Monday, May 14, 2018

Trump's bait and switch on reducing drug costs

Mouth open as usual but no substance
Bait and switch is alive and well in the Trump administration and, as usual, the American consumer is the loser. Instead of going direct to the source of ridiculously high U.S. drug prices, the greed of pharmaceutical companies, he appeals to foreign markets to adjust their prices, That has to be one of the stupidest  moves Donald Trump has made since entering office. Besides, health experts say it wouldn't work anyway because the American drug industry wouldn't cooperate. Why should they? As an example, Medicare, one of its largest markets, isn't required to negotiate its drug pricing.

After Trump's speech, shares of major drugmakers, insurers and PBMs, pharmacy benefit managers, rose. Warren Buffett called the cost of healthcare "insane," and he, along with Chase Bank and Amazon hope to, "create a health care system that costs less and gets better results." for its employees. Talk is that could even accommodate other companies in the future. And that brought down the stocks of insurers and pharmaceutical companies. This would bring to mind that competition is no longer fair in the business world, now favoring large corporations and the wealthy.

Has anyone doubted that for some time?

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