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California considers selling its own generic prescription drugs:
California could become the first state to introduce its own brand of generic prescription drugs in an effort to drag down stratospheric healthcare costs. The plan for state-branded drugs is part of California Gov. Gavin Newsom's budget proposal, which he is expected to unveil Friday, January 10.
"A trip to the doctor's office, pharmacy or hospital shouldn't cost a month's pay," Newsom said in a statement. "The cost of healthcare is just too damn high, and California is fighting back." A plan for California to sell its own drugs would "take the power out of the hands of greedy pharmaceutical companies," Newsom said, according to the Associated Press.
Under the plan, the state would contract with one or more generic drug companies, which would manufacture select prescription drugs under a state-owned label, according to an overview of the plan reported by the Los Angeles Times. Those state generics would presumably be offered to Californians at a lower price than current generics, which could spark more competitive pricing in the market overall.
So far, much of the plan's details are unclear, though, including which drugs might be sold and how much money they could save residents and the state.
The conceptual plan so far has garnered both praise and skepticism from health industry experts.
Anthony Wright, executive director of the advocacy group Health Access California, told the Associated Press that "Consumers would directly benefit if California contracted on its own to manufacture much-needed generic medications like insulin—a drug that has been around for a century yet the price has gone up over tenfold in the last few decades."
(Score: 2, Interesting) by Anonymous Coward on Tuesday January 14 2020, @07:19AM (9 children)
I've never seen pills that were a good idea, but here you go: http://selfpaypatient.com/category/prescription-drugs/ [selfpaypatient.com]
(Score: 2) by epitaxial on Tuesday January 14 2020, @03:01PM (5 children)
So companies can sell "expensive" drugs cheaply, but raise the rates exponentially when insurance is involved? I'm no fan of big government but now is the time to step in. You can't sell the same product to different people with wildly different prices. Having insurance companies pay ridiculous sums just means people end up paying more in premiums.
(Score: 1, Insightful) by Anonymous Coward on Tuesday January 14 2020, @03:11PM (2 children)
The prices you see your insurance pay on your bill are not what they actually pay. And yes, you can sell the same thing to different people for different prices. If the government steps in (even more) you will see prices rise more and quality/usefulness drop.
Look at college in the US. Only a generation ago you could work a crappy summer job, pay yourself through college, and get a very valuable degree. Then the government got involved. Now people are in debt for half their lives for worthless degrees. Governments take something cheap and useful and turn it into something expensive and worthless.
(Score: 0) by Anonymous Coward on Tuesday January 14 2020, @04:04PM (1 child)
Pull another one.
(Score: 0) by Anonymous Coward on Tuesday January 14 2020, @04:46PM
https://en.wikipedia.org/wiki/Chargemaster [wikipedia.org]
(Score: 0) by Anonymous Coward on Wednesday January 15 2020, @04:41PM (1 child)
Certainly you can. That is exactly what insurance does: Insurance pays less because they can theoretically offer up more customers than an organization can scrounge up on its own. The seller (drugstore, physician, hospital, whatever) takes the deal and accepts lower than 'street price' in order to get a greater volume of business. Better two patients paying $4 each than making only one sale at $6. When the seller starts offering those on the street lower rates than the insurance pays the insurance company can come back and say, "hey, we negotiated a discount for increased volume. Time to pay us back for being fraudulent with us." That's the way the system works.
(Score: 0) by Anonymous Coward on Wednesday January 15 2020, @08:35PM
Lol, peak capitalist mindset. Clue is the lack of critical thinking and use of incredibly simple rationale.
Gee doc, I never thought about it like that! Now slide me a pack of manly Marlboros!
(Score: 2) by barbara hudson on Tuesday January 14 2020, @08:40PM
SoylentNews is social media. Says so right in the slogan. Soylentnews is people, not tech.
(Score: 2) by Magic Oddball on Tuesday January 14 2020, @11:22PM (1 child)
You've got a mind-boggling level of ignorance and must have lived a (medically) incredibly sheltered life.
(Score: 0) by Anonymous Coward on Tuesday January 14 2020, @11:47PM
Actually, I've got a PhD in pharmacology. These people have no idea wtf they are doing and standards are extremely low, I'd even say profoundly stupid.