Americans want to pay as little as possible for drugs -- even if it blunts pharma’s incentive to invent more of them.
one of the drugs on the negotiation list. And taken together, they illustrate the core of our pharmaceutical dilemma: We want drugmakers to keep creating new treatments, but once they have, we would like to pay as little as possible for them — even if it blunts their incentive to invent future medicines.
Some pharma companies have filed lawsuits making various arguments that this negotiation policy is unconstitutional — not to mention more of a price control than a negotiation. That latter argument, at least, is correct: This is effectively a price control, carried out via an elaborate pseudo-negotiation that seems to have been layered on top mostly so the government doesn’t have to call it that.
In contrast, under the government’s new authority, companies that “negotiate” will have to accept whatever price Medicare decides to set — even if it’s absurdly low. This is not very negotiation-like. Nor can companies refuse to negotiate; if they do, they’ll be slapped with an excise tax so stiff, they could end up losing money on every unit they sell to Medicare.
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