SoylentNews is people
SoylentNews
from the prepare-for-sharply-worded-letters dept.
More drugmakers hike U.S. prices as new year begins:
NEW YORK (Reuters) - Drugmakers including Bristol-Myers Squibb Co (BMY.N), Gilead Sciences Inc (GILD.O), and Biogen Inc (BIIB.O) hiked U.S. list prices on more than 50 drugs on Wednesday, bringing total New Year’s Day drug price increases to more than 250, according to data analyzed by healthcare research firm 3 Axis Advisors.
Reuters reported on Tuesday that drugmakers including Pfizer Inc (PFE.N), GlaxoSmithKline PLC (GSK.L) and Sanofi SA (SASY.PA) were planning to increase prices on more than 200 drugs in the United States on Jan. 1.
Nearly all of the price increases are below 10% and the median price increase is around 5%, according to 3 Axis.
More early year price increases could still be announced.
Soaring U.S. prescription drug prices are expected to again be a central issue in the presidential election. President Donald Trump, who made bringing them down a core pledge of his 2016 campaign, is running for re-election in 2020.
[...] The United States, which leaves drug pricing to market competition, has higher prices than in other countries where governments directly or indirectly control the costs, making it the world’s most lucrative market for manufacturers.
(Score: 3, Insightful) by mcgrew on Thursday January 02 2020, @06:13PM (3 children)
"Considering the total failure of the market..."
That's exactly what's wrong with health care in the money-worshiping US. Capitalism isn't the be-all and end-all hard core, money-worshiping capitalists think it is. Health care is something that can't have a free market. You can't choose to get your broken arm fixed, or to pay for a prescription, it's forced on you. Without freedom it's not a free market.
We Americans are idiots for letting the medical insurance industry to even exist. Out costs are double socialist systems and the outcomes are far poorer. But then, religious fanatics like the money worshipers seldom listen to reason or logic.
mcgrewbooks.com mcgrew.info nooze.org
(Score: 0) by Anonymous Coward on Thursday January 02 2020, @09:48PM
When someone says "I have a plan to save $100 billion on healthcare" what the healthcare industry hears is "I have a plan to pay the healthcare industry $100 billion less". That is why they fight it.
(Score: 0) by Anonymous Coward on Friday January 03 2020, @01:31AM (1 child)
Everybody has to eat, but the market does a fine job supplying food to everyone, and at reasonable prices. Just because you have to have something doesn't mean that the market doesn't work.
(Score: 2) by dry on Friday January 03 2020, @05:08AM
Yes and no for the market working. Grocery stores exist in a competitive market, resulting in competition and low profit margins. Farmers are heavily subsidized by the government, which results in the grocery stores being able to purchase cheap food to sell you.