He displays little understanding of running a business, profits, compensation and most significantly he relies on survey results as if they are facts.
“Can’t afford to fill their prescriptions?” In relationship to what other spending? (As I have said before).
If you ask anyone if they can afford to spend money on health care of any kind, the answer is likely to be no. That’s human nature. Spending on virtually anything other than health care always comes first. That’s just the way it is.
Profits are bad – greed? Tell that to retirees who live off investments. It seems Sen Sanders has little understanding of the working of our economy.
We need to address the cost of prescription drugs from start to finish – seriously looking at all the components of the process, not by yelling greed or focusing on inflammatory rhetoric aimed only at profit and pay. Even the profit component involves much more than pricing.
Sanders is only interested in stirring up dissension to create a path to his communist utopia.
He is a one trick pony and firmly believes his way is the only way. Best to totally ignore his nuttiness.
Big pharma big find a Covid-19 vaccine out of the kindness of their corporate hearts. It was the fact that if they were the first to market a vaccine, they would earn profits. They also did this research with all liability removed. At the very least, they got to fund research that they could use later from government funding to make other for profit drugs.
Research and liability are some of the many reason US drugs are so expensive.
There is big money to be made in pharmaceuticals. Just look at Purdue Pharma and the Sackler family making billions hawking opioids.
Trust in big business is no more warranted than trust in big government.
Where would we be without big business? No doubt there are some unscrupulous individuals running businesses, but in the majority by far that is not true and we need big business for many reasons. Remember, big business is not a thing, it doesn’t think, it is made up of individuals, human beings who make decisions, some good, some not. But to equate CEO pay as a cause of high Rx costs is ridicules for two reasons. First, most of it is in stock and second divide total compensation by the number of scripts should and see the actual impact on prices. Something clearly needs to change in the way we develop, market and price drugs, but it’s not the simplistic approach of a Sanders.
Would you sleep with me for a million dollars?
Would you sleep with me for ten dollars?
What is the difference between a survey and a study?
Politifact says Bernie is mostly true.
“From 2000 to 2018, the profitability of large pharmaceutical companies was significantly greater than other large, public companies, but the difference was less pronounced when considering company size, year, or research and development expense. Data on the profitability of large pharmaceutical companies may be relevant to formulating evidence-based policies to make medicines more affordable.”
More studies… it couldn’t hurt.
It’s not policies we need, it’s understanding and then revising the entire process from basic research to direct marketing to patents and generics to the impact on our prices of the actions by other countries. It’s not about CEO pay or profits even. Profits are the result of more than just pricing but volume as well. In addition, Sanders regularly misleads on pricing by referencing retail prices which virtually no one pays. Big difference between surveys and studies and especially when it comes to asking people about spending on health care.
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