Submitted for your consideration Henry Waxman, who continually grinds out studies showing that when government sets drug prices the prices will be lower because it is a monopoly buyer and who endlessly trots out the the case study against academic tenure, Gerard Anderson of Johns Hopkins, to say that other countries negotiate lower prices so we can too, ignoring how other countries systematically starve their systems of new medicines.
So what else is new? We can have low prices and fewer choices..just vote for it. But didn't Democrats scatter like pollen when it came time to put real teeth into a direct negotiation for Medicare?
Drain profits out of drug companies. No problem. Just watch capital flow out of biotech firms including stem cell investment.
I think Waxman might point out that drug companies warned of a loss of investment before generic drug competition and Medicaid rebates and R and D spending has done up. But he ignores the fact the companies were able to increase market prices to offset government policies and many new drugs came on to the scene during the 1990's that were first in class. In otherwords, pricing freedom and innovative products saved the day. What he's talking about now is capping prices and profits on breakthrough drugs now and in the future. And introducing patent stripping legislation with watered down safety standards that mandate generic biologics as 100 percent interchangeable to help them gain market share.
Now that's a fanatic.