Drug companies say Dems’ plan will wipe
them ‘off the face of the earth’
Washington Times,
by
Kery Murakami
Original Article
Posted By: Ribicon,
9/8/2021 12:15:23 PM
The heads of the nation’s major pharmaceutical companies on Wednesday warned that Democrats’ plan to let Medicare set drug prices would push some of them out of business. The warning upped the stakes in the industry’s fight against the drug-pricing measure in President Biden’s $3.5 trillion social welfare bill, which they previously argued would hamper drugmakers’ ability to create new cures. “It’s going to wipe off the face of the earth some pharmaceutical companies that are household names,” David Ricks, CEO of Eli Lilly and Company and chairman of the industry’s lobbying group, the Pharmaceutical Research and Manufacturers of America (PhRMA), said in a call with reporters.
Reply 1 - Posted by:
bldrrepub 9/8/2021 12:17:05 PM (No. 907886)
More big companies forcing small companies out.
9 people like this.
Reply 2 - Posted by:
Lake Dweller 9/8/2021 12:21:08 PM (No. 907890)
Hey Big Pharma, you elected Biden. You get what you paid for. And screw you.
36 people like this.
Reply 3 - Posted by:
formerNYer 9/8/2021 12:21:26 PM (No. 907891)
O/P is correct, Big Pharma loved xiden and his socialist minions, not seeing the big pitcure over short term profits (gotta keep those stock owners happy!) Now they are complaining about the boondoggle 3.5 trillion inflation grabbing bill. O/P is right they're not too bright.
19 people like this.
Reply 4 - Posted by:
deerejon 9/8/2021 12:24:56 PM (No. 907894)
I don't feel a bit sorry for these filthy rich companies,Hope they do go out of Business.As there ability to create new cures,when was the last time you have heard of a cure for anything.NONE, they can't even cure the common cold let alone anything else, nothing but lies.they need wipe off the face of the earth.
17 people like this.
I take pain medication for two pinched nerves in my spine! I’ll go without and will gut it out if it will help implement the brilliance of Joe Biden and Nancy Pelosi! I’m just a Pleb, after all! White, Christian, Retired and Patriotic. Gawd, what a loser am I!!!
11 people like this.
Reply 6 - Posted by:
snakeoil 9/8/2021 12:36:08 PM (No. 907902)
Don't know enough about this to express a valid opinion. But can't understand why some of the pills I purchase costs $ 2 for a 90 day supply while others cost $ 500 plus. Decades ago the phone company was deregulated or whatever the term was by the government and it was supposed to save us money. The government forced Microsoft not to include the Internet Explorer as part of the Windows OS. These were supposed to save us money. It didn't.
7 people like this.
Reply 7 - Posted by:
stablemoney 9/8/2021 12:36:49 PM (No. 907904)
The pharmaceutical companies have made fortunes off the "vaccine" that don't work, and many other drugs they sell that don't work.
16 people like this.
Mote that Lilly (not much in the news lately) is quoted. Pfizer appears to be the 'favorite son' with its immense government contracts.
As usual, its only ordinary people that will go without necessary drugs and bear the brunt of the harm this will cause.
7 people like this.
Reply 9 - Posted by:
skacmar 9/8/2021 12:40:59 PM (No. 907910)
I doubt drug companies will be WIPED OFF THE FACE OF THE EARTH as they will find a way to make money. Maybe some prescription drugs will suddenly become much harder to get. Generic version of some popular drugs will not come to market. Markets/countries for some drugs may be skipped altogether as they will not be considered profitable to sell to. Also, look for research and development of new drugs to slow or stop in some cases. Biden will then punish the drug companies by not including their drugs in the "approved drug formularies" for the government sponsored insurance programs, further hurting consumers. While Biden's idea may sound great on paper and in theory, in real life, it hurts everyone. Especially those it is intended to help.
7 people like this.
Reply 10 - Posted by:
SALady 9/8/2021 12:46:45 PM (No. 907913)
I guess I am in the minority here, but I have never believed "big pharma" to be the "bad guy". And, no, I do not work for them or even own any stock in them.
They have created so many amazing drugs. If they could not recover their massive costs for creating those drugs, and the countless failed drugs that never make it to market, plus make a profit for their shareholders (you know, free market capitalism), they would not attempt to create most of those drugs. I used to loose days to migraine headaches, until they invented Imitrex. Now I may loose an hour once in awhile, but usually not even that. But I read once that they didn't know if Imitrex would work, and would never have done that research if they couldn't make a profit on the drug when it was created.
If the system fair? No, it has a lot of problems. But the last thing I want to see if socialistic government control, where the pharmaceutical companies are shut down, or so greatly limited, that the drugs they may have invented to treat or cure things like cancer, Parkinson's disease, diabetes, etc, will never even be researched.
21 people like this.
Reply 11 - Posted by:
jhpeters2 9/8/2021 12:55:28 PM (No. 907916)
Dems building a corruption engine. Nothing but kickbacks as far as the knowledgeable eyes can see. Everyone else (Democrats and their media sycophants) will pretend not to notice.
5 people like this.
Reply 12 - Posted by:
Rather Read 9/8/2021 1:07:04 PM (No. 907929)
I don't feel one bit sorry for them. When I have to pay over $200 for eye drops, there is something wrong.
6 people like this.
Reply 13 - Posted by:
Lawsy0 9/8/2021 1:11:15 PM (No. 907932)
Big pharma will go extinct about 7 months after the common cockroach. (The modern cockroach first came to be about 200 million years ago) They just need a new light and a different kitchen.
5 people like this.
Reply 14 - Posted by:
reefdiver 9/8/2021 1:20:02 PM (No. 907942)
And yet the Big Cartel Pharmaceutical companies are doing great because of the Biden border fiasco.
2 people like this.
We need an amendment to our Constitution that forbids Federal, state, and local govts to set prices of products manufactured and services provided by privately-owned entities.
5 people like this.
Reply 16 - Posted by:
SkeezerMcGee 9/8/2021 1:35:12 PM (No. 907949)
The federal government is not going to regulate drug companies out of business. For many years the federal government has been affecting the price of many drugs, and other medical goods and services.
The heads of our major pharmaceutical companies fear they will be more widely held a standard called the “maximum fair price.” It's all about profits.
The (yet to be finalized) revised federal regulations could result in estimated possible loss of revenues of at least $450 billion (up to $540 billion) in 10-years, including $448 billion in savings to Medicare and $12 billion in savings to subsidized drug plans in other marketplaces.
0 people like this.
Reply 17 - Posted by:
Strike3 9/8/2021 1:36:08 PM (No. 907950)
A better and more accurate headline would be "Drug Companies' Practice of Pricing at 1000% of Cost Jeopardized by Biden Administration."
You contributed heavily to Joe's non-campaign, you voted for him, so - suck it Big Pharma.
My brief period of contract software work with one of the Big Pharma corporations proves the point that they are not too bright. Their business plan is nothing more than to obey every whim of the FDA, document everything in triplicate and make lots of money. I used to wonder how they could afford lavish headquarters buildings, in house exercise facilities and on-site daycare. No need to wonder any longer.
4 people like this.
Reply 18 - Posted by:
red1066 9/8/2021 1:57:37 PM (No. 907969)
The drug companies will just move production out of the country. Clinton started the ball rolling which is why many vaccines and other drugs are made overseas.
3 people like this.
Reply 19 - Posted by:
snowoutlaw 9/8/2021 2:20:40 PM (No. 907992)
Leave it to Democrats to ruin the future cures for things like cancer or (fill in the blank) that we will ALL need some day. Drugs cost billions to invent and test but the costs need to be shared by all not just the US. Trump's plan would have resolved that unfairness whereas the Democrat plan would just take away the incentive to invent new cures.
3 people like this.
Reply 20 - Posted by:
singermom9 9/8/2021 2:42:17 PM (No. 908002)
Serves you right. biden cares about no one. He certainly doesn't care about Americans or our country. He takes advantage of those of us to kind to call him out.
You who voted for this demented fool are getting what you wanted. I have NO sympathy for any of you and I will do nothing to help get you out of this mess you created by putting money over THE PEOPLE.
1 person likes this.
Reply 21 - Posted by:
Kate318 9/8/2021 3:21:25 PM (No. 908026)
I hardly think they have cause to worry. The government needs Big Pharma to push the Covid narrative. It’s a match made in hell. Pfizer made a profit of $4 billion in just the the second quarter of this year alone.
0 people like this.
Reply 22 - Posted by:
stablemoney 9/8/2021 3:27:24 PM (No. 908032)
And more bad news for the heads of the drug companies. With Medicare setting all the prices and policies, you won't be needed any longer.
1 person likes this.
Reply 23 - Posted by:
Hermoine 9/8/2021 3:30:11 PM (No. 908033)
No sympathy here, when you lay down with dogs...
2 people like this.
Reply 24 - Posted by:
paral04 9/8/2021 3:30:43 PM (No. 908035)
Big pharma has been ripping Americans off for years. I shopped for my Rx's in Spain and got the same brand as her for 60% off what I pay here in the States, It is time they did get put in check.
3 people like this.
Reply 25 - Posted by:
john56 9/8/2021 4:41:35 PM (No. 908084)
Tough.
DIdn't Pfizer hold back on their announcements about their COVID 19 vaccine (funded primarily by the US Govt, ie Trump's Warp Speed) until after Sleepy Creepy Crooked President Uncle Joe's henchmen stole the election so to not possibily cause any one to vote for the reprehensible Trump?
Big Pharma deserves what they get. Once they let the snake oil marketers (ie direct-to-consumer ads) and figured out that they did better with the docs when they hired the long-legged blonde cheerleaders as drug reps, they deserve to be slapped.
Go to bed with dogs, get up with fleas. Except in this case, the folks you got in bed with weren't as lovable as dogs. More like pirannahs or snakes.
1 person likes this.
Reply 26 - Posted by:
Birddog 9/8/2021 5:39:34 PM (No. 908128)
#25...Not only held it back even though they and Trump said it was coming "Any Day Now"...but released it through Biden's camp 1st, Trump had to read about it in the News, they never even made a phone call.
1 person likes this.
Below, you will find ...
Most Recent Articles posted by "Ribicon"
and
Most Active Articles (last 48 hours)
Comments:
Big Pharma conspired to oust President Trump because, against GOP opposition, he tried to prevent them from price-gouging American consumers through their usual practice of selling drugs for pennies on the dollar in international markets, and making up the difference domestically. And now they whine about their potential profits under the Marxist administration they demanded. Not too bright, are they?