Everybody says that it is the Republicans who want to keep prices high on everything, and yet it is in a democrat administration that we have the highest inflation we have had in years — mansplain that to me, if you will.
So here comes a new law that congress just passed that will allow, among other things, for lowered prices on drugs. I wonder how that is going to work out as time goes by?
I know that people often need help meeting their medical expenses and there ought to be government programs that do help people meet their medical expenses …. especially the people who struggle to meet their medical expenses.
That would be fair and I believe there probably are some such government programs but I do not personally know what they are.
Here is the point I want to get around to making:
Suppose you are the owner of a huge pharmaceutical company that spends millions of dollars each year on research to discover new medicines …. better medicines … to help the millions of people who take medicines for their ailments.
Suppose the drug manufacturing company that you own employees thousands of employees — some of them high-paid research chemists … some of them high-paid experts in their own medical specialties working as consultants ….
Are you going to be a happy camper with a government that comes along and tells you what you can charge for your products?
In my mind that kind of government move does not do very much positive for free enterprise .. and in the long run, it doesn’t do very much for the medical profession either … the medical profession who is always desperately searching for more effective medicines to combat dreadful diseases with …..patients in desperate for more effective medicines to help to heal them from often life-threatening maladies.
I think that if the government keeps messing with the drug companies, the day will come when there will be no “Breakthrough” medicines to combat cancers and diabetes and covid-19 and Monkeypox and God knows what else.
Besides an end to “Breakthrough” drugs, the government meddling is also going to bring about the day when any new drug is finally produced, the price of it will be exponentially higher than anything we can imagine right now. Those who hold shares of stock in drug companies are not going to hold still for a reduction in their prospects for a gain on their investments and that factor in and of itself, will drive drug prices higher no matter what the government does.