugs to the market through the roof. In 2014, Tufts University found that the average cost of bringing a new drug to market is $2.6 billion.

With patent lengths of approximately twenty years, the long, drawn out FDA approval process eats up approximately twelve years from the laboratory to the pharmacy shelf, and once the patent life starts ticking, the drug developer is in a race against the clock to be able to recoup their costs and make a profit. A twenty year patent life and a twelve year timeline to get to market provide less than a decade for the drug inventor to make it worthwhile to have spent a lifetime developing a cure.

The answer to high drug prices is not found in foreign socialist government pricing models but instead in making the cost for new drug development dramatically lower so there will be more competition in the marketplace.

Sincerely, YOUR NAME AND ADDRESS

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